Parent company of Windstar Cruises sheds more assets in...*Includes Windstar Response

[Snow cat]

Well I guess the good news is that they made the required interest payment, and appear to be making every effort to streamline their operations to ensure continued operation of Windstar.

[hmorrow]

Well, our insurance's 14 day wait period for bankruptcy is over on Monday. I'll breathe easier, knowing the total trip, pre and post included, is covered. However, I do hope they are able to continue business as usual, as we really really like Windstar, and would continue to sail them in the future...........

[kimiata]

We are on the Wind Surf right now, and we have seen nothing that would indicate that there are any problems or financial concerns. The hotel director told us last night that they are exploring new itineraries for the 2011 season.

[LauraS]

Hello Everyone:

 

I received the following information from Windstar Cruises today. It be posted below in its entirety:

 

"Windstar Cruises continues to provide our loyal guests with the award-winning, luxurious, yet casually elegant experience Windstar is known for. Windstar released its 2010 and Winter 2011 Voyage Planner in April with new itineraries, sought-after ports, and a captivating Signature Collection line-up. Windstar also recently reported the highest booking volume of the year. To respond to this demand, Windstar’s call center will now be open 7 days a week.

Ambassadors International, Inc., parent company of Windstar Cruises, announced February 11, 2009, that it would become a cruise only company and focus all capital and efforts on Windstar Cruises and the small ship luxury segment. As a result, Ambassadors would sell its principal non-Windstar assets including its marine as well as its travel and events divisions. The company believes that Windstar has the most upside to its shareholders and a successful sale of Ambassadors’ other divisions provides the company stability in a difficult economic environment. Ambassadors announced the sale of its marine division to Bellwether Financial Group, Inc., last week, and announced the sale of the housing assets of its travel and events division to Lakeview Equity Partners in April. Regarding a Securities and Exchange Commission filing, Ambassador’s loan covenants provide a 30-day grace period and the required interest payment was made by the company within the allotted timeframe meeting this obligation."

 

 

End of Windstar statement.

 

 

 

[Weho5]

Having sailed on Windstar I have the highest regard for their unique product. At the same time, simple economics dictates that it would be, at the very best, a challenge to earn a profit with 2 small vessels - taking into account the cost of marketing a brand with so few berths. Add to that the circumstances surrounding Art Rodney's departure from Crystal and my concerns increase. They might have positive cash flow, but I have no confidence in Mr. Rodney's ability to make theline profitable. For some companies, like Silversea, positive cash flow is enough - but I don't think that is true for Windstar.

[SeaDawg]

Is Windstar Cruises in trouble? That's the general takeaway among Cruise Critic members who have read a couple of different blog postings this month on USA Today's Cruise Log.

 

 

Windstar Cruises: On an Upswing or Losing Steam?

[Weho5]

Diane Moore, President of Windstar, has issued a statement stating that, while, as a public company, Ambassadors has to adhere to SEC public disclosure requirements, Windstar's operations are not threatened. I have very high regard for Diane - a true professional who came to Windstar from HAL. I jst hope Art Rodney stays out of the picture and doesn't interfere with Diane's management of the cruise line. In fact the best thing Mr. Rodney could do for Windstar is to resign from Ambassadors as soon as they dispose completely of all their other assets and go back into retirement.

[SeaDawg]

Windstar Cruises President Diane Moore said the company is likely in a "better position" now than it has been in the past year despite the financial woes of Ambassadors International. Moore said that the company is required to report risks to the Securities and Exchange Commissions, but that Windstar's current reality is better than it may seem. "We, as a public company, have to disclose any risk. It doesn't mean it's [imminent]," Moore said. Travel Weekly (05/21)

[lovecruisingtoo]

Let's hope it is true. However, I am concerned how they can absorb all the operating / overhead costs with only 600 passengers (max) at any one time without significantly increasing fares.

[eh2zed]

We just got our schedule too.

[brazzleman]

We booked a fall 2 week Rome to Lisbon sailing for an amazingly low price a few months ago, and are a little worried about all this, but our trip insurance is in place.

 

Interestingly, a southern California winery, Tobin James, (that we are a member of their wine club) recently emailed that they are planning to charter the Windspirit for a wine club cruise - no dates were listed, but I'm highly interested in that type of specialty cruise on the small ships. I'm hopeful that totally concentrating on the cruise ship line only will eventually benefit all of us who love to cruise w/them.

[chicagogal]

We booked a fall 2 week Rome to Lisbon sailing for an amazingly low price a few months ago, and are a little worried about all this, but our trip insurance is in place.

 

Interestingly, a southern California winery, Tobin James, (that we are a member of their wine club) recently emailed that they are planning to charter the Windspirit for a wine club cruise - no dates were listed, but I'm highly interested in that type of specialty cruise on the small ships. I'm hopeful that totally concentrating on the cruise ship line only will eventually benefit all of us who love to cruise w/them.

 

Please post what you find out about the wine cruise - preferably in another thread where we won't miss it. That sounds very interesting. Thanks.

[lovecruisingtoo]

Would like to know also.