In a move that could shape the future of Virgin Voyages, the cruise line has announced a significant investment and a change in leadership. With a focus on expanding its reach, the company has closed a $550 million capital raise and also revealed a shift at the helm.

Following the new investment round, the current CEO, Tom McAlpin, will be stepping down as head of the cruise line, making space for Nirmal Saverimuttu.

Significant Investment as Virgin Looks at Further Growth

Virgin Voyages has successfully closed on a $550 million capital raise led by Ares Management’s Private Equity Group. Additional funds also came from existing investors, including the Virgin Group and Bain Capital. The investment follows another $550 million investment by Blackrock earlier this year.

The new influx of capital aims to strengthen the company’s financial standing and accelerate international expansion plans.

Since Virgin Voyages launched its first cruise ship in March 2020, the cruise line has quickly grown into one of the world’s fastest-growing and most popular cruise brands, making a name for itself with a new style of cruising that sets it apart from the establishment.

“It is hard to express just how proud I am of all that the Virgin Voyages Crew has created and the strong endorsement we are receiving from Ares. We have won numerous industry awards and received many five-star reviews because of our passion for this brand,” said McAlpin. 

In addition to the financial news, Virgin Voyages announced the retirement of its founding CEO, Tom McAlpin. He will transition to the role of Chairman of the Board of Directors, while Nirmal Saverimuttu will take the reins as the new CEO.

“While I will miss the day-to-day, I believe it is the right time to step aside as CEO. Nirmal is a great friend and experienced leader who lives and breathes the Virgin Voyages culture. I know he will help take this amazing brand and Crew to new heights, and I look forward to continuing to support the leadership team as Chairman,” McAlpin continued.

Nirmal Saverimuttu has been with Virgin Voyages since the company was first formed. He joined the cruise line in 2014 as Chief Commercial Officer from the Virgin Group after being involved with the first round of investments. Saverimuttu is currently serving as President and Chief Experience Officer.

“I want to send our deepest thanks, on behalf of all our Crew and the Board, to Tom for his leadership and passion for the business. We are so grateful for all he has done and are thrilled to continue to partner with him as our Chairman,” said Saverimuttu. 

Going Beyond Three Cruise Ships?

Currently operating three ships, Virgin Voyages seems unlikely to be using the new investment round towards building more ships. The cruise line is putting more focus on developing more in new international markets by the end of the year.

The emphasis will be on sailing to more ports in the Caribbean, Australia, and a return to the United Kingdom. The cruise line announced a new series of itineraries today, September 7, which includes 19 new destinations across 27 new itineraries.

Virgin Voyages also announced an indefinite delay in launching their fourth ship, Brilliant Lady, due to supply chain and staffing issues. Brilliant Lady will not be sailing any cruises through April 2024, at least.

The delay of Brilliant Lady marks another instance where Virgin Voyages has had to postpone ship launches, but it doesn’t appear to overshadow the company’s ambitious plans for growth.

Currently, Virgin Voyages operates three 110,000 gross tons cruise ships—Scarlet Lady, Valiant Lady, and Resilient Lady. Scarlet Lady, the cruise line’s first cruise ship, offers cruises out of PortMiami, sailing on four and five-night cruises with calls to Puerto Rico, Puerto Plata, Bimini, and Nassau. 

Valiant Lady and Resilient Lady both operate in the Mediterranean. Valiant Lady is sailing cruises in the Western part of the Med, while Resilient Lady operates in the Eastern Mediterranean. On October 29, Valiant Lady will join Scarlet Lady in Miami, while Resilient Lady will reposition to Australia. 

Virgin Voyages took the wraps off a slew of new itineraries its three ships will sail through April 2025, featuring 19 new port of calls.

The new roster of cruises, announced on September 7, 2023, includes special Halloween voyages and a series of sailings from Portsmouth, in the UK.

Virgin Voyages’ Itineraries Feature 19 New Port Calls

New itineraries and ports of call, along with limited-time discounts and spending credits on some cruises, are included in Virgin Voyages’ just-released ship schedules through April 2025.

The adult-only line launched by Richard Branson in 2021 unveiled 27 new voyages that will be operated aboard Scarlet Lady, Valiant Lady, and Resilient Lady.

A special series of Halloween voyages this fall will operate from October 13 through November 1 on Scarlet Lady, and through October 31 on Resilient Lady and Valiant Lady.

The cruise line’s fourth ship, Brilliant Lady, now under construction in Italy, was due to enter service in December 2023. However, supply chain, staffing, and construction issues have prompted a delay in Brilliant Lady’s launch, and the ship is not included in the new itinerary round-up. The line has not disclosed when the ship will enter service and has cancelled several sailings.

“In the last year alone, our repeat Sailor rates have tripled. What’s even better is these loyal travellers want more – so we’ve listened. We’re thrilled to announce more than two dozen new itineraries featuring incredible experiences that will let these discerning holiday makers enjoy destinations that may be familiar, in a completely different way – the Virgin way,” said Shane Riley, Vice President of UK/International Sales at Virgin Voyages. 

Virgin Voyages also rolled out incentives for cruises operating through spring 2025 when booked by September 28, 2023. The line is offering 30% off Mediterranean cruises and up to $600 in bar tab credits. Also, select Caribbean sailings and repositioning voyages are eligible for fare discounts of $500.

Onboard Resilient Lady

Resilient Lady, the line’s newest ship that debuted in May 2023, will deploy to Australia in December 2023 and spend her inaugural South Pacific season home-ported in Melbourne. In May 2024, she repositions Athens through July, sailing the Adriatic Sea and Greek Islands cruises.

In mid-August, the Virgin Voyages cruise ship heads to a new homeport in Portsmouth, England, offering a series of 4- to 6-night “English Sights and European Delights” cruises.

Virgin Voyages earlier this month indicated that one of its ships would be based in Portsmouth, but had not disclosed which vessel it would be. The ship’s European schedule also includes two repositioning voyages from Portsmouth to Barcelona.

Additionally, Resilient Lady will operate a a 44-night repositioning from Athens to Australia in October 2024, calling at Dubai, Mumbai, Singapore, and Bali.

Her second season in Australia will feature 15 new itineraries and 10 new ports, including Broome, Albany, Adelaide, Newcastle, Willis Island, Mooloolaba, Port Douglas, Brisbane, Eden, and Kangaroo Island.

Onboard Valiant Lady

Valiant Lady will be based in San Juan, Puerto Rico, from January through March 2024, offering two southern Caribbean itineraries.

In April 2024, the ship will reposition to Miami and take over Scarlet Lady’s cruise schedule, as Scarlet Lady will head to dry dock for upgrades and maintenance.

Valiant Lady will operate her sister ship’s 4- and 5-night Caribbean sailings, plus a 6-night “Holidaze and Nights” voyage.

Onboard Scarlet Lady

Scarlet Lady, the line’s first ship that debuted in 2021, will be based in the Mediterranean from May to October 2024, sailing two 7-night itineraries, “Irresistible Med” and “French Daze and Ibiza Nights.”

On November 3, 2024, Scarlet Lady will sail an 11-night cruise from Barcelona to Rome, just prior to entering dry dock. Following her maintenance in the shipyard, Scarlet Lady will operate a 16-night transatlantic from Rome to Miami, where she will offer a series of 6- and 8-night Caribbean cruises through spring 2025.

All Virgin Voyages ships are identical, with a capacity for 2,770 guests in 1,400 staterooms. The 110,000-gross ton vessels offer 22 dining venues specializing in global cuisine, such as a steakhouse, Korean BBQ, vegetarian restaurants, and international food markets, among others.

All specialty restaurants are covered in the cruise fare; there are no main dining rooms. Also covered in the fare are crew gratuities, WiFi, and daily fitness and wellness workouts.

The launch of Virgin Voyages’ fourth ship, which was to enter service in December 2023, has been delayed indefinitely, the cruise line quietly announced in a September 7, 2023 press statement promoting a raft of new itineraries.

Supply chain and staffing issues, and construction delays prompted the postponement of the new vessel and the cancellation of several sailings.

Brilliant Lady Cruises Cancelled Into 2024

Brilliant Lady, the fourth ship in the Virgin Voyages fleet, will not debut in December as planned, marking another ship launch delay in the cruise line’s short history. The ship is under construction at a Fincantieri shipyard in Genoa, Italy, and was floated out of its construction bay on November 25, 2022, marking the start of its interior design.

Due to ongoing staffing challenges, and supply chain and construction issues, Virgin Voyages has cancelled the ship’s cruise schedule through April 2024, and no firm launch date has been disclosed.

The cruise line, saying it is susceptible to global issues, is still evaluating possible new launch dates.

“We launched Virgin Voyages in the UK two years ago and have since taken the industry by storm, but even the strongest businesses face unforeseen challenges every now and then,” said Shane Riley, Vice President of UK/International Sales at Virgin Voyages.

“We are sorry that our Sailors who were excited about Brilliant Lady will have to wait a little bit longer, but we know they’ll love the itineraries as much as we do. We’re also looking forward to sailing out of Portsmouth again on Resilient Lady and welcoming Sailors on-board to explore the world in true Virgin style,” Riley added.

Virgin Voyages has cancelled Brilliant Lady’s two inaugural sailings, a 5-night cruise roundtrip from Miami on December 24, and a 7-night cruise roundtrip from San Juan on December 30.

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The ship was to homeport in San Juan through April 2024, but the line has now cancelled sailings with departure dates of January 6, March 23 and 30, and April 6, 13, and 20.

The April 20 sailing was a transatlantic voyage from the Caribbean to Lisbon, Portugal, as the ship was slated to reposition to Europe for the summer season.

Cruise Line Offers Series of Replacement Voyages

Virgin Voyages has scheduled replacement voyages aboard Scarlet Lady and Valiant Lady, offering booked cruisers a choice of similar sailings with departure dates that match, or closely match Brilliant Lady’s original cruises.

For example, guests booked on Brilliant Lady’s December 30, 2023 departure, the 7-night cruise from San Juan, can instead choose either Scarlet Lady’s 6-night New Year’s Ahoy cruise departing December 27 from Miami, or Valiant Lady’s 8-night New Year’s Ahoy sailing, departing December 30, also from Miami.

Replacement sailings are offered for every cancelled cruise, including the transatlantic voyage, as Scarlet Lady will sail from Miami on April 21 on a 14-night crossing to Barcelona.

It wasn’t immediately clear whether guests already booked on Scarlet Lady and Valiant Lady replacement cruises would be affected. Also, Virgin Voyages has not confirmed what its refund policy will be for any guests who wish to cancel and not rebook on an alternate ship. It is anticipated, though, that full refunds will be provided.

Earlier Ships Also Faced Launch Delays

Virgin Voyages, an adults-only line founded by Richard Branson, currently has three ships at sea: Scarlet Lady, which launched in October 2021; Valiant Lady, which entered service in March 2022; and Resilient Lady, which debuted in May 2023.

Scarlet Lady and Resilient Lady also faced construction, staffing, and other challenges, and were delayed. Scarlet Lady’s delay was Covid-related, since her debut was originally planned for 2020, before the outbreak shut down the industry.

Resilient Lady originally was scheduled to debut in August 2022, but was postponed due to supply chain obstacles and a level of uncertainty for international travelers based on Covid levels at the time.

All of the Virgin Voyages ships are identical, at 110,000-gross tons and with 1,400 cabins accommodating 2,770 guests. The ships focus on entertainment, and broke new ground with a series of specialty restaurants that replace the industry’s main dining room tradition.