Royal Caribbean Buys Silversea

Silver Muse

Royal Caribbean Cruises and Manfredi Lefebvre D’Ovidio, majority owner of Silversea Cruises, today announced an agreement for Royal Caribbean 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 an enterprise value of approximately $2 billion.

The purchase price of the equity being acquired is approximately $1 billion.  Royal plans to finance the purchase through debt, the company said.

In addition, Lefebvre will qualify for an estimated contingent consideration of approximately 472,000 Royal Caribbean shares, payable upon achievement of certain 2019-2020 performance metrics.

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

Fain added: “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 strategic rationale for the partnership includes: driving long-term capacity growth in the burgeoning luxury and expedition markets at a much larger scale than what Silversea would achieve independently; diversifying Royal Caribbean’s portfolio and increasing its expedition offerings by adding a premiere ultra-luxury brand; leveraging the global footprint of the combined companies to generate demand and increase vacation and destination options for the guests of both companies and realizing significant synergies related to global market access, supply chain, purchasing power and other economies of scale.

Lefebvre said he is confident that the significant investment stake he is retaining will sizably increase its value through the growth this long-term partnership will enable.

Lefebvre and Fain also confirmed that Silversea’s CEO Roberto Martinoli will continue in his role, working with the existing Silversea management team.

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Royal Caribbean Reveals China-Bound Spectrum of the Seas

Spectrum of the Seas

Royal Caribbean International has announced details of the China-bound Spectrum of the Seas.

It will be the first of the line’s ships to have a private suite area, as the Quantum-class ship will also get new features, dining concepts and more for its 4,246 guests. The ship debuts in Shanghai next June.

“When Quantum of the Seas made her debut in Shanghai three years ago, it changed the face of cruising in China. Fast forward to today, and we are revealing just how we’ll transform the cruise vacation market, yet again, with the debut of Spectrum of the Seas,” said Michael Bayley, President and CEO, Royal Caribbean International. “The introduction of our highly anticipated Quantum Ultra Class will represent a quantum leap forward in ship design and experiences specifically tailored to Chinese guests.”

SkyPad

Custom built for the Chinese market, the Spectrum of the Seas will feature new experiences, including the iconic Sky Pad, a virtual reality, bungee trampoline experience located on the aft of the ship. Guests will strap in and don their VR headset to transport them to another time and planet.

The first Quantum Ultra ship will debut Royal Caribbean’s first exclusive suites-only area, which will feature the exquisite Golden and Silver suite accommodations in a private enclave at the forward end of the ship on decks 13 through 16, the company said.

Vacationers booked in these luxury suites will have special keycard access, a private elevator and a dedicated restaurant and lounge. In addition to a range of exclusive amenities, guests will have access to The Balcony – a private outdoor space.

The ship will get a three-level main dining room with 1,844 seats to serve a variety of Chinese and Western a la carte options rotating each day of the sailing. For guests looking for a more casual venue, the Windjammer Marketplace – 20 per cent larger than those on Quantum Class ships – will offer a wide buffet selection of Chinese and Western dishes, including noodles, pizza, Japanese teppanyaki and mini hot pot.

Other speciality venues include Wonderland’s Dadong, a new outpost of Chinese chef Dong Zhenxiang, renowned for his much-coveted roast duck dish; Jamie’s Italian by British celebrity chef Jamie Oliver; Izumi Japanese cuisine; and Chops Grille will join the lineup as well. In addition, the new Leaf and Bean traditional tea room and café parlour will debut on the Royal Esplanade. The spot will offer a range of authentic Chinese teas, classic coffee drinks as well as freshly baked Chinese and Western desserts and pastries.

Also for the local market will be Star Moment, a lively and energetic karaoke, the company said.

The cruise line also will enhance SeaPlex – the largest indoor sports and entertainment complex at sea where families can enjoy bumper cars, roller skating and basketball – with new augmented reality walls and floors.

When Spectrum of the Seas debuts in April 2019, she will sail a 51-night transit voyage from Barcelona, Spain to Shanghai.

Meanwhile, the iconic and widely popular Quantum of the Seas will sail her farewell season from Shanghai before moving to Tianjin in summer 2019. The Voyager of the Seas is set to return to Hong Kong and Shenzhen for the summer and will sail a variety of itineraries calling on Vietnam, Japan and the Philippines.

Port of Civitavecchia opens new Terminal Amerigo Vespucci

Port of Civitavecchia opens new Terminal Amerigo Vespucci
The new Terminal Amerigo Vespucci is the first purpose-built, permanent cruise terminal in Civitavecchia (Image: Roma Cruise Terminal)

Port operator Roma Cruise Terminal (RCT) opened the first purpose-built permanent cruise terminal at Italy’s port of Civitavecchia on 18 May 2018.

Designed by Studio Vicini Architetti, the new €20 million (US$23 million) Terminal Amerigo Vespucci covers an area of 12,500 square metres, making it one of the largest in Europe. It was built during an 18-month project that started in November 2016 and involved almost 60 local companies.

Terminal Amerigo Vespucci will be able to handle large cruise ships and around 5,000-6,000 passengers. The ground floor of the terminal boasts an atrium and a 4,200 square metre luggage hall, while the first floor features a VIP area, a bar, a waiting area and 60 check-in desks. There is also space to increase the number of check-in points to 120 to accommodate any future growth in cruise traffic. In addition, there are offices for port staff and a small museum that will showcase historical artefacts from the local Lazio region.

Passengers will embark or disembark cruise ships from two passenger boarding bridges designed by ADELTE.

RCT is jointly owned by Costa Cruises, MSC Cruises and Royal Caribbean Cruises Ltd.