Silversea Cruises Joins the RCL Family
- Business & Finance
The ultra-luxury and expedition cruising company, Silversea Cruises, has officially joined the family of Royal Caribbean Cruises (RCL).
On July 31, the companies informed that they have closed on RCL’s acquisition of a two-thirds stake in Silversea after receiving final approval from regulators.
The investment unites two leading players in the cruise industry and fills out RCL’s portfolio of cruise brands across all key market segments.
“We are proud to officially welcome Silversea’s industry-leading team to the RCL family,” said Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises Ltd.
Regulators green-lighted Royal Caribbean’s purchase of a 66.7% equity stake in Silversea Cruises, based on an enterprise value of approximately USD 2 billion. Manfredi Lefebvre d’Ovidio will remain Executive Chairman of Silversea and retain a 33.3% stake.
The companies also announced Project Invictus, a multi-year initiative to take Silversea’s ultra-luxury offerings to the next level. Project Invictus enhancements range from product upgrades to magnified ship revitalization programs.
The first Invictus enhancements will begin rolling out on the Silver Muse on August 19. Immediately thereafter, these and other enhancements will be implemented fleet wide, impacting a wide variety of onboard features and strengthening Silversea’s reputation.
Silversea’s growing fleet of ultra-luxury ships will also benefit from an upgrade. The planned renovation of Silver Whisper in December 2018 will be much more comprehensive than initially anticipated. Moreover, Silversea’s Silver Wind will also enter into an enhanced dry dock in December 2018.
Both vessels will join the overarching plan for a fleet-wide “Musification” which will take inspiration from the design of the very successful cruise line’s flagship, Silver Muse. The plan will be completed shortly after with an enhanced dry dock of the Silver Shadow.
With Silversea joining the RCL lineup alongside Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, TUI Cruises and Pullmantur Cruceros, the Royal Caribbean Cruises Ltd. fleet now numbers 59 ships with an additional 15 on order.