Hornblower CEO Starts Post-Bankruptcy Pivot for Travel Experiences Company
Skift Take
Key Points
- Mike Flaskey, new CEO of Hornblower Group, focuses on enhanced onboard experiences to drive growth.
- Flaskey plans to introduce new entertainment options and expand corporate programs.
- The company emerged from Chapter 11 bankruptcy with a focus on leveraging its customer base for marketing.
Summary
Hornblower Group's new CEO, Mike Flaskey, is focusing on enhanced onboard experiences to drive growth post-bankruptcy. Flaskey, who previously led Diamond Resorts, aims to leverage his hospitality and entertainment background to revitalize the company. Key strategies include the introduction of headlining musicians and televised sports events, expanding corporate team-building and reward programs, and capitalizing on the company’s customer base for affiliate marketing opportunities.
Hornblower Group's new CEO, Mike Flaskey, is betting on enhanced onboard experiences to drive growth as the company emerges from Chapter 11 bankruptcy. Flaskey, who took the helm on August 1, aims to leverage his background in hospitality and entertainment to revitalize the experience and transportation company.
Flaskey, the former CEO of Diamond Resorts, talked with Skift about his strategy for Hornblower Group, an experience and transportation company.
"We're just scratching the surface," Flaskey said, referring to Hornblower's potential.
Key Hornblower Developments
- Hornblower racked up $1.2 billion in debt, partly due to pandemic travel restrictions hurting its business.
- Flaskey said the company recently emerged from bankruptcy and now has a “pristine balance sheet."
- The group expects to serve about 20 million customers on ferry services, cruises, and tours this year.
- The new CEO plans to introduce headlining musicians and televised sports events. His strategy also includes expanding corporate team-building and reward programs.
A Turnaround Artist's Playbook
Flaskey believes his background will help with Hornblower's turnaround. He orchestrated Diamond Resorts' $4.5 billion sale to Hilton Grand Vacations in 2021. He attributes the successful exit to Diamond's focus on curated experiences, a strategy he intends to replicate at Hornblower.
“I’m proud to say that we were a first mover in the experience space as it relates to the hospitality industry,” Flaskey said.
Diamond Resorts' experiences offering included over 3,000 unique special events, everything from food and wine to live music, sports, and entertainment.
“That was really the number one reason why we successfully sold the business to Hilton Grand Vacations,” Flaskey said.
Hornblower Overhaul
As CEO of Hornblower, Flaskey has similar plans to focus on experiences.
“We’re seeing more companies focused on team building activities, rewards, and recognition," Flaskey said. "Our ships are the perfect venue for that."
He plans to capitalize on the company's extensive customer base for affiliate marketing opportunities. The CEO also wants the company to do more face-to-face marketing and improve direct bookings in the tourist districts where Hornblower is already present.
Flaskey's appointment and strategic shift signal Hornblower's intent to aggressively pursue market share in the competitive travel experiences segment.
Photo Credit: One of Hornblower's ship on the Canadian side of Niagra Falls. Flickr
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