Royal brings luxury Silversea aboard

ROYAL Caribbean Cruises (RCL) has purchased a 66.7% stake in the luxury line Silversea Cruises ( CW breaking news 15 Jun), considerably bolstering its luxury and expedition credentials.

The agreement between the two companies was announced on 14 Jun, with RCL paying US$1 billion for its stake in Silversea.

The move introduces ultraluxury cruising into RCL’s portfolio which includes Royal Caribbean, Celebrity and Azamara, plus shareholdings in Tui Cruises and SkySea Cruises.

“Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth,” said RCL chairman & ceo Richard D. Fain.

“Uniting our two companies presents an extraordinary opportunity to expand vacation options for pax & create revenue in strategic growth areas.”

Silversea’s Manfredi Lefebvre D’Ovidio will remain executive chairman after the deal closes and chief executive Roberto Martinoli will also stay on.

“This new partnership gives Silversea the opportunity to accelerate the growth of the most successful luxury and expedition cruising brand in the world,” Lefebvre said.

The strategic rationale for the partnership includes: driving long-term capacity growth in the burgeoning luxury and expedition segments at a much larger scale than Silversea would achieve independently.

Pictured: Silversea’s Manfredi Lefebvre D’Ovidio and RCL’s ceo Richard D. Fain agree to terms.