MIAMI, July 18, 2022 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) at present introduced it has obtained court docket approval to amass the ultra-luxury cruise ship Endeavor. Initially delivered to Crystal Cruises in 2021, the ship will probably be renamed Silver Endeavour when it formally joins the Group’s wholly owned subsidiary, Silversea Cruises’ fleet, this month.
The acquisition value for the vessel was $275 million, considerably under the price of building. The vessel was totally financed by a 15-year unsecured time period mortgage, assured by the German export credit score company, Euler Hermes, with no amortization funds within the first two years. The acquisition is anticipated to be instantly accretive to earnings, money circulate and ROIC.
“With Endeavour, we’re in search of to develop our world class fleet to fulfill the distinctive demand for ultra-luxury expedition cruising, whereas additionally enhancing our profitability profile and affirming Silversea’s place because the trade’s main ultra-luxury and expedition cruise line,” stated Jason Liberty, president and CEO, Royal Caribbean Group.
Constructed to PC6 polar class specs, the ship can function all of Silversea’s present expedition itineraries and is designed particularly to take vacationers to the world’s most distant locations, together with each polar areas.
“The expedition cruising trade is poised to renew accelerated progress pushed by demand amongst high-end, prosperous clients for journey to distant and hard-to-access locations,” stated Roberto Martinoli, president and CEO, Silversea Cruises. “This ship would be the fourth vessel to hitch Silversea’s fleet since 2020, which demonstrates our dedication to progress.”
Silver Endeavour affords the best requirements within the trade when it comes to space-per-guest ratio, and crew-to-guest ratio, in addition to top-notch lodging and public areas. The ship’s state-of-the-art expedition facilities supply friends a few of the most immersive and luxurious experiences obtainable, together with touring with a fleet of zodiac boats for distant exploration.
“Delivering one of the best holidays on the planet, responsibly, is Royal Caribbean Group’s goal,” Liberty stated. “Whereas our acquisition solely covers the bodily vessel, we wish all of our friends to know we go above and past to care for them.”
As a part of the continuing RCL Cares program, Royal Caribbean Group will defend the deposits of friends who had been initially booked on Crystal Endeavor and make a brand new reserving on one of many Group’s world manufacturers – Royal Caribbean Worldwide, Superstar Cruises and Silversea Cruises.
“We imagine these Crystal friends will obtain again their deposits, however we wish to give them added assurance,” Liberty added.
To the extent the Crystal Endeavor friends don’t obtain their deposits again from Crystal or different sources, the Royal Caribbean Group will refund any quantity paid on their new reserving as much as the quantity of their misplaced deposits from Crystal. Full phrases of the supply will probably be offered on every model’s web site quickly.
Silver Endeavour is scheduled to start service winter 2022/2023, spending its inaugural season in Antarctica beginning November 2022.
About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is likely one of the main cruise corporations on the planet with a world fleet of 63 ships touring to roughly 1,000 locations around the globe. Royal Caribbean Group is the proprietor and operator of three award-winning cruise manufacturers: Royal Caribbean Worldwide, Superstar Cruises, and Silversea Cruises, and it’s also a 50% proprietor of a three way partnership that operates TUI Cruises and Hapag-Lloyd Cruises. Collectively, the manufacturers have an extra 10 ships on order as of June 30, 2022. Study extra at www.royalcaribbeangroup.com or www.rclinvestor.com.
Sure statements on this press launch represent forward-looking statements beneath the Personal Securities Litigation Reform Act of 1995. These statements relate to, amongst different issues, the corporate’s expectations and projections concerning progress within the expedition cruising trade, buyer demand, and profitability. Ahead-looking statements replicate administration’s present expectations and are topic to dangers, uncertainties and different elements that might trigger our precise outcomes, efficiency or achievements to vary materially from the longer term outcomes, efficiency or achievements expressed or implied in these forward-looking statements. Elements that might have an effect on our outcomes embody, amongst others, these mentioned beneath the caption “Threat Elements” in our most up-to-date quarterly report on Type 10-Q, in addition to our different filings with the SEC, copies of which can be obtained by visiting our Investor Relations web site at www.rclinvestor.com or the SEC’s web site at www.sec.gov. Undue reliance shouldn’t be positioned on the forward-looking statements on this launch, that are primarily based on info obtainable to us on the date hereof. We undertake no obligation to publicly replace or revise any forward-looking statements, whether or not because of new info, future occasions or in any other case.
SOURCE Royal Caribbean Group