Azamara cruise line sold

[Steve Q]

Evidently Azamara is being sold by RCL

 

https://www.marketwatch.com/story/royal-caribbean-to-sell-azamara-line-for-201m-2021-01-19?mod=mw_latestnews

[ChucktownSteve]

I just saw that as a trailer on CNBC.  What does private-equity firm Sycamore Partners know about cruising and what the customers want?  Equity firms only want one thing. Profits at any cost.  There goes Azamara.

 

I wonder how many of the great staff will jump ship, literally?  When I worked in radio, a NY financier bought the station. I immediately gave my notice as the top biller. He thought making money was easy without knowing how to do it.  Sure enough within two years they had to sell the station at a loss.

 

I fear for the quality of Azamara going forward.

 

This information clinches my decision to cancel our June AZ cruise.  I'm wondering if I should take the cancellation penalty for our December cruise as well.  No wonder AZ wouldn't issue a FCC for the penalty amount.

Edited January 19, 2021 by ChucktownSteve

[Fatfish]

Sad Day    😡😡

[tfred]

well that didn't work out.  

 

the question is who can they sell it to after Sycamore is "done".  They aren't there for the long term.  

[tgg]

Here's the link to the PR Newswire release:

 

https://www.prnewswire.com/news-releases/royal-caribbean-group-enters-definitive-agreement-to-sell-its-azamara-brand-to-sycamore-partners-301210817.html

[ChucktownSteve]

10 minutes ago, tgg said:

Here's the link to the PR Newswire release:

 

https://www.prnewswire.com/news-releases/royal-caribbean-group-enters-definitive-agreement-to-sell-its-azamara-brand-to-sycamore-partners-301210817.html

 

Key takeaway: Sycamore Partners specializes to "improve the operating profitability and strategic value of their business."

 

Cost cutting and higher prices?  Now I'm even more glad we booked two Regent cruises for next year.

Edited January 19, 2021 by ChucktownSteve

[sheeng]

So sad. 😰😰😰

 

[I-Cruiser]

This is very sad news.

[tgg]

I wonder how future cruise credits are handled.  Are they simply liabilities on the books?

Edited January 19, 2021 by tgg

[chromered7]

This is not surprising  and other cruise lines must be in trouble as the  sail dates are pushed further in  2021.

[norn iron]

Not the news I wanted to hear ☹️

[travelberlin]

Time will tell...we will have to wait and see

Ivi

[uktog]

Could be positive - they will not be competing in a large parent company and may even get new ships

[VACruiser123]

Went to the Sycamore Partners website...not encouraging for Azamara. Sycamore has left a trail of ruined businesses and uhappy creditors in the businesses they have "exited"...up to and including trying to force liquidation of assets of Aeropostale. They look like a "rip and strip" gang to me....maybe it will be different here.

[Belfastman]

Not unexpected even if it is sad. Could have been seen when Larry left.

[Skicruiser55]

Not happy - they are the equity group that bought Staples (office supplies). Not at all excited about sailing with a company that has no cruise experience.  TOTALLY BUMMED.  At least we only stand to lose a total of $300 in admin fees.  

[excitedofharpenden]

6 minutes ago, travelberlin said:

Time will tell...we will have to wait and see

Ivi

I agree. Just have to wait. I'm very sad to hear this news and am thinking about all the great crew. I hope it all works out for them and that positives can come out of this for all of us. 

 

Phil 

[Azamarian]

Very interesting... we who know and love the “team” will just have to game it out for a while.  If Carl, Johannes, Heike and Eric stay..what the heck.  I’m in for 40 cruises, so obviously I’m staying for a good 👀 look at how it goes.  I don’t want to change my name after all.  😎

[twangster]

As noted in other threads Azamara was the only brand Royal hasn't been investing into so this doesn't come as a surprise.  All other RCG brands have orders in for new ships and have new builds in process or took new ship handovers during the pandemic.  I suspect RCG has been shopping Azamara for some time and the pandemic only delayed this announcement.    

[Grandma Cruising]

I agree that we’ll just have to wait and see. I’m trying to be positive and hope that things don’t change. As Azamarian says it will be key to see what happens to all the officers and crew we all know and love. If they stay things may not change too much.

[Belfastman]

It will be interesting to see how many staff Philip takes with him to his new ship.

[welwyngirl]

Totally gutted.  Such a shame.  HAL here we come!

 

[upwarduk]

Johannes ‘thinks it’s good news, exciting times ahead,’ according to his FB account.

 

 

Edited January 19, 2021 by upwarduk

[ChucktownSteve]

2 minutes ago, upwarduk said:

Johannes thinks it’s good news, exciting times ahead, according to his FB account.

 

Without saying what the exciting times are, I wonder if he's being a good soldier who wants to keep his position until someone offers him something better.

[uktog]

Whats to say Larry does not re emerge as an advisor to the new owners in a board level appointment.....