Ibero Cruises (Spanish: Ibero Cruceros) is a British-American and Spanish owned cruise line based in Madrid, Spain. The company was founded in 2007 as a joint subsidiary of Carnival Corporation & plc and Orizonia Corporation, under the executive control of Costa Cruises Group, Carnival Corporation's European division. The cruise line is aimed at the Spanish and Portuguese speaking market. Ibero Cruises started operation with three ships: Grand Mistral and Grand Voyager, were provided by Orizonia from its Iberojet fleet, and the third, Grand Celebration, was provided by Carnival Corporation from its Carnival Cruises fleet. A fourth ship, the Grand Holiday, has since been transferred to Ibero from the Carnival fleet.