Hornblower gets bankruptcy court approval of bid procedures for AQV

By Sarah Lizee

Olympia, Wash., Feb. 28 – Hornblower Cruises and Events, Inc. received approval of the bid procedures for its American Queen Voyages (AQV) assets, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

As a reminder, the company said it has entered into an agreement with its investors, under which funds managed by Strategic Value Partners, LLC and its affiliates will acquire majority ownership of Hornblower and provide a significant equity investment in the business.

Crestview Partners will retain a significant minority position in Hornblower and become the sole owner of Journey Beyond, a stand-alone operating unit of Hornblower in Australia.

Hornblower’s overnight cruising business AQV will be sold, or, if a sale cannot be achieved, its operations will be wound down.

Under the bid procedures, the deadline to choose a stalking horse bidder is 5 p.m. ET on March 15, the bid deadline is 5 p.m. ET on March 25, an auction is scheduled for March 27, and a sale hearing will take place on April 4.

Hornblower is a San Francisco-based cruise and event company. The company filed bankruptcy on Feb. 21 under Chapter 11 case number 24-90087.

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