Rare Keith1010 Posted June 14, 2018 #1 Share Posted June 14, 2018 FYI. Keith http://www.seatrade-cruise.com/news/news-headlines/royal-caribbean-is-buying-majority-stake-in-silversea-for-1bn.html?utm_content=Royal%20Caribbean%20is%20buying%20majority%20stake%20in%20Silversea%20for%20%241bn&utm_source=Email&utm_medium=Seatrade%20Cruise%20News&utm_contact=19283329&utm_term=Newsletter_Seatrade%20Cruise%20Breaking%20News&utm_campaign=136717 Link to comment Share on other sites More sharing options...
Rare mysty Posted June 14, 2018 #2 Share Posted June 14, 2018 Uh Oh! Link to comment Share on other sites More sharing options...
Isklaar Posted June 14, 2018 #3 Share Posted June 14, 2018 Thanks for this Keith. I find myself surprised, although unsure why. Link to comment Share on other sites More sharing options...
Rare Silver Spectre Posted June 14, 2018 #4 Share Posted June 14, 2018 Interesting, but not surprising. I doubt we will see any difference for quite some time. Seabourn sits quite happily under Carnivore. Sent from my iPad using Forums Link to comment Share on other sites More sharing options...
turtlemichael Posted June 14, 2018 #5 Share Posted June 14, 2018 Wow! "Majority stake" is such an inoffensive term. :) It is effectively a takeover at 66.7%. Seabourn has operated fairly well under control by outsiders so I hope SS can. There don't appear to be many changes initially but we'll see what happens down the track. Are there any regulatory bodies which may have a say in whether this proceeds? Link to comment Share on other sites More sharing options...
Rare Silver Spectre Posted June 14, 2018 #6 Share Posted June 14, 2018 Are there any regulatory bodies which may have a say in whether this proceeds? I can’t see why, SS is a minnow compared to the two behemoths, and it’s a private company. Sent from my iPad using Forums Link to comment Share on other sites More sharing options...
Rare Keith1010 Posted June 14, 2018 Author #7 Share Posted June 14, 2018 Yes it will require regulatory approval and that is noted in other reports and the deal is expected to close by years end. RCI is not a private company. I doubt it would be a problem given Seabourn's track record including purchasing Princess after RCI actually made the first attempt to purchase Princess. Keith Link to comment Share on other sites More sharing options...
DCCruiser57 Posted June 14, 2018 #8 Share Posted June 14, 2018 Interesting, but not surprising. I doubt we will see any difference for quite some time. Seabourn sits quite happily under Carnivore. Sent from my iPad using Forums With 500 days on Seabourn, we have seen a steady degradation of service and quality as Seabourn's rapid expansion (600 guests to nearly 2,600) and being subject to "publicly traded" corporation rules vis-a-vis being a privately held company has not been so good IMO. Once the corporate bean counters get involved ..... Link to comment Share on other sites More sharing options...
les37b Posted June 14, 2018 #9 Share Posted June 14, 2018 Just seen the feed on my phone for this. Something worthy of discussing as it unfolds. I await the SS announcement Link to comment Share on other sites More sharing options...
Rare Keith1010 Posted June 14, 2018 Author #10 Share Posted June 14, 2018 With 500 days on Seabourn, we have seen a steady degradation of service and quality as Seabourn's rapid expansion (600 guests to nearly 2,600) and being subject to "publicly traded" corporation rules vis-a-vis being a privately held company has not been so good IMO. Once the corporate bean counters get involved ..... Please keep in mind two items. Take just about any cruise line that has been around 10 or more years and those who have sailed it regularly will say that the cruise line is not like it was. I am speculating but if Seabourn was not purchased it likely would have gone bankrupt. Even though it was purchased it was not until they brought it under the HAL umbrella and consolidated its land based functions under one roof that it began to make money. Like most things everyone can speculate on all of this but we won't know for sure for several years. What I will predict if there was some type of cutback it will be blamed on RCI buying a majority stake even though it might have happened anyway. That is human nature. Keith Link to comment Share on other sites More sharing options...
turtlemichael Posted June 14, 2018 #11 Share Posted June 14, 2018 We live in interesting times. Link to comment Share on other sites More sharing options...
les37b Posted June 14, 2018 #12 Share Posted June 14, 2018 I am speculating but if Seabourn was not purchased it likely would have gone bankrupt. Even though it was purchased it was not until they brought it under the HAL umbrella and consolidated its land based functions under one roof that it began to make money. It does make you wonder if the current expansion (new ships, stretching and converting) has taken its toll or just a bullish bid at the right time. As you say, time will tell. Link to comment Share on other sites More sharing options...
DCCruiser57 Posted June 14, 2018 #13 Share Posted June 14, 2018 "I doubt it would be a problem given Seabourn's track record including purchasing Princess after RCI actually made the first attempt to purchase Princess." Don't think Seabourn purchased Princess - didn't Carnival buy Princess? Link to comment Share on other sites More sharing options...
SeekingShelter Posted June 14, 2018 #14 Share Posted June 14, 2018 I wonder what the “performance metrics” for 2019/2020 are that need to be met in order for Manfredi to get his RCI shares? I previously worked for a private company which was taken over by a public one and the performance metrics were “increased sales combined with lower overhead”. (Higher ROI) The first department gutted was customer service, followed by a rapid exit of all senior (read “high salaried”) personnel which left a big knowledge vacuum that was not easily filled by younger, lower paid replacement personnel. That was my experience. They definitely made more money, but the soul of the company was lost. SS’s experience may be different. I certainly hope so! On the other hand, I know RCI has many loyal customers, and the possible expansion of SS into their brand loyalty/rewards program will probably be a natural progression for some. It will be interesting to watch. Sent from my iPad using Forums Link to comment Share on other sites More sharing options...
Rare Keith1010 Posted June 14, 2018 Author #15 Share Posted June 14, 2018 "I doubt it would be a problem given Seabourn's track record including purchasing Princess after RCI actually made the first attempt to purchase Princess."Don't think Seabourn purchased Princess - didn't Carnival buy Princess? Yes, meant to say given that Carnival (just had Seabourn on my brain which of course Carnival owns) purchased Princess even after RCI first made an offer for it. Keith Link to comment Share on other sites More sharing options...
Rare Silver Spectre Posted June 14, 2018 #16 Share Posted June 14, 2018 The press release is now on the SS site and it appears to be an (almost) exact copy of the one that Keith spotted and kindly reported above. Sent from my iPad using Forums Link to comment Share on other sites More sharing options...
Stumblefoot Posted June 14, 2018 #17 Share Posted June 14, 2018 Well, this should make for an interesting voyage this week. Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Tarwood3 Posted June 14, 2018 #18 Share Posted June 14, 2018 Definitely surprising..dont why I feel so shocked by it considering RCCL, Carnival and NCL pretty much own everything. Wonder if Azamara and Silversea will just be combined over time? Link to comment Share on other sites More sharing options...
DCCruiser57 Posted June 14, 2018 #19 Share Posted June 14, 2018 I doubt that Azamara and SS will be combined. Although the loyalty programs for all 3 brands (RCI, Celebrity, & Azamara) have some interchangeability, they are also very separate and distinct to the specific brand. SS has some of the best loyalty benefits. Hoping for no change. Link to comment Share on other sites More sharing options...
Rare Keith1010 Posted June 14, 2018 Author #20 Share Posted June 14, 2018 Time will tell but Azamara has a strong following as a premium line so would think (speculate) they would keep it separate. Keith Link to comment Share on other sites More sharing options...
Tarwood3 Posted June 14, 2018 #21 Share Posted June 14, 2018 I doubt that Azamara and SS will be combined. Although the loyalty programs for all 3 brands (RCI, Celebrity, & Azamara) have some interchangeability, they are also very separate and distinct to the specific brand. SS has some of the best loyalty benefits. Hoping for no change. Out of curiosity, why dont you think so? Azamara only has 3 ships, older R Class ships (which I actually love) and none on order to build. Silversea still has at least 2 more ships on order and possibly a new expedition ship... Link to comment Share on other sites More sharing options...
Tarwood3 Posted June 14, 2018 #22 Share Posted June 14, 2018 If you go to @AzamaraJourney on Twitter, you will see Azamara is already promoting their relationship with Silversea....I think time will prove me right...Silversea will takeover Azamara.... Link to comment Share on other sites More sharing options...
Observer Posted June 14, 2018 #23 Share Posted June 14, 2018 SS has some of the best loyalty benefits. Hoping for no change. So true about the wonderful Venetian Society benefits. I hope they are retained. Or, if not, that guests are grandfathered at current levels. Link to comment Share on other sites More sharing options...
Rare Azulann Posted June 14, 2018 #24 Share Posted June 14, 2018 So true about the wonderful Venetian Society benefits. I hope they are retained. Or, if not, that guests are grandfathered at current levels. Over on the Celebrity forum, posters are wondering if their Captain Club levels with various perks will work on Silversea bookings? Intersting times in the cruise world for the big corporations. Link to comment Share on other sites More sharing options...
Rare spinnaker2 Posted June 14, 2018 #25 Share Posted June 14, 2018 Just got the announcement from Manfredi... Sent from my iPad using Tapatalk Pro Link to comment Share on other sites More sharing options...
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