Travel Technology, Hospitality Management
Virgin Voyages | September 08, 2023
Virgin Voyages announced a $550 million funding round led by Ares Management for global expansion.
Founder Tom McAlpin transitions to Chairman of the Board, while Nirmal Saverimuttu takes over as CEO, bringing extensive experience from Virgin Voyages' early days.
Virgin Voyages looks forward to continued success and collaboration with investors, including Ares Management, to drive future growth and innovation.
Virgin Voyages, the award-winning cruise brand backed by Richard Branson's Virgin Group, has announced the completion of a $550 million fundraise led by Ares Management's Private Equity Group. This funding, including contributions from existing investors such as Virgin Group and Bain Capital, is poised to propel Virgin Voyages into international markets while enhancing the overall customer experience.
Partner and Co-Portfolio Manager of Special Opportunities in the Ares Private Equity Group, Aaron Rosen, remarked,
With this new investment alongside our partners at Virgin Group and Bain Capital, we believe the company is on strong footing to capitalize on its differentiated product and value proposition in the growing cruise industry.
[Source - Cision PR Newswire]
Established as a leading player in the industry, Virgin Voyages has swiftly gained recognition and accolades with a fleet serving various destinations and recent wins like topping the mega-ship category in Travel + Leisure's 2023 World's Best Awards and sweeping all five cruise categories in the 2023 Cruise Critic Cruisers' Choice Awards.
Alongside this development, Tom McAlpin, the founding CEO, is transitioning to the role of Chairman of the Board. Nirmal Saverimuttu is taking the reins as the new Chief Executive Officer, having formerly served as President and Chief Experience Officer. In addition, Nirmal Saverimuttu has been a foundational figure at Virgin Voyages since 2014, when he joined as Chief Commercial Officer after securing initial investments from the Virgin Group. His role expanded in 2021 to President and Chief Experience Officer, making him well-prepared to guide the brand into its next phase of growth and innovation.
Nirmal Saverimuttu, CEO of Virgin Voyages, said,
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.
[Source – Cision PR Newswire]
Virgin Voyages is a trusted brand due to its crew's dedication and passion for offering remarkable experiences for its guests. Nirmal also expressed his anticipation of collaborating with the Ares team and Virgin Voyages' current investors to execute growth and expansion plans as the company contemplates its promising future.
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Business Travel
PR Newswire | November 03, 2023
IBS Software and Royal Caribbean Group have partnered to deploy cutting-edge retail technology at the heart of its operations.
This will enable Royal Caribbean Group to provide a more seamless vacation experience to their guests and deliver even better personalized services at every step of the trip: before, during, and after.
By deploying IBS Software's next-generation iTravelCruise travel platform, Royal Caribbean Group is able to place guests at the center of the retail experience. The company will be able to deliver tailored guests experiences by empowering every sales channel with an integrated and flexible omni-channel platform. This translates into offering improved bundling and selling services that contribute to the entire vacation experience – such as booking flights, hotels and transfers – as well as providing guests with personalized offers, credits and loyalty rewards throughout the trip using an integrated guest wallet.
The iTravelCruise platform plays a significant role by delivering high-performance transaction processing, high system availability, security and stringent performance requirements for Royal Caribbean Group, providing a faster, more flexible and seamless booking experience for guests.
Marta Poulter, Chief Information Officer at Royal Caribbean Group, said, "At Royal Caribbean Group we never stand still in our mission to constantly bring our guests new and differentiated experiences. This is made possible by replacing legacy technology with the latest cloud-based retail systems, as it gives guests far more flexibility over what they can book to make their trip as seamless and easy as possible."
Rafeh Masood, Chief Growth and Digital Officer at Royal Caribbean Group, said, "By adopting this modern digital platform, we'll offer more opportunities to our guests to continue vacationing and building memories with us, with the benefits of flexible, personalized offerings."
Jitendra Sindhwani, President at IBS Software, commented, "We're thrilled to partner with the Royal Caribbean Group to fulfill their goal of placing retail technology at the heart of its guest experiences. The travel industry is shifting from being product-centric to guest-centric and Royal Caribbean Group has an inspiring vision to continuously provide value to every guest, at every stage of their vacation journey. Backed by next-generation cloud-based architecture, digital solutions like IBS Software's iTravelCruise SaaS platform are driving the transformation needed for companies to unlock their full growth and scale potential. We're beyond excited to be on this journey with Royal Caribbean Group as they transform the future of cruise."
More information on IBS Software's next-generation digital platform for tour and cruise, enabling cruise lines to leverage smarter technologies.
About IBS Software
IBS Software is a leading SaaS solutions provider to the travel industry globally, managing mission-critical operations for customers in the aviation, tour & cruise, hospitality, and energy resources industries.
Tour & Cruise Industry:
IBS Software's platform provides a comprehensive, customer-centric, digital platform that covers onshore, online and on-board solutions.
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Hospitality Management
IHG Hotels & Resorts | September 06, 2023
IHG Hotels & Resorts launches IHG LIFT, a program supporting under-represented groups in the US and Canada's hospitality industry.
IHG commits over $30 million in partnership with HBCUs, Clark Atlanta University, and Morehouse College. Together, they aim to remove barriers and create opportunities for diverse owner-entrepreneurs.
The program is integral to the Journey to Tomorrow 2030 responsible business plan. It aligns with IHG's commitment to promoting inclusivity and equal hotel ownership access.
IHG Hotels & Resorts (IHG), a global hospitality company, has introduced IHG LIFT, a program fostering diversity in hospitality. It provides support, capital access, and guidance throughout the hotel lifecycle for historically under-represented groups within the hospitality industry in the US and Canada.
IHG has partnered with Clark Atlanta University and Morehouse College, two prominent Historically Black Colleges and Universities (HBCUs). Over the next five years, the company has committed more than $30 million to support the IHG LIFT program.
This partnership represents a significant step toward eliminating barriers and creating opportunities for aspiring hotel owners, aligning seamlessly with IHG's commitment to diversity and equal access to resources and support.
IHG LIFT is an integral component of IHG's comprehensive Journey to Tomorrow 2030 responsible business plan. This broader strategy addresses critical issues and promotes inclusivity within the hospitality industry.
The program's primary objective is to unlock common barriers to hotel ownership among under-represented groups and empower diverse owner-entrepreneurs for success. By integrating IHG LIFT into this forward-thinking plan, IHG reaffirms its commitment to fostering a more unbiased landscape in the hospitality industry.
“As our industry grows, we need to keep our focus on enabling more success for our diverse ownership base. Barriers such as a lack of access to capital and the right networks put such owners at a disadvantage. The IHG LIFT program is specifically designed to help ease the path to ownership and ultimately support owners. Diversifying ownership is not only better for IHG, it also lifts up our entire industry.”
-Chief Development Officer, Americas at IHG Hotels & Resorts, Julienne Smith.
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