SURFSIDE, FL – MARCH 11: Nadim Ashi (C) and guests attend the Four Seasons Hotel at The Surf Club Grand Opening on March 11, 2017, in Surfside, Florida. Ashi is now extending his Four Seasons partnership to a luxury yacht fleet, following the Four Seasons I maiden Mediterranean voyage in March 2026 with a second vessel scheduled to debut in 2028. Photo by Gustavo Caballero/Getty Images for Four Season Hotel

Nadim Ashi is taking his Four Seasons partnership offshore, expanding from luxury hotels into a yacht fleet. Four Seasons I began its maiden Mediterranean voyage on March 20, and a second yacht is scheduled for 2028. His company has also signed an agreement for a third vessel, subject to financing and other conditions.

The Miami-based founder and CEO of Fort Partners also founded and chairs Marc-Henry Cruise Holdings, a joint owner and operator of Four Seasons Yachts. In July, Marc-Henry signed a third-vessel agreement, which shipbuilder Fincantieri placed in its large-value bracket of 500 million euros to 1 billion euros (about $560 million to $1.12 billion). The planned delivery date is 2031.

This commitment doesn’t come out of thin air. As brands work through the luxury slowdown, hospitality companies are capitalizing on demand for experiences. This can be seen across the travel sector, from high-end sports experiences to premium transportation.

Ashi is bringing an existing circle of partners offshore. He is the real estate and hospitality developer behind Four Seasons projects in Rome, Marbella and Corfu through his firm Fort Partners. In January, Fort Partners and CMC Group secured a construction loan of nearly $324 million for Four Seasons Private Residences Coconut Grove in Miami.

Fort Partners’ flagship is the Four Seasons Hotel and Residences at The Surf Club in Surfside, Florida. London investment firm Heritage Advisors, founded by Sheikh Sultan bin Jassim Al Thani, describes itself as an early cornerstone investor in Marc-Henry. It has also worked with Fort Partners since 2018.

Marc-Henry oversees nautical operations, while Four Seasons manages hospitality and service.

Ben Trodd, who became Marc-Henry’s CEO in July 2025, oversees technical operations, crew operations, deployment and sales and marketing. A former Aman chief operating officer, he previously spent more than 25 years at Four Seasons.

“The Four Seasons is a pretty fascinating example of how luxury hospitality brands can leverage trust, something that they’ve spent decades building,” Amy Norman, founder and CEO of luxury travel company Nellie, tells Observer.

Ashi’s team withdrew from a planned interview and did not respond to subsequent inquiries. The venture’s public announcements do not detail his personal capital contribution, ownership percentage or its profitability.

What Ashi is financing

The expansion began well before the first sailing. Marc-Henry ordered its second yacht in 2023, in a contract worth more than 400 million euros.

The company said it had secured financing in May 2025.

Four Seasons I is built around space and service. Fincantieri constructed the 679-foot yacht with 95 suites. Four Seasons advertises one staff member per guest, making staffing both part of the appeal and an operating cost.

There is plenty of polish to sell. The ivory hull was inspired by the vintage Porsches in the studio of Tillberg Design of Sweden’s Fredrik Johansson. The Funnel Suite spans more than 9,500 square feet of indoor and outdoor space across four levels, with a private splash pool. Four Seasons II will have 79 suites, including new residential-style accommodations the company is marketing to families and groups.

Four Seasons Yachts isn’t the only player in this niche. The Ritz-Carlton Yacht Collection launched its first vessel, Evrima, in 2022 and now runs a three-vessel fleet. The company, led by president and CEO Ernesto Fara, operates under royalty and licensing agreements with Marriott and its affiliates.

While Four Seasons Yachts is in its first year of sailing, the Ritz-Carlton Yacht Collection’s holding company, Cruise Yacht Upper HoldCo, provides a peek into the finances of running such an operation. Its unaudited report for the six months ending June 30 put the share of available passenger capacity used at 51 percent. Passenger cruise days and pricing increased, but capacity expanded faster than passenger use.

The same report records a roughly $171 million deferral of scheduled loan repayments in May, alongside a $167 million equity injection from shareholders. The new equity and later repayment schedule gave the group financial support as it built demand for its larger fleet.

Those are the Ritz-Carlton Yacht Collection’s figures, not Four Seasons Yachts’ results. For Ashi and his partners, they offer a useful comparison: Demand can grow while a larger fleet still requires support from lenders and shareholders.

Extreme weather events in popular yachting destinations like the Caribbean and Mediterranean aren’t something Ashi, Four Seasons Yachts and their competitors can ignore. Moreover, fluctuating fuel costs and, more broadly, unpredictable geopolitical ebbs and flows worldwide can disrupt yacht operations, reducing operational wiggle room.

Four Seasons service at sea

Whether Ashi’s gamble pays off will ultimately depend on how seamlessly Four Seasons can translate its land-based luxury to the unpredictable open waters. In an industry defined by massive capital demands and operational risks, reputation is everything. 

As Ashi expands the fleet, Trodd and his crews must deliver the service guests associate with Four Seasons. That means coordinating a hotel operation with a ship’s crew, route and provisioning.

“I think we’re going to see a lot more luxury hospitality brands pursuing this strategy, but the real test will be whether they can land the exceptional personalized service at sea that they’re known for on land,” Norman says.

For Chris Demaillet, founder and CEO of private chef placement company Montclair Chef, that transfer is not automatic. A former private chef on yachts, he knows how much the experience depends on what you bring aboard.

“This is a moving vessel,” Demaillet tells Observer. “There are opportunities to reload provisions, and if you don’t have them for any reason, this could be difficult.”

Then there’s weather.

“If the sun is shining, everyone is happy,” Demaillet says. “But if you have a storm and you can’t move, you have to keep these guests entertained. It adds a level of complexity to the catering and hospitality experience that these big brands aren’t used to.”