Dreamlines, Europe's largest cruise line online portal with headquarters In Germany, 100% announced today the acquisition of a stake in Cruise1st, a UK-based cruise company. The price of the transaction was not disclosed.
Dreamlines is one of the fastest-growing online cruise portals worldwide, with offices in Germany, Switzerland, Austria, Australia, the Netherlands, France, Russia, Brazil, and the United States. Cruise1st is a leading cruise specialist in the UK, operating in England, Australia, and Singapore. 180 Cruise1st employees will join the 400-strong Dreamlines team.
This deal marks Dreamlines' entry into the UK market. As the market leader in Germany, the company will now also strengthen its position in Australia and Singapore. On the other side of the world, Dreamlines will operate two leading brands: Cruise Away and Cruise1st.
In 2017, the combined booking volume of all brands, including Cruise1st, amounted to over €320 million. In 2018, the Dreamlines group expects global bookings to exceed €400 million, making it the largest cruise OTA outside the US market.
Dreamlines and Cruise1st will create the best cruise product for their clients by combining their expertise and capabilities. A key component is the creation of a unique cruise product, including flights, transfers to the port, and accommodations before and after the cruise. Furthermore, the company will optimize its distribution channels, allowing for even more effective customer targeting.
Felix Schneider, CEO of Dreamlines, says: "Entering the UK cruise market—the world's largest by volume—is an important step in our global strategy. We are expanding our market presence and strengthening our position as the cruise OTA with the broadest global reach. Cruise1st will allow us to offer our customers an even more unique cruise vacation and will help us grow our operator business in European markets, which is key to our future success."
Daniel Townsley, CEO of Cruise1st, said: "The companies' operating principles were so closely aligned that the future success of this collaboration was obvious. Combining a highly successful OTA with our expertise and customer base in the UK, Australia, and Singapore will lead to increased sales and profitability, and will enable tremendous growth for the business."
Alexander Frolov, General Partner at Target Global and an investor in Dreamlines: "We firmly believe in German companies expanding into international markets. We are impressed by the global growth of Dreamlines, headquartered in Hamburg. The acquisition of Cruise1st and its expansion into new markets demonstrate Dreamlines' ambitions and potential to become a global leader."
Source: trn-news.ru