Terry MacRae began Hornblower Cruises & Events in 1980 as a two-boat operation on San Francisco Bay. Since then he and his wife, Mary, have built Hornblower into a 50-boat, $120 million company with 1,000 employees that serves about six million guests each year. Emphasizing customer service, safety, and teamwork, the firm has emerged as the market leader in each of the seven California ports it serves. Hornblower guests are treated to stunning nautical venues and exquisite cuisine for weddings, birthdays, anniversaries, and other major celebrations.
As a result of Hornblower's success in the hospitality and maritime industries, the MacRaes decided to make competitive bids for National Park Service concessions serving the popular icons Alcatraz on San Francisco Bay and Statue of Liberty National Monument and Ellis Island Immigration Museum in New York Harbor. Alcatraz Cruises commenced service in September of 2006, and Statue Cruises commenced operations in January of 2008. These concessions have contributed to the growth and stability of the company.
In 2008 Alcatraz Cruises launched the nation's first hybrid ferry-a 149-passenger vessel powered by a combination of wind turbines, solar panels, and an efficient diesel electric drive. Hornblower is completing the design and approval for a new hydrogen powered hybrid vessel for use in New York Harbor.
Terry is a recognized expert in the design, renovation, construction, and operation of passenger vessels, and in the marine, fine dining, entertainment, and tourism industries. He holds a BS degree in mechanical/environmental engineering from the California State Polytechnic University at San Luis Obispo. Mary holds a BS degree from the Cornell University School of Hotel Administration.
You have to be really persistent and willing to wait to find the right type of opportunity. You also have to be willing to sell stuff when it's the right time, so both acquisitions and divestitures are really part of what you have to learn to do as an entrepreneur. And I really simplify it by sayin...(Full transcript available to logged in subscribers.).
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