Marchioness was launched eight years after Hurlingham, from the yard of Salter Brothers in Oxford. She was 20 feet shorter and had slightly less freeboard, which caused difficulties in the 1970s when plans were made to increase her weight by enclosing the upper deck. It is suggested that either the weather was better before the war, or that those who traveled on the river to see and be seen preferred to enjoy the fresh air regardless of conditions. Marchioness was primarily an open boat, with only limited shelter provided by her awning and the enclosed lower deck.

Joe Mears was the owner of Marchioness from her launch in 1923 until 1945. During this period, she was powered by a steam engine, which was replaced by a diesel engine in 1950. In addition to her involvement at Dunkirk, Marchioness, along with Kingwood and Hurlingham, was part of the Thames Hospital Emergency Transport Service, a fleet of thirteen vessels formed at the outbreak of World War II. Only the largest river passenger vessels were selected for this service, indicating government concerns about mass casualties and street congestion, with river evacuation seen as a viable solution.

In 1946, Marchioness was acquired by Thames Launches, remaining with them for thirty-one years. Although some modifications were made to her layout, she retained her open top deck for another two decades. In 1978, she was briefly owned by Thames Party Boats before joining the Tidal Cruisers fleet in 1979. At this time, she was fully enclosed with decks on three levels. Her facilities included a bar, reception deck, saloon, and dance decks, accommodating 130 sightseers, 120 guests for a buffet, or 70 for dining.

Tragically, on 19 August 1989, Marchioness was booked for a birthday party. In the early hours of the following morning, she collided with a dredger, which ran over her, causing her to sink with significant loss of life.