Douro Azul

In 1993, Mário Ferreira started a river cruise company, Douro Azul, with just a single boat on the Douro River in Portugal. The company, initially named Ferreira & Rayford, LDA, began operations with the vessel 'View Douro' before rebranding to Douro Azul in 1996 and adding more ships to its fleet. Seeing the untapped potential of the Douro Valley, Ferreira focused on creating high-quality tourism experiences, which spurred economic growth in the region. A key part of the playbook was vertical integration. By 2011, Douro Azul was not only the primary cruise operator on the river but also began designing and building ships for other major companies like Viking River Cruises and AmaWaterways, who were expanding into Portugal. This move solidified its central role in the industry. The company grew, with founders Mário Ferreira and Sergio Pereira buying back a stake from an investor in 2008. The company is now part of the larger holding group, Mystic Invest, which Ferreira also chairs. In a significant strategic move, Mystic Invest received an investment from Certares, a global travel and tourism investment firm, in 2019. This partnership was designed to support growth and expansion into the expedition cruising market, with the Ferreira family maintaining majority control. Today, Douro Azul is a market leader, operating an extensive fleet of hotel-ships and attracting tourists from around the world.