Royal Caribbean & Silversea Join Forces

Royal Caribbean Cruises and Manfredi Lefebvre D’Ovidio announced an agreement for RCL to acquire a stake in privately-owned Silversea Cruises. Under the agreement, Royal Caribbean will acquire a 66.7% equity stake in Silversea Cruises based on a value of approximately $2 billion.

Silver Muse, Silversea’s newest ship. Photo courtesy Silversea

“Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth,” said Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises Ltd. “Uniting our two companies presents an extraordinary opportunity to expand vacation options for guests and create revenue in strategic growth areas. We are proud to welcome aboard Manfredi Lefebvre, a visionary leader whose high standards and history of innovation we deeply respect. Manfredi will remain Executive Chairman of Silversea, continuing to lead its strategy long term.”

“This partnership will bolster the growth of this exceptional brand founded by my father,” said Lefebvre. “I have always been kindred spirits with Richard and we share a vision of offering excellence and leadership to our guests. This new partnership gives Silversea the opportunity to accelerate the growth of the most successful luxury and expedition cruising brand in the world.”

The rationale for the partnership includes:

Silversea, with its intimate, all-suite ships, full spectrum of global cruise offerings sailing to more than 1000 global destinations, and unique luxury expedition vessels, adds a pioneering ultra-luxury brand to RCL’s industry-leading brand lineup. RCL’s largest brand, Royal Caribbean International, is focused on adventure-seeking families, Celebrity Cruises is a premium brand providing a modern luxury experience to travelers, and Azamara Club Cruises is a destination immersive brand offering luxury voyages to ports. The company also operates the regional TUI Cruises and Pullmantur brands as part of long-term joint ventures.

The closing is expected to be completed later in the year, subject to customary closing conditions and regulatory approvals.

The post Royal Caribbean & Silversea Join Forces appeared first on Avid Cruiser.

Article ID: ART3910


  
  
 
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