Jewel River Cruise Line Update
Jewel River Cruise Line, the company launched last November by former Silversea President and CEO Albert Peter and former Celebrity Cruises executive Jacques Wulffaert, on Friday said it would postpone the debut of its luxury brand, Jewel River Cruises, and consolidate the company.
In a statement, Jewel River said launching the first boutique-luxury ship in the river cruise industry had become increasingly challenging given the current worldwide economic climate and uncertainties in the international financial markets. Jewel River Cruise Line’s two other brands -- the premium Emerald River Journeys and the contemporary Aqua River Journeys -- will continue to operate. These ships are currently chartered to European tour operators through 2009.
Jewel River’s Fort Lauderdale office will be scaled back and operations will move to the European headquarters in Wollerau, Switzerland. President and COO Wulffaert will remain in Florida. Founder and Chairman Albert Peter will continue to move between the two offices. Wulffaert will concentrate on liaising between the charter operators and tour operators, as Peter continues to meet with financial institutions. “We still believe that a boutique-luxury brand in the river cruise industry is a sound and viable proposition,” said Wulffaert. “The river cruise market has been experiencing a boom and there is currently no true luxury brand in the market. We expect that when the economy stabilizes and credit becomes more readily available, we will be well positioned to be a dominant player.”
Jewel River had planned to offer the first ultra-luxury river cruise product in Europe. Its first ship, Jewel Imperial Blue, was expected to operate 10-day vacations on the Seine River in France to and from Paris. The ship was purchased from an individual owner and was set to undergo a $3.5 million transformation. The vessel was going to be converted to an all-suite vessel that accommodated 90 guests in 45 suites.
Under the original plan, the ultra-luxury venture was to be financed by its two other divisions, which were set to provide equity and cash flow, according to Peter, who had partnered with river cruise veteran Ulrich Baur and Swiss financier Eberhard Henter-Besting to form his company. The Jewel brand was going to be sold only to Americans exclusively through travel agents. Silversea veteran Jim Burnside had been named chief information officer and vice president-revenue management, reservations and IT. Terri Haas, vice president-sales, had joined the company from Costa Cruise Line. Calls to Jewel’s spokeswoman to see if those executives were still employed by the line had not been returned at press time. For more information on Jewel, call 866-342-7607 or visit www.jewelrivercruises.com.






