Virgin Voyages, formerly Virgin Cruises is a cruise line with an office in Plantation, Florida, USA. It was formed in a joint venture between the Virgin Group and Bain Capital; the latter have a majority shareholding. Virgin Group announced the establishment of Virgin Cruises on December 4, 2014; it is scheduled to begin operations in 2020. Virgin Cruises' inaugural President and CEO is Tom McAlpin, a founding member of the launch team for Disney Cruise Line and later its president. Prior to being appointed to head Virgin Cruises, McAlpin had most recently served as CEO of The World, a residential cruise ship. On June 23, 2015, Virgin Cruises announced that it had signed a binding letter of Intent with Italian shipbuilder Fincantieri for the construction of three cruise ships to be delivered in 2020, 2021 and 2022. The ships will be mid-sized vessels of 110,000 GT each with 1,150 crew, and 1,430 guest cabins capable of hosting a total of more than 2,800 passengers.