Hornblower's Private Equity Backers Help It Grow Travel Experience Ambitions

Hornblower Group could have been a pandemic casualty, but its main private equity backer Crestview Partners doubled down on supporting the New York-based travel experiences operator — which has continued to grow through acquisitions.

Hornblower last week closed on a $430 million acquisition of Journey Beyond, an Australian ferry operator and tours and activities provider. The deal adds an array of experiences to the portfolio. Activities include scenic overland rail trips, outback glamping, multi-day visits to the Great Barrier Reef, seaplane rides, a Melbourne skydeck, and many harbor cruises.

"Our strategy is that we want to be the premier global experiences and transportation leader," said CEO Kevin Rabbitt — an operating executive on behalf of Crestview.

Hornblower's deal Down Under comes during an 18-month buying binge. It has bought tour company Walks, culinary walking tour operator Devour, Boston Harbor Cruises, and a couple of vessels for charter sailing. Last week Hornblower launched Venture Ashore, which calls itself the world's largest independent cruise excursions provider.

"With these portfolio additions, we're well on our way towards achieving our strategy," Rabbitt sai