Hurtigruten Group AS, operator of the Norwegian coastal cruise line Hurtigruten, and Hurtigruten Expeditions Holdings Ltd (recently rebranded as HX), have formally separated into distinct entities following their acquisition by a consortium of investors, including Arini Capital Management, Cyrus Capital Partners, and Tresidor Investment Management.
The transaction does not impact existing bookings, employment agreements, business partnerships, or operational continuity for either company. However, it provides substantial new capital to support future growth. Upon completion, Hurtigruten receives an investment of ~EUR 400 million, reinforcing its position as Norway’s premier coastal cruise operator with a 131-year legacy while enabling expansion and development initiatives. HX secures EUR 140 million in junior funding to enhance its expedition offerings and extend its global reach.
Market demand remains robust. As of late 2024, advance bookings for 2025 and 2026 outpaced prior-year figures. Hurtigruten, headquartered in Oslo (Norway), will maintain a fleet of 10 vessels under the Norwegian flag, with CEO Hedda Felin at the helm.
HX continues to experience strong momentum, with 2025 bookings up 14% year-over-year and 2026 bookings showing over 25% growth on a constant fleet basis. Fleet enhancements are planned, with MS Fram and MS Spitsbergen scheduled for extensive upgrades in Q2 2025, including cabin, suite, science center, and restaurant refurbishments. The company will operate from its new London headquarters under the leadership of CEO Gebhard Rainer.