Hurtigruten Group, Norway’s leading coastal cruise line and premium expedition travel brand, has secured more than €500 mill of new capital to support business growth and the final phase of its separation into Hurtigruten and HX (Hurtigruten Expeditions).
From January 2025, each business will exist as a standalone entity. Both companies will be owned by a consortium of existing investors.
This investment ensures that both businesses will have access to the required resources to fund the next phases of their global growth potential, Hurtigruten said.
Torben Geisler of Arini Capital Management, which is part of the two consortia involved, said, “(This) marks a significant chapter in the future of these two companies.
“With this infusion of new capital and strategic support from our investor groups, both Hurtigruten and HX are poised to enhance their product offerings and explore new markets, while continuing to deliver exceptional travel experiences.
“Hurtigruten and HX’s incredible work forces have been instrumental in driving the success of both businesses and will continue to be under this new structure,” he said.
James McArthur, Hurtigruten Group CFO (pictured), added, “We are very excited to now achieve what everyone in our organisation has been working towards for a long time.
“This transaction marks the beginning of an exciting era for both Hurtigruten and HX; both businesses now have tailored ownership teams that have full confidence in their unique market position and long-term potential,” he said.
This transaction is expected to close in January, 2025.
In another move, Hurtigruten is strengthening its presence in the Asia/Pacific region by establishing a dedicated sales operations’ team.
Damian Perry will lead the Hurtigruten APAC team.
“We are looking forward to taking the next step with our dedicated Hurtigruten team in APAC as we move into 2025,” said Hedda Felin, Hurtigruten CEO.
“I am pleased to confirm we have secured Damian Perry to continue to lead this work for us, as he brings invaluable insight and knowledge of the industry, as well as stability for the team and local partners. These elements are essential for executing our strategy in the region.
“After visiting Australia earlier this year, and experiencing the overwhelming positive feedback from trade partners, along with our strong team, I am certain that we will see increased enthusiasm and support for Hurtigruten in the region,” she said.
Perry added: “We will offer our same committed and robust expertise across our fleet of nine ships – which has recently seen the addition of ‘Midnatsol’ – always prioritising safety and customer experience.
“Additionally, we’re looking to continue expanding our tour range and packaging to meet the local market’s demands.
“We remain a progressive, world leading organisation with a broad scope on sustainability and with the Sea Zero project on the horizon – the world’s first ship with zero-emission propulsion – Hurtigruten will continue to lead the industry for years to come,” he said.
In APAC, Hurtigruten has achieved consistent month-on-month sales targets and exceptional results above 100% growth for 2026 departures year-on-year.
To support APAC’s growth and focus, Marisa Jones, has been promoted from Marketing Manager, to Head of Marketing.
“Over the past two years, I’ve been proud to be part of Hurtigruten’s growth, including launching our premium Signature voyages in APAC and the development of our recently launched brand platform.
“Hurtigruten’s authentic Norwegian spirit, exceptional quality, and commitment to sustainability define our story and position us to lead the future of sustainable travel with innovative, market-leading experiences. It’s an incredibly exciting time to be aboard,” she said.
The company also announced a new position of Hurtigruten’s Head of Sales – APAC. Perry said recruitment would take place over the next month, describing it as, “One of the industry’s most desirable roles under the inspiring leadership of Hedda Felin, and for one of travel’s most iconic brands.
“Hurtigruten will announce the placement of existing team members mid-December, once we have finalised the consultation and planning process and share details of additional new vacancies for our business, setting the stage for the journey into 2025,” Perry explained.
