AKTG Secures $500 Million Of Financing From Citi To Fund Its Continued Expansion

LONDON , Aug. 12, 2024 /PRNewswire/ -- Abercrombie & Kent Travel Group (AKTG), the world's leading provider of exceptional travel experiences, today announced that it has secured and signed a definitive financing agreement for up to $500 million to fund its continued expansion of its Abercrombie & Kent global travel business. The facility has been underwritten by Citi and enables the company to restructure existing legacy financing arrangements, not only consolidating them, but achieving improved lending terms.

This gives Abercrombie & Kent a clear runway for expansion over the coming years. The funding is part of the "One A&K" strategy, which is focused on unifying every element of the business and improving the end-to-end product experience for consumers. As part of this growth, Abercrombie & Kent will invest in expanding its owned assets, globally.

This will result in new Destination Management Companies (DMCs) and physical assets such as camps, lodges, and riverboats, in existing and new markets. New DMCs are planned in Mexico and Indonesia this year, in addition to Abercrombie & Kent's existing 56 offices in 34 countries. New products have been created across the globe, from land-based itineraries to private-jet journeys on the A&K jet.

There are Expedition Cruises on all seven continents, with two new cruises launched this year. A new riverboat will launch in Peru next year, joining the company's current fleet of four riverboats in Egypt , and three expedition yachts in.