Ambassadors International Inc News

Ambassadors International, Inc. (NASDAQ:AMIE) on March 24 announced that Joseph J. Ueberroth, President and Chief Executive Officer and a member of the Board of Directors, has resigned as the company's President and Chief Executive Officer effective April 1, 2009 to pursue other ventures. Ueberroth also resigned from the Board of Directors effective March 20, 2009. Mr. Ueberroth first announced his resignation in September 2008 giving the company twelve months notice. However, since the company, as previously announced, is substantially complete with the process of moving its corporate headquarters to Seattle to concentrate on its cruise business, Ueberroth felt it was now the appropriate time for him to leave. Mr.

Ambassadors International, Inc. (NASDAQ:AMIE), announced that Mark Detillion has joined the company March 23 and will become the company's Chief Financial Officer effective April 1, 2009. Detillion has expertise which includes performance and profitability analysis, and venture funding. For the past eight years Mr. Detillion served as the vice president of finance and chief financial officer for Cruise West in Seattle, WA. Prior to Cruise West he spent several years as the chief financial officer for Shilo Inns in Portland, OR. He also served as the director of finance for Holland America Lines. Detillion holds a B.A. in Accounting from the University of Washington and is a certified public accountant in the State of Washington. Ambassadors International, Inc.

Ambassadors International, Inc. (NASDAQ:AMIE) announced that Joseph J. Ueberroth, Chairman and Chief Executive Officer, voluntarily foregoes the compensation entitled to him under his employment agreement dated November 2, 2006. Under the terms of that agreement, Mr. Ueberroth was entitled to receive approximately $3m in cash (up to $6m in certain circumstances) compensation due in September 2009. In addition, he decided to forego his 2008 long-term compensation with a value of approximately $750,000 that was due per his contract in stock. Mr. Ueberroth offered to forego the compensation at a recent meeting of the Company's Board of Directors, and to work in any capacity that the Board decided would be in the best interest of the company.

Ambassadors International, Inc. it has reached a definitive agreement to acquire Windstar Cruises from Holland America Line, a unit of Carnival Corporation & plc . Windstar Cruises offers small ship cruising offering deluxe accommodations, state of the art amenities, a casual yet elegant atmosphere and exquisite service and cuisine. Windstar Cruises is comprised of a three ship fleet which includes the 312-passenger Wind Surf, and the sister 148-passenger ships Wind Star and Wind Spirit. The three ships are all motor-sail-yachts that provide a spectacular sail yacht experience to their guests featuring itineraries in the Mediterranean during the Spring, Summer and Fall, and Winter cruises in the Caribbean and Costa Rica.

Carnival Corporation reportedly signed a definitive agreement to sell Windstar Cruises brand to Ambassadors International Inc. for $100m, according to a report on www.forbes.com. Windstar has three sailing vessels in its fleet, including the 312-passenger Wind Surf and the 148-passenger Wind Star and Wind Spirit.

Carnival Corporation & plc has signed a definitive agreement to sell its Windstar Cruises brand to Ambassadors International Inc. Windstar Cruises, which operates three sailing vessels, is a wholly owned subsidiary of Holland America Line, a unit of Carnival Corporation & plc. Under the terms of the agreement, Windstar will be sold for $100 million, $40 million of which is payable in cash and assumption of liabilities, and Carnival will provide mortgage financing for $60 million. The loan will be payable over 10 years at seven percent interest, collateralized by the three Windstar ships. Windstar Cruises’ three ships include the 312-passenger Wind Surf and the 148-passenger Wind Star and Wind Spirit.

Majestic America Line said that it plans upgrades to its entire fleet of cruise ships next year. Majestic established a Midwest operations office in St. Louis this fall. State room upgrades on the company's seven ships will include upgraded mattresses and linens, massage shower heads, and spa-quality robes and toiletries. Flat screen televisions with DVD players will be added on the American Queen, Mississippi Queen and Contessa ships. The line's suites will feature a new digital entertainment system, refrigerators and in-suite safes, as well as bath slippers and in-room coffee and tea service. Majestic America Line, based in Seattle…

Ambassadors International, Inc. announced that its wholly-owned subsidiary, Ambassadors Cruise Group, has acquired the 150-passenger river cruise ship, Columbia Queen. David Giersdorf, President of Ambassadors Cruise Group, said, "We are pleased to add a seventh U.S.-flagged cruise vessel to our Majestic America Line fleet. The Columbia Queen is a spectacular, deluxe cruise ship that will operate extraordinary itineraries on the Columbia and Snake Rivers. We look forward to introducing her into operations in the summer of 2007."

The Majestic America Line, specializing in river and coastal cruising, has opened offices in Seattle. The newly formed line is operated by Ambassadors Cruise Group LLC, a subsidiary of Ambassadors International Inc. of Newport Beach, Calif. Majestic will have a staff of roughly 800, though only about 50 of them will be based in the line's headquarters at Fourth Avenue and Blanchard Street, company officials said.. The group was formed by merging Portland-based America West Steamboat Co., which was acquired in January, and New Orleans' Delta Queen Co., bought in April. It is expected to provide 75 percent of the annual revenue for Ambassadors International, which also operates a travel-and-events division and a marine-services division.

Ambassadors International, Inc., announced that its wholly-owned subsidiary, Ambassadors Cruise Group, LLC has completed its acquisition of American West Steamboat Company LLC and related entities ("American West Cruises"), one of North America's premier river and coastal cruise companies. The signing of a definitive agreement was previously announced on December 27, 2005.

Ambassadors International, Inc. announced has signed a definitive agreement to acquire 100% of the membership interests of American West Steamboat Company LLC and related entities from Oregon Rail Holdings, LLC. Founded in 1995, American West Cruises currently operates two vessels, the 231-passenger Empress of the North and the 150-passenger Queen of the West. American West Cruises' voyages are exemplified by their Cruise Into History experience in which guests and crew recreate the grandeur of the past on the company's modern-day sternwheelers with onboard historians and naturalists, visiting historical points of interest and cruising through natural scenic wonders.

Ambassadors International, Inc. announced today that it has signed a definitive agreement to acquire 100% of the membership interests of American West Steamboat Company LLC and related entities ("American West Cruises") from Oregon Rail Holdings, LLC. American West Cruises is one of North America's premier river and coastal cruise companies operating unique, historical and nature-oriented cruise itineraries on the Columbia and Snake rivers, Alaska's Inside Passage, British Columbia and Washington's Puget Sound. Founded in 1995, American West Cruises currently operates two vessels, the 231-passenger Empress of the North and the 150-passenger Queen of the West.