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 Coastal Florida Cities

1. St. Pete Beach

2. Miami

3. St. Augustine

4. Sarasota/Siesta Key

5. Key West

Source: Thrillist

TMR THIS WEEK
http://services.travelsavers.com/AMGService.svc/REST/GetImage?ImageID=790331bd-ff88-e811-853f-782bcb667b27

Artificial Intelligence is the Future the Jetsons Told Us About

Customer loyalty is the ultimate reward for travel agents who tap into artificial intelligence. While still early in its application to travel, many companies are quickly realizing the need to implement AI to improve their travel customer service and trip planning.

TMR Recommendations
Top Stories
Virgin Voyages Announces Name of Debut Ship
Virgin Voyages Announces Name of Debut Ship

The ship's Scarlet figurehead is dedicated to women and represents the company's efforts to encourage front-facing female leaders.

Tauck Expands its River Cruise Product with More Family Itineraries
Tauck Expands its River Cruise Product with More Family Itineraries

The tour operator capitalizes on the ease and affordability of exploring the heart of Europe by riverboat with children in tow.

Disney Cruise Line Reveals Highlights for Upcoming Holiday Sailings
Disney Cruise Line Reveals Highlights for Upcoming Holiday Sailings

The line’s ‘Very Merrytime Cruises’ will include traditional holiday fanfare, Christmas feasts, gingerbread house-making, and of course, visits with Santa Claus.

CLIA President and CEO Cindy D’Aoust to Step Down
CLIA President and CEO Cindy D’Aoust to Step Down

D'Aoust will remain through the end of the year and assist CLIA with the search and transition to new leadership.

Norwegian Cruise Line Releases Itineraries for 2019, 2020 Sailings
Norwegian Cruise Line Releases Itineraries for 2019, 2020 Sailings

The sailings include Alaskan itineraries for an upgraded Norwegian Joy, six ships in Europe, and some first-time calls for the cruise line.

Silversea Cruises to Sail First Northeast Passage Crossing in 2019
Silversea Cruises to Sail First Northeast Passage Crossing in 2019

Traveling in ultra-luxury, the epic journey will take guests across the top of Asia and Europe to discover extraordinary landscapes, unique cultures and rare animal species.

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