Sir Richard Branson has revealed that Virgin will commission two giant cruise ships, spending billions of dollars on the new venture.
In an interview with The Telegraph UK, Sir Richard said the ships are likely to be built in a German or Italian shipyard and will take four to five years to complete with a total cost of around US$1.7 billion.
“We’re in the final throes of those negotiations,” said Sir Richard.
Virgin Cruises will be based in Miami, South Florida and financial backing has been secured from private equity firm, Bain Capital.
Sir Richard has also hired Tom McAlpine, a veteran in the industry who was part of the management team that founded Disney Cruise Line in 1996. He will head the new company.
The company said it will offer a cruise experience which is more connected to the ocean and feature a more informal environment that is hip and cool.
According to FOX News, Virgin Cruises plans on delivering the two new 4,200 passenger cruise ships to sail around the Caribbean.