Royal Caribbean Cruises Acquires Major Stake in Silversea

by Daniel McCarthy
Royal Caribbean Cruises Acquires Major Stake in Silversea

Royal said its purchase of Silversea Cruises for approximately $1 billion will give it “a crown jewel” in the luxury and expedition markets. Photo: StudioPortoSabbia / Shutterstock.com.


Royal Caribbean Cruises Ltd. announced today that it had purchased a two-thirds (66.7 percent) stake in luxury and expedition cruise line Silversea Cruises for approximately $1 billion.

The deal, which is expected to be closed later in the year, gives Royal Caribbean Cruises Ltd. another avenue to take advantage of the growth in the luxury and expedition cruise markets, according to the company’s chairman and CEO Richard D. Fain. It also gives Silversea RCCL's international resources, including savings in its operations costs.

Silversea bought by Royal Caribbean 1 billion big deal acquisition cruises Richard Fain
Manfredi (left) and Fain.

“Silversea has a long track record as the leader in high-end, small-ship ultra-luxury and expedition cruising, and our stake in this company enhances our current offerings and creates additional value for our shareholders. We are pleased to welcome the world-class team at Silversea and look forward to leveraging the talents of both teams to contribute to our continued successes,” he said in a statement.

Fain also called Silversea “a crown jewel” in the luxury and expedition markets and a line that fills the gaps in Royal Caribbean Cruises' portfolio.

"We believe that adding a luxury ultra and expedition brand to our portfolio not only complements our current portfolio, but presents an opportunity for growth and innovation," he said on a call announcing the acquisition on Thursday. "It’s more important than ever we have offerings suited for every type of traveler...Silversea serves the purpose of making our portfolio brands complete and well rounded."

For travel agents, Fain said that the deal gives them the opportunity to sell another Royal brand that wasn't previously offered.

"We have a particular strong relationship with our travel agent partners," he said. "We recognize that they have been critical to our success over the years." He said he expects the agent channel "will raise awareness of our latest brand."

Silversea’s executive chairman Manfredi Lefebvre said in a statement accompanying the announcement that RCCL’s take in Silversea will allow the line “to grow at an unprecedented pace and will allow us to capture the burgeoning demand for ultra-luxury and expedition cruising.” Manfredi said teams will be put together in the future to help the transition to RCCL.

"Only Richard and only Royal share our passion for experiential travel and our desire for excellence," he added during Thursday's call.

With the deal Silversea joins Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and more under the Royal Caribbean Cruises Ltd. umbrella.

  1
  1
Tip of the Day
Daily Top List

Best New York Pizzerias According to Reviews

1. SottoCasa Pizzeria

2. Song’ e Napule Pizzeria

3. Juliana’s Pizza

4. Numero 28 Pizzeria

5. San Matteo Pizza Espresso Bar

Source: TripAdvisor

TMR THIS WEEK
http://services.travelsavers.com/AMGService.svc/REST/GetImage?ImageID=dab35eef-ff9e-e811-853f-782bcb667b27

FOMO Strikes Again! Yep, They Booked It Without You

Should you resist the temptation to unfriend or confront them? Hear the advice of agents who have been there and know how best to handle these unfortunate, but all-too-common scenarios.

TMR Recommendations
Top Stories
Peregrine Adventures Talks Galapagos as First New Build Starts Sailing
Peregrine Adventures Talks Galapagos as First New Build Starts Sailing

The Grand Queen Beatriz sails with just 16 guests and 8 crew members, offering travelers a boutique expedition cruising experience that is also environmentally sustainable.

Oceania Cruises Announces Fleet Renovation Program, OceaniaNEXT
Oceania Cruises Announces Fleet Renovation Program, OceaniaNEXT

The first phase of the upgrade will kick off with a $100 million enhancement to its Regatta-class ships.

Norwegian Cruise Lines Zeroes in on Alaska with Joy Move
Norwegian Cruise Lines Zeroes in on Alaska with Joy Move

Alaska, along with the Mediterranean and the Baltic, are all ‘performing extremely well,’ according to the line’s President and CEO Frank Del Rio.

Seabourn Cruise Line Gets Approval to Sail to Cuba
Seabourn Cruise Line Gets Approval to Sail to Cuba

The line joins Holland America Line and Carnival Cruise Line as the third Carnival Corp. brand approved to call on Cuba.

Pearl Seas Cruises Releases Cuba Sailing Schedule for 2019
Pearl Seas Cruises Releases Cuba Sailing Schedule for 2019

The cruise line also announced the list of its travel agent webinars for the rest of 2018.

Holland America Line Updates Trade Training Course and Agent Benefits
Holland America Line Updates Trade Training Course and Agent Benefits

Northern Europe specialist course is added to the HAL Academy line-up of educational offerings to help travel agents increase sales.

News Briefs
TMR Report Cards
Advertiser's Voice
Advertiser's Voice: Norwegian Cruise Line