A&K Travel Group is exploring an IPO

His comment to Seatrade Cruise News follows a report in the UK's Telegraph that A&K has begun talking with bankers about an initial public offering in 18 to 24 months.

Cristina Levis envisions A&K Travel Group becoming becoming 'the Louis Vuitton Moët Hennessy of luxury experiential travel' PHOTO: CRYSTAL

CEO Cristina Levis told the Telegraph an IPO could help her company become 'the Louis Vuitton Moët Hennessy of luxury experiential travel.'

Investor appetite for luxury

A&K's ambitions were no doubt buoyed by Viking's highly successful debut on the New York Stock Exchange in May. Investor appetite for luxury travel was further demonstrated by Apollo Funds acquiring Uniworld parent The Travel Corporation last month.

Among luxury cruise operators, The Ritz-Carlton Yacht Collection has also expressed the desire to go public eventually.

New York listing favored

Levis indicated New York for the listing rather than London but said several European stock markets were also being considered. The US represents the company's largest revenue source.

The A&K spokesperson declined to address further questions, saying the Telegraph report would stand for now.

The Telegraph put A&K's 2020 revenues at $528m with a $22m pre-tax profit. Levis cited 'very strong demand,' apart from pockets like the Middle East, and high spending on luxury trips.

Recent refinancing

A&K recently refinanced with a loan for up to $500m from Citi which it said improved terms and gave a 'clear runway for expansion over the coming years,' resulting in new destination management companies and assets such as camps, lodges and riverboats in existing and new markets. 

A new riverboat is scheduled to enter service in Peru next year, joining the company’s fleet of four in Egypt, and three expedition yachts in the Galápagos Islands under the Ecoventura brand. 

A&K operates small group tours around the world, including by private jet, and expedition cruises on all continents.  

Crystal newbuilds coming

In June the company inked a memorandum of agreement with Fincantieri for a pair of 690-passenger, 61,800gt all-suite ships for Crystal. The first would be delivered in spring 2028 with a date for the second to be advised. The order includes an option for a third ship in 2032.

This followed Levis's year-ago announcement of plans for four newbuilds in six years including two 'classic' ships and two expedition vessels.

Besides Abercrombie & Kent and Crystal, A&K Travel Group owns Cox & Kings and Sanctuary Retreats. Holdings include 12 camps and lodges in Africa, with a new one set to open next year in Kenya’s Amboseli. New DMCs are planned in Mexico and Indonesia this year, in addition to A&K's 56 offices in 34 countries.