Wind Spirit // © 2011 Windstar Cruises
Ambassadors International, Inc. announced April 1 that that it is selling substantially all of its assets, including Windstar Cruises, to private investment firm Whippoorwill, through a court-supervised sale process, during which normal business operations will continue.
Windstar also plans, subject to court approval, to continue to operate all cruises as scheduled, honor all fares and reservations, including charter contracts, provide commissions and payments to travel partners as usual, along with employee wages and benefits.
Shelley F. Greenhaus, president of Whippoorwill, which is based in White Plains, New York, said that once Windstar is free of its debt burden, the company, which manages more than $1 billion, is confident that Windstar can grow its market share, and plans to invest in the line’s growth.
In addition to the ongoing Windstar operations, and as part of the sale, Whippoorwill will also acquire Delta Queen and Columbia Queen from Ambassadors’ former Majestic America Line operations, which were discontinued in 2008.
Hans Birkholz, CEO of Ambassadors and Windstar, said, “The actions we are announcing today will allow us to build on our strong brand position and guest experience delivery while we position Windstar for profitability and long-term success."