The Ritz-Carlton Yacht Collection Is Announced

The Ritz-Carlton Hotel Company expanded its portfolio by entering the luxury yachting and cruising market through the establishment of The Ritz-Carlton Yacht Collection. This initiative was developed in collaboration with maritime entrepreneurs Douglas Prothero and Lars Clasen, alongside investment funds managed by Oaktree Capital Management. The venture was designed to leverage Ritz-Carlton's renowned luxury hospitality service, which was to be provided under a long-term operating agreement. This marked a notable shift in the hospitality industry, as it was the first instance of a luxury hotel brand venturing into bespoke yacht experiences, effectively extending the Ritz-Carlton service concept from land to sea. The Ritz-Carlton Yacht Collection aimed to offer unique and personalized experiences for travelers seeking luxury on the water, combining the brand's high standards of service with the allure of yachting.