Hurtigruten and HX Complete Separation Following €540 Million Investment Deal

Hurtigruten Group AS, a well-known operator of the Norwegian coastal cruise line, and Hurtigruten Expeditions Holdings Ltd, now rebranded as HX, have officially separated into two distinct companies after being acquired by a consortium of investors, which includes Arini Capital Management, Cyrus Capital Partners, and Tresidor Investment Management.

This move does not affect current bookings, employment agreements, business partnerships, or the operational aspects of either organization. It, however, provides a significant capital boost, culminating in an investment of approximately EUR 400 million for Hurtigruten, thereby solidifying its standing as Norway’s leading coastal cruise operator with a 131-year legacy. This funding will aid in its ongoing growth and development plans. Conversely, HX secured EUR 140 million in junior funding aimed at enhancing its expedition offerings and expanding its global presence.

The market remains promising, as late 2024 saw advance bookings for both 2025 and 2026 surpassing those from the previous year. Hurtigruten, based in Oslo, will continue to operate a fleet of 10 vessels flying the Norwegian flag, with CEO Hedda Felin steering its future.

Meanwhile, HX is enjoying strong growth, with bookings for 2025 rising by 14% year-over-year, and 2026 bookings showing more than 25% growth based on a constant fleet basis. Significant fleet enhancements are set for the future, including major upgrades to the MS Fram and MS Spitsbergen in the second quarter of 2025, which will cover cabin, suite, science center, and dining area refurbishments. HX will be operating from its new headquarters in London, led by CEO Gebhard Rainer.

Set sail on a voyage of discovery with CruiseShip.net – your ultimate destination for all things cruising! Explore the latest news, insightful reviews, and thrilling cruising adventures from around the globe. Whether you’re a seasoned cruiser or a first-time traveler, CruiseShip.net is your go-to source for expert advice, insider tips, and inspiring stories to fuel your wanderlust. Embark on a journey like no other with CruiseShip.net – where every wave brings new excitement and endless possibilities on the high seas.