Viking (formerly Viking Cruises) is a cruise line providing river, ocean, and expedition cruises. Its operating headquarters are in Basel, Switzerland, and its marketing headquarters are in Los Angeles, California.
The company has three divisions, Viking River Cruises, Viking Ocean Cruises, and Viking Expeditions. As of February 2020, it operates a fleet of 76 river vessels and six ocean ships, offering cruises along the rivers and oceans of North and South America, the Caribbean, Europe, Russia, Egypt, China, and Southeast Asia.
History
Development
The company was established by Torstein Hagen in St. Petersburg, Russia as Viking River Cruises in 1997. Hagen had become involved in cruising as a McKinsey and Company consultant who helped the Holland America Line survive the 1973 oil crisis, then was CEO of the Royal Viking Line from 1980 to 1984, made money in the Russian private equity markets, then bought a controlling stake in a Dutch shipping company that failed in the mid-1990s, leaving him almost bankrupt. In 1997, Hagen helped some Russian oligarchs buy a shipping company, and in exchange, they sold him four river cruise ships cheaply, which became the founding fleet of Viking River Cruises.
1997–2010: Rapid expansion
In 2000, Viking purchased KD River Cruises of Europe, which brought Viking's fleet total to 26, making it the largest river cruising fleet in the world. The company revamped the ships, aiming for its target demographic of older travelers. The lack of frills, like gyms and pools, and the fleet's standardization also maximized the number of people the ships could accommodate and consequently, Viking's profit. Also that year, the company partnered with sales agents in the UK, and the US, and opened its own sales office in California. It hired its first marketing firm the next year, focusing on English language speakers over 55, especially Americans. The company expanded into China in 2004 with Yangtze River cruises. By 2007, it was operating 23 ships in Europe, Russia, and China. In 2009, Viking started to use ships with hybrid diesel-electric engines that the company claims use an estimated 20% less fuel than conventional engines.
2011–2019: Growth and modernization
In 2011, the company planned a new phase of growth, started sponsoring PBS's Masterpiece Theatre, and made plans to add 40 ships of a new "longship" design to its fleet over a five-year period. The longship design maximized passenger capacity by squaring the bow and rearranging hallways. It christened 10 ships in one day in 2013, and the 16 ships it christened over two days in 2014 made the Guinness Book of World Records. By 2013, the company had spent around $400 million in marketing through direct mailing, television, the web, and trade marketing. In May 2013, the company modified its name from Viking River Cruises to Viking Cruises as it announced the launch of Viking Ocean Cruises, a division of small, oceangoing vessels.
In October 2017, Viking Cruises revealed it was working on a project to develop the world's first cruise ship powered by liquid hydrogen. Once developed, the ship would measure approximately long and accommodate 900 passengers and 500 crew members. The ship would share a similar design to the company's existing oceangoing vessels.
By 2018, Viking Cruises had reached $3 billion in revenue and carried 440,000 passengers annually, employing more than 8,000 employees. That year, Viking Cruises announced it was working on its debut in the North American river cruising market after first suggesting the possibility in 2013. The company targeted a possible 2021 debut on the Mississippi River, for a projection of six vessels along the river by 2027. The vessels, built and chartered by Edison Chouest, would be designed five stories tall and accommodate around 400 passengers, at $90 million to $100 million each. Cruises would travel between New Orleans and Memphis, and between St. Louis and Saint Paul.
2020–present: Rebranding and new ventures
In January 2020, the company shortened its name to Viking, citing the brand's added emphasis on destination-oriented enrichment and experiences. That same year, Viking also announced the launch of Viking Expeditions with a planned January 2022 debut. It would become the expeditions arm of the brand and operate small-ship trips to exotic destinations. It also finalized its river cruising business' expansion plans into the United States with the announcement of the first vessel's debut in August 2022 on the Mississippi River.