Royal Caribbean Group has bought Crystal Endeavor, a luxurious expedition cruise ship that entered service with Crystal Cruises in 2021.
The expedition cruise ship will probably be renamed Silver Endeavour and enter Silversea Cruises’ fleet later this 12 months.
The acquisition worth for the vessel was $275 million, considerably beneath the price of building. The vessel was absolutely financed by way of 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 move 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 business’s main ultra-luxury and expedition cruise line,” stated Jason Liberty, president and CEO, Royal Caribbean Group.
Constructed to PC6 polar class specs, the expedition cruise ship can function all of cruise line’s present expedition itineraries and is designed particularly to take vacationers to the world’s most distant locations, together with each polar areas.
Silver Endeavour provides the best requirements within the business by way of 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 company a number of the most immersive and luxurious experiences out there, together with touring with a fleet of zodiac boats for distant exploration.
As a part of the continued RCL Cares program, Royal Caribbean Group will defend the deposits of company who have been initially booked on Crystal Endeavor and make a brand new reserving on one of many Group’s international manufacturers – Royal Caribbean Worldwide, Movie star Cruises and Silversea Cruises.
To the extent the Crystal Endeavor company 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 supplied 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.