Beyond Tourism: Hornblower Taps Infrastructure Chief for Next Wave

ORLANDO, FL – December 02, 2025 – Hornblower Group, a name synonymous with iconic water tours from Alcatraz to the Statue of Liberty, has announced a leadership change that signals a profound strategic shift. The appointment of Stephen A. Edwards, a seasoned executive from the world of large-scale marine ports and container terminals, as its new Chief Executive Officer is far more than a routine C-suite shuffle. It is a calculated move that suggests Hornblower, under its new majority ownership, is charting a course beyond tourism and entertainment, positioning itself as a pivotal player in the future of North American transportation infrastructure.

This transition comes just months after Hornblower navigated a significant financial restructuring. Emerging from Chapter 11 in July 2024, the company shed approximately $720 million in debt and its underperforming overnight cruise division, American Queen Voyages. Now financially revitalized and with global investment firm Strategic Value Partners (SVP) at the helm as majority owner, Hornblower is not just looking to stabilize—it's preparing to build. The choice of Edwards as the architect of this new phase is the clearest signal yet of the company's ambitious new blueprint.

From Ports to Passengers

To understand the significance of this appointment, one must look at Stephen Edwards’ resume. He isn't a hospitality veteran or a tourism mogul. He is an infrastructure heavyweight. As CEO of the Virginia Port Authority (VPA), he successfully orchestrated a $1.4 billion capital investment program, deepening and widening the harbor to accommodate the next generation of massive cargo ships. His career is a highlight reel of managing complex, capital-intensive operations at major container terminal operators like TraPac, Global Container Terminals, and Ports America.

This background is a stark departure from Hornblower’s traditional focus. While the company has always operated ferry services, its brand identity is deeply rooted in the guest experience—dining cruises, sightseeing tours, and memorable excursions. Edwards’ expertise lies not in champagne brunches, but in logistics, operational efficiency, and, most critically, cultivating public-private partnerships (P3s). His track record is about moving goods, managing high-volume traffic, and negotiating long-term infrastructure leases. Bringing this skill set to a company that serves over 20 million guests annually suggests a strategic pivot. The focus may be shifting from the experience of the journey to the efficiency and necessity of the transit itself.

In his statement, Edwards noted he was eager to "build on this legacy, enhance operations, facilitate innovation, and deliver extraordinary service to our guests and communities." The key words here may be "enhance operations" and serving "communities." This language points toward a future where Hornblower’s vessels are seen less as leisure craft and more as integral components of urban transit systems, alleviating congestion and connecting communities in a way only water transit can.

The Private Equity Playbook

The appointment of Edwards is a classic move from the private equity playbook, particularly for a firm like SVP, which specializes in turning around companies in complex situations. Having stabilized Hornblower's balance sheet, SVP's next step is to unlock new value and drive growth. Rather than simply optimizing the existing tourism business, they are aiming to expand the company's entire addressable market.

David Geenberg, a key figure at SVP and a Hornblower board member, praised Edwards as being "well positioned to lead Hornblower as it continues to build upon its franchise as the leading water transportation infrastructure provider in North America." The emphasis on "infrastructure provider" is telling. SVP sees a future where Hornblower leverages its operational expertise and fleet to secure long-term, stable revenue streams from municipal and state governments—contracts that are far less susceptible to the discretionary spending patterns of the tourism market.

This strategy aligns perfectly with the current economic and political climate. With governments across North America looking to modernize aging infrastructure and find sustainable solutions for urban mobility, the demand for reliable private partners is soaring. Edwards is an expert in exactly this domain. His experience at VPA, where he renegotiated a key terminal lease and attracted significant industrial development, demonstrates an ability to navigate the complex interplay between public needs and private investment. Hornblower is now positioned to bid on contracts to develop new commuter ferry routes, manage municipal water transit systems, and integrate its services into broader public transportation networks.

Navigating the Next Wave of Water Transit

This strategic pivot comes at a time when water transportation is gaining renewed attention as a solution to modern urban challenges. As cities grapple with crippling traffic congestion and pressure to reduce carbon emissions, ferry services offer a compelling alternative. Hornblower is already a quiet leader in this space, with its existing NYC Ferry operations and pioneering work in green technology, including the nation's first hybrid and all-electric ferries.

Under Edwards, these initiatives are likely to be supercharged. His infrastructure background provides the credibility and know-how to scale these green transit solutions. Public-private partnerships could become the vehicle for financing fleets of new electric ferries, creating a win-win scenario where cities meet their climate goals and Hornblower secures long-term operational contracts. It transforms the company from a private tour operator into a key partner in public policy and urban planning.

By hiring an infrastructure expert like Stephen Edwards, Hornblower and its backers at SVP are making a bold declaration. They are betting that the future of the company lies not just in showing people the sights, but in getting them where they need to go. This move signals a transformation from a leader in experiences to a leader in essential services, aiming to become as fundamental to a city's daily life as its bridges and highways.