Royal Caribbean Cruises has announced an alignment with Silversea Cruises in a move that it says will deliver a bold, long-term vision for the cruise industry.
The deal, financed through debt, is worth $1bn and will see Royal Caribbean acquire 66.7% of Silversea.
Major priorities for the partnership include growing presence in the luxury and expedition markets at a greater scale, diversifying Royal Caribbean’s portfolio, expanding options for travellers and realising the benefits of supply chain synergies and economies of scale.
Richard D. Fain, Chairman and CEO of Royal Caribbean, commented: “Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth.
“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.”
Silversea is an ultra-luxury cruise provider, delivering its offering through all-suite ships to more than 1,000 global destinations.
Lefebvre added: “This partnership will bolster the growth of this exceptional brand founded by my father.
“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 closing of the deal is expected to be completed later in the year, subject to customary closing conditions and regulatory approvals.