Margaritaville

The company will continue to offer, from the Port of Palm Beach, its threeday, two-night getaways to Grand Bahama Island aboard the Margaritaville at Sea Paradise. The vessel was overhauled in 2020 to reflect the Jimmy Buffett theme.

Christopher Ivy, CEO of Margaritaville at Sea, said the purchase of the second ship was to accommodate requests from customers for longer itineraries and new ports of call.

“The addition of the Islander is an exciting moment for Margaritaville at Sea and marks the next chapter of growth for our business. We are also pleased to add Tampa as a new homeport, the perfect location to provide access to our new itineraries in and around the Gulf of Mexico,” Ivy said.

Will the Tampa ship take away Palm Beach cruise traffic?

Ivy said the purchase of the second ship is about growing the company’s brand. He does not expect the Tampa cruises to negatively affect Palm Beach, adding that the ships are going to different ports and the Tampa cruises are of a longer duration.

Evidence of the expected continued popularity of the Palm Beach cruises is that the third weekly cruise from Palm Beach will be offered in the summer, Ivy said.

The Margaritaville at Sea Islander was bought from Costa Cruises, a subsidiary of Carnival Corporation. It had been known as Costa Atlantica.

The new ship will feature an atrium bar, a three-story poolside LandShark Bar and staples that are currently offered on the Palm Beach-based Margaritaville at Sea Paradise — Paradise Pickleball at Sea, Frank and Lola’s Pizzeria, Margaritaville Coffee Shop and Cheeseburger in Paradise.

Port of Tampa CEO Paul Anderson called the new ship “a great addition to our portfolio of cruise lines and a fantastic new option for cruisers from Florida’s west coast.”

NY -based private equity firm now operating Margaritaville at Sea

The company has acknowledged that new ownership is operating the cruise line.

Ivy declined to offer details but The Post has learned that Sycamore Partners, a New York-based private equity firm, is the hedge fund that now has a controlling interest in Margaritaville at Sea.

Sycamore Partners, according to its website, has more than $3.5 billion in capital under management. It says its strategy is to partner with management teams to improve the operating profitability and strategic value of their businesses.

It already owns Azamara, a cruise line with midsized ships that sail to marquee ports around the world, according to the Sycamore Partners’ website.

Azamara offers 10-day cruises from Fort Lauderdale to the British Virgin Islands, St. John, Saint Maarten and Saint Kitts.