Windjammer Sailing

About the offering

The modern cruise market and cruise experiences have fundamental flaws that present a great opportunity for Windjammer Sailing Adventures. Mainstream cruise lines have prioritized scale over experience, leading to customers packed in long lines for overly commercial and inauthenic experiences. Specialty cruise offerings have grown in recent years as a result of obvious demand, but the market remains widely fragmented and focused on stuffy luxury experiences. There is an opportunity to provide an intimate and personalized cruising experience that does not include compromises made by mass market cruise lines that Windjammer Sailing Adventures is uniquely positioned to seize. Windjammer Sailing Adventures has plans to fill this gap in the market, offering an intimate and authentic cruise experience at a price point accessible to normal families. Rooted in the history of Windjammer Cruises, Our vision is to establish the premier fleet of Caribbean-sailing cruise vessels, beginning with our Queen of the Sea - the S/V Mandalay. S/V Mandalay The S/V Mandalay offers a nostalgic glimpse into the past. Built in 1923 by financier E.F. Hutton for his wife, Marjorie Merriweather Post, this steel-hulled 236-foot schooner was initially named Hussar. Renowned for its luxury, it was later sold to George Mendelson and renamed Vema. During WWII, Vema served as a merchant marine cadet training ship and subsequently became a renowned oceanographic research vessel for Columbia University. During her time with Columbia, the S/V Mandalay logged more than one million ocean miles and was used by the University to prove the Continental Drift Theory. The S/V Mandalay later served as the top-of-the-line sail ship for the legendary cruise company, Windjammer Barefoot Cruises. Today, as the S/V Mandalay, it can accommodate 70 passengers and 30 crew, offering an invigorating sailing itinerary unavailable to normal cruise line passengers. The Mandalay’s timeless charm, with her teak decks and original woodwork, provides a unique blend of past and present, delivering an unparalleled escape to breathtaking islands and their shimmering aquamarine waters. Windjammer Sailing Adventures has acquired the S/V Mandalay and with your investment is planning a full restoration to return her to her former glory and serve as the flagship of a Windjammer cruise fleet in the Caribbean. What is a "Windjammer" "Windjammer" evokes a lifestyle steeped in maritime tradition, embodying the spirit of adventure and a deep connection to the sea. It signifies an authentic way of life characterized by a passion for sailing, a love for exploring uncharted waters, and an appreciation for the natural world. This term captures the essence of seafaring culture, where the journey is as important as the destination. It reflects a commitment to preserving the purity and tranquility of ocean travel, celebrating the freedom and serenity that come with harnessing the power of the wind. Cruise Market Overview The global cruise market size is expected to reach 18.30 billion US Dollars by 2030, registering a CAGR of 11.5% during the forecast period. This growth is driven by the rising popularity of specialized cruises, attracting various consumer groups with boutique experiences such as kids-related, yoga, mystery, and adventure. These cruises offer unique and fun experiences that go beyond traditional cruising. According to the Cruise Lines International Association, Gen Z is set to become the largest consumer group in the cruise industry, surpassing millennials. This generation's desire for unique and authentic experiences, coupled with their enthusiasm for travel is expected to drive significant market growth. Due to the limited number of companies in the industry and rising concerns over ocean pollution and impact on marine wildlife by mega cruise lines, there is a major market opportunity for the Windjammer Sailing Adventures model. Over the past decade, the cruise ship market has experienced significant growth, driven by increasing demand for unique and immersive travel experiences. Despite the challenges posed by the pandemic in 2020, the industry has shown remarkable resilience. As restrictions lifted, travelers eager to escape the confines of their homes turned to cruising as a way to explore the world safely. This surge in interest has led to a rapid recovery and expansion of cruise offerings, catering to a diverse array of tastes and preferences. Windjammer Sailing Adventures offers something traditional cruise ships cannot—access to smaller, exclusive ports with inclusive experiences that large commercialized ships simply can't reach. Windjammer Sailing Adventures focuses on authentic, intimate sailing experiences, allowing travelers to discover hidden gems and remote destinations. Windjammer Sailing Adventures embraces sustainability and a love for nature, providing an eco-friendly way to explore the Caribbean's pristine waters. As people continue to prioritize health, wellness, and sustainable travel, the cruise ship market is poised for continued growth, with Windjammer offering a unique and responsible way to experience the sea. Competitive Landscape The boutique cruise market consists of approximately 20 existing ships, offering various sailing experiences, visiting exclusive ports and providing guests with a taste of maritime tradition. Notable vessels include the American Eagle, Angelique, Grace Bailey, Heritage, J. & E. Riggin, Ladona, Lewis R. French, Mary Day, Stephen Taber, Diamant, Lyra, Vela, The Swift, Sea Cloud, Star Clipper, Star Flyer, Sea Cloud ii, Sea Cloud Spirit, and Royal Clipper. Among these esteemed vessels, few can match the legacy, size, and authenticity of the S/V Mandalay. Built in 1923 and steeped in rich history, the S/V Mandalay stands out for its grandeur and storied past. The S/V Mandalay is a unique gem in the Windjammer space with its extensive teak decks, original woodwork, and ability to access remote and seldom explored ports of call due to an 18 foot draft and sleek maneuverability. The S/V Mandalay's ability to combine historical charm with modern amenities sets it apart from the competition. While ships like the Sea Cloud and Royal Clipper offer impressive journeys, the Mandalay's free-spirited culture, island crew, original routes, and exclusive ports of call create an unmatched sailing adventure. Passengers aboard the S/V Mandalay can enjoy a truly authentic maritime experience, immersing themselves in a blend of history, discovery, and the natural beauty of the seas, making it the crown jewel of the market. Windjammer Legacy Dear Friends, Colleagues, Windjammer Friends and Fans and all of those who have ever Harbored a Dream of Sailing on a Tall Ship, I am thrilled to announce the complete acquisition of the SV Mandalay by Windjammer Sailing Adventures. This marks a significant milestone in our mission to honor the legacy of Captain Mike Burke and the cherished era of Windjammer Barefoot Cruises. While the original company went bankrupt in 2007, the spirit and culture of Windjammer, with its blend of adventure, fun, and informality, have endured. Our commitment to this legacy is demonstrated by our purchase of Windjammer memorabilia and our efforts to establish a museum dedicated to its history. The SV Mandalay is currently in St. George's, Grenada, and will soon undergo a comprehensive restoration in Port of Spain, Trinidad, expected to be completed within six to eight months. We are excited to revive the traditions and experiences that made Windjammer so beloved, including Rum Swizzles, story time, and sleeping on deck. Joining us on this journey are esteemed veterans of Windjammer and new team members, ensuring that the magic of Windjammer lives on. We eagerly anticipate welcoming you back aboard for new adventures and creating unforgettable memories together. Fair Winds, Charles J. Kropke, CEO, Windjammer Sailing Adventures Product Offering Windjammer Sailing Adventures (WSA) is reviving the allure and romance of sailing schooner cruises in the Caribbean with two iconic vessels: the S/V Mandalay and the S/V Lili’uoakalani. In our first years of operation, the focus will be on restoration and operation of the S/V Mandalay, a meticulously restored 70-passenger ship from the 1920s. The S/V Lili’uoakalani, formerly the Baltic Star, will be transformed into a four-mast schooner with a 200-guest capacity, set to join the fleet as our flagship in the second year. Our cruises are designed to offer intimate and personalized experiences, with planned itineraries that include a 6-day journey from Grenada exploring various Caribbean islands, and bespoke shore excursions crafted with local partners. Onboard and Shore Experiences Guests on WSA cruises will enjoy a range of unique onboard and shore experiences. Onboard the S/V Mandalay, we offer farm-to-table dining with fresh ingredients sourced from each port, sunset sails, stargazing, and enrichment activities led by guest speakers and artisans. Water-based activities such as snorkeling, kayaking, and paddleboarding are available, alongside amenities designed for relaxation and pampering. Shore excursions are curated to provide authentic cultural experiences, highlighting hidden gems and allowing guests to immerse themselves in the local culture. Our themed voyages, focusing on cuisine, ecology, and adventure, bring experts onboard to enhance the journey. Revenue Model and Target Market Our revenue model combines ticket sales, onboard sales, excursions, and an online shop, with an anticipated average occupancy rate of 92% over 308 sailing days per year. We target affluent, educated travelers aged 34-50, who make up 39.3% of our market. These customers, primarily from the US, have annual household incomes of $100K-$200K and value immersive cultural experiences and unique adventures. We anticipate a revenue model of 75% B2C sales with 25% B2B for corporate charters and weddings/events. Our go-to-market strategy includes online channels like social media and our website, as well as offline channels such as specialty travel partners, events, and a call center. This approach aims to create an exclusive brand image and build a community of culturally curious travelers, positioning WSA to capture a growing share of the specialty cruise market. Even without a firm sailing date, WSA already has a 700+ person waitlist and prebooked corporate charters accounting for over $2.0M in combined revenue. This illustrates the value of the Windjammer brand and pent up demand for this type of cruise offering. Comps The historic sailing vessel market is understandably one with limited comparisons, however one vessel similar to the Mandalay recently went on sail and serves as an illustration of the potential in a restored S/V Mandalay. After recently undergoing a full restoration, the Christina O has been listed for sale at a value of 96.5 million dollars. While there are differences between the ships, the Christina O has a similar size and historic past to the S/V Mandalay and showcases the significant value that this class of restored historic vessels can hold. To learn more about the Christina O, you can check out their article in AutoEvolution here.

FAQ