Victory Cruise Lines is owned by cruise industry veteran John Waggoner, who personally acquired the Victory I and Victory II ships and relaunched the brand as an independent company in 2024.
This makes Victory Cruise Lines a privately held, founder led operation rather than a subsidiary of a larger cruise or private equity group.
Victory Cruise Lines is known for small ship, all inclusive coastal cruising on the Great Lakes and along the Canadian coastline, a niche largely untouched by mainstream ocean cruise lines.
Waggoner is a longtime cruise executive who previously led Delta Queen Voyages and originally founded the first version of Victory Cruise Lines years before the current relaunch.
What makes this relaunch notable is that Victory Cruise Lines rose directly from the ashes of American Queen Voyages, which shut down in 2024 after its private equity owner could not secure further funding.
This guide explains exactly who owns Victory Cruise Lines today, what happened to its previous parent company, who leads the relaunched brand, and what ships make up its current fleet.
It also covers where Victory Cruise Lines sails, what the brand is known for, and how it compares with other small ship American cruise operators.
Let’s take a closer look.
Table of Contents
What Is Victory Cruise Lines?
Victory Cruise Lines is a small ship, all inclusive coastal cruise brand operating on the Great Lakes and the Canadian coastline.
The brand was originally founded by John Waggoner, a veteran cruise executive with decades of experience in the American small ship cruise market.
The current version of the company relaunched in April 2025, following Waggoner’s 2024 acquisition of the Victory I and Victory II vessels.
The ships previously sailed under American Queen Voyages before that company ceased operations in February 2024.
Who Owns Victory Cruise Lines?
Victory Cruise Lines is privately owned by John Waggoner, who serves as founder and chairman of the relaunched company.
Waggoner co-founded the new venture with his wife, Claudette, after purchasing the Victory I and Victory II ships in May 2024.
The company is not a subsidiary of a larger cruise corporation or private equity firm, distinguishing it from its immediate predecessor, American Queen Voyages.
Anglo Eastern Leisure Management, led by Dietmar Wertanzl, handles hotel operations, provisioning, crewing, and logistics for the ships under a partnership arrangement.
Founders and private owners
Operating cruise brand
Hotel and logistics operating partner
Is Victory Cruise Lines Publicly Traded or Privately Owned?
Victory Cruise Lines is privately owned and does not trade on any public stock exchange.
Ownership rests directly with founder John Waggoner rather than with institutional investors or a private equity fund.
This private, founder controlled structure differs from the private equity ownership that ultimately led to the shutdown of the brand’s immediate predecessor.
What Happened to American Queen Voyages?
American Queen Voyages, the previous operator of the Victory I and Victory II ships, ceased operations on February 20, 2024.
The company was owned by Hornblower Group, which was controlled by private equity firm Crestview Partners.
American Queen Voyages cited an inability to secure sufficient capital at a reasonable rate to continue operating, leaving its fleet, including the two coastal ships, laid up.
John Waggoner acquired the Victory I and Victory II vessels from that closure in May 2024, setting up the current relaunch of Victory Cruise Lines.
Who Founded Victory Cruise Lines?
Victory Cruise Lines was originally founded by John Waggoner, who previously led Delta Queen Voyages earlier in his career.
The original Victory Cruise Lines vessels were later acquired by American Queen Steamboat Company in 2019, which eventually became American Queen Voyages.
After that company’s 2024 collapse, Waggoner returned to reclaim the Victory brand and its two ships, launching the current independent company.
Victory Cruise Lines Fleet
Victory Cruise Lines operates two ships, Victory I and Victory II, each carrying approximately 190 guests.
Both vessels are small, all inclusive coastal ships designed for close in itineraries along the Great Lakes and Canadian coastline rather than open ocean voyages.
Where Does Victory Cruise Lines Sail?
Victory Cruise Lines sails primarily on the Great Lakes and the Canadian coast, with ports including Chicago, Milwaukee, Toronto, and Montreal.
The brand relaunched with a 10 night New England and Canada itinerary departing from Portland, Maine in April 2025.
Its route network focuses on scenic, close to shore sailing rather than long transoceanic itineraries.
What Is Victory Cruise Lines Known For?
Victory Cruise Lines is known for all inclusive, small ship coastal cruising in a region largely overlooked by major ocean cruise brands.
The brand emphasizes intimate ship sizes, personalized service, and destination immersive itineraries along the Great Lakes and Canadian coast.
Its relaunch drew significant interest from cruise fans who had followed the ships under both their original Victory branding and their later American Queen Voyages ownership.
Is Victory Cruise Lines Really Good or Really Worth It?
Victory Cruise Lines is a newly relaunched brand, so most current traveler feedback reflects the earlier iterations of the ships under previous ownership.
Guests have generally praised the intimate ship size, all inclusive pricing, and unique Great Lakes itinerary options that few competitors offer.
Because the company only relaunched in April 2025, prospective travelers should confirm current offerings and reviews directly given the brand’s short operating history under new ownership.
- All inclusive pricing on small ship itineraries
- Unique access to Great Lakes and Canadian coast routes
- Experienced, founder led leadership team
- Very short operating history under the current ownership
- Only two ships, limiting sailing dates and availability
- Seasonal Great Lakes routes with a limited sailing calendar
Customer Service and Official Contact Information
Travelers can review itineraries, request quotes, and reach guest services through the official VictoryCruiseLines.com website.
Details on the 2024 American Queen Voyages shutdown were reported by Seatrade Cruise News.
Background on the relaunch is documented by Travel Agent Central.
Victory Cruise Lines is privately owned by founder John Waggoner, who acquired its two ships after American Queen Voyages ceased operations in 2024 and relaunched the brand independently in 2025.
For background on the ships’ previous operator and other small ship American brands, see WhoMakeThis’s guide to who owns American Queen Voyages and the related breakdown of who owns UnCruise Adventures.
Frequently Asked Questions About Victory Cruise Lines
Who owns Victory Cruise Lines?
Victory Cruise Lines is privately owned by founder John Waggoner, who acquired the Victory I and Victory II ships in May 2024 and relaunched the brand independently.
Is Victory Cruise Lines connected to American Queen Voyages?
Yes, the Victory I and Victory II ships previously sailed under American Queen Voyages before that company ceased operations in February 2024, after which Waggoner acquired them.
How many ships does Victory Cruise Lines have?
Victory Cruise Lines operates two ships, Victory I and Victory II, each carrying approximately 190 guests on Great Lakes and Canadian coast itineraries.
When did Victory Cruise Lines relaunch?
Victory Cruise Lines relaunched in April 2025 with a 10 night New England and Canada voyage departing from Portland, Maine.
I am Jack Neel, a mechanical engineer, researcher, and writer. I created this website to share my knowledge about different brands and products with you. I research the manufacturers behind the brands and provide you with the information you need to make smart buying decisions.