SEATTLE -- Alaska expedition operator Glacier Bay Cruiseline is
under new ownership.
A group of investors, including Bob Brennan, former president of
Sunmakers Travel Group, acquired the assets of Glacier Bay
Cruiseline from Juneau-based Goldbelt Inc.
The acquisition includes three of the line's small ships, the
87-passenger Wilderness Discoverer, the 69-passenger Wilderness
Adventurer and the 31-passenger Wilderness Explorer, each equipped
with a fleet of sea kayaks. Brennan said he was negotiating to
purchase a fourth Glacier Bay vessel, the Executive Explorer.
Terms of the deal were not disclosed, but Brennan said the
investors paid less than Goldbelt's $11 million asking price.
Glacier Bay occupies a small niche in the Alaska cruise market
and emphasizes adventure travel over mega-ship glitz -- its ships,
for example, are nicknamed "SUVs," or sport utility vessels.
But a weak economy and world events made it "extremely difficult
for Glacier Bay to sell all available space," Goldbelt president
Gary Droubay said
in a company newsletter last spring, and the capital
contributions Goldbelt made to the line had "resulted in a
working-capital deficiency for Goldbelt and several of our other
To contact reporter Rebecca Tobin, send e-mail to [email protected].