Ritz-Carlton To Launch a Luxury Cruise Service

Ritz-Carlton, a Marriott International Inc. brand, said Thursday that it's launching a luxury cruise service with three yachts in the fourth-quarter of 2019. The Ritz-Carlton Yacht Collection's first ship will cruise to places including the Mediterranean, Northern Europe, the Caribbean and Latin America, depending on the season. The ships are small-capacity vessels that accommodate 298 passengers with 149 suites each with a private balcony, and two penthouses. Because of the intimate size of the yachts, ships will be able to call at locations like Capri and Portofino that are inaccessible to large cruise ships. The yachts are also available for private charter. Reservations open in May 2018. Marriott shares are unchanged in premarket trading and up 53.7% for the last year. The S&P 500 index is up 16.8% for the last 12 months.