not-enough-cruising Posted January 19, 2021 #1 Share Posted January 19, 2021 https://www.prnewswire.com/news-releases/royal-caribbean-group-enters-definitive-agreement-to-sell-its-azamara-brand-to-sycamore-partners-834540224.html Well, that’s one way to raise a little capital! Link to comment Share on other sites More sharing options...
Rare orville99 Posted January 19, 2021 #2 Share Posted January 19, 2021 7 minutes ago, not-enough-cruising said: https://www.prnewswire.com/news-releases/royal-caribbean-group-enters-definitive-agreement-to-sell-its-azamara-brand-to-sycamore-partners-834540224.html Well, that’s one way to raise a little capital! Given that the sale is for ~$200 Million, and RCG will be taking a $170 Million impairment charge on its books, not exactly a capital generator - more like a cash-bleeding interrupter. Link to comment Share on other sites More sharing options...
Biker19 Posted January 19, 2021 #3 Share Posted January 19, 2021 With RCG's acquisition of SilverSea, this was not unexpected. 3 Link to comment Share on other sites More sharing options...
sandebeach Posted January 19, 2021 #4 Share Posted January 19, 2021 Wow, I had heard this as a rumor last month on a cruise fans FB group but did not realize it was an actual happening. Link to comment Share on other sites More sharing options...
Mrs.Dukes Posted January 19, 2021 #5 Share Posted January 19, 2021 I’m sorry to read this. We sailed most recently on Azamara, and really liked it. We enjoyed reciprocal status from Royal Caribbean, which was great. Link to comment Share on other sites More sharing options...
suzyluvs2cruise Posted January 19, 2021 #6 Share Posted January 19, 2021 (edited) Sad to hear but not surprised. We enjoyed our Azamara sailings with their small ship feeling and great itineraries. Edited January 19, 2021 by suzyluvs2cruise Link to comment Share on other sites More sharing options...
Rare John&LaLa Posted January 19, 2021 #7 Share Posted January 19, 2021 45 minutes ago, Biker19 said: With RCG's acquisition of SilverSea, this was not unexpected. Isn't SilverSea fleet considerably newer Link to comment Share on other sites More sharing options...
Rare twangster Posted January 19, 2021 #8 Share Posted January 19, 2021 3 minutes ago, John&LaLa said: Isn't SilverSea fleet considerably newer And growing. New builds in process, new class of ship on the horizon. 1 Link to comment Share on other sites More sharing options...
Biker19 Posted January 19, 2021 #9 Share Posted January 19, 2021 5 minutes ago, John&LaLa said: Isn't SilverSea fleet considerably newer 10 ships vs. 3 for Azmara and most are newer. 1 1 Link to comment Share on other sites More sharing options...
Rare Ethanol95 Posted January 19, 2021 #10 Share Posted January 19, 2021 Would it be safe to assume that sailing on Silversea from now onwards would allow your royal status to be carried over? 1 Link to comment Share on other sites More sharing options...
Blue Eyed Belfast Belle Posted January 19, 2021 #11 Share Posted January 19, 2021 My friend has Azamara a FCC and is panicking as to whether it will be able to be used on other lines in RCG (Silver Seas, Royal or Celebrity) Link to comment Share on other sites More sharing options...
Iamcruzin Posted January 19, 2021 #12 Share Posted January 19, 2021 30 minutes ago, Ethanol95 said: Would it be safe to assume that sailing on Silversea from now onwards would allow your royal status to be carried over? You know what they say when you assume. You make an ass U me. 1 Link to comment Share on other sites More sharing options...
soloadventurer Posted January 19, 2021 #13 Share Posted January 19, 2021 I wonder what will be next in the Yard Sale. Everything must go 50% off Link to comment Share on other sites More sharing options...
suzyluvs2cruise Posted January 19, 2021 #14 Share Posted January 19, 2021 Email from Azamara COO I am pleased to share that Azamara has entered into a definitive agreement to become part of Sycamore Partners, a premier private equity firm, that will play an important role in driving our brand forward and expanding our Destination Immersion® experiences for you, our valued guests. Sycamore Partners is the ideal partner for the Azamara brand. It has an extensive record of investing in and elevating brands with significant potential and, through our partnership, we will accelerate our investment in our fleet and Destination Immersion® experiences. It is important to understand Azamara’s value proposition and operations will remain consistent under the new management. We are committed to maintaining the high guest engagement and once-in-a-lifetime experiences that make Azamara a unique and beloved upmarket cruise line. With our inspired itineraries, iconic destination programming and the most engaging service at sea, combined with our unparalleled knowledge of destination experiences, we will continue to redefine what an immersive, authentic vacation can be. And, we will do so safely. Health and safety during our return to service remain top-of-mind throughout the transition period and beyond. Azamara guests should expect the same caliber of careful considerations they have always expected when traveling with Azamara. Azamara will adopt the same health and safety protocols as the Royal Caribbean Group, developed by the Healthy Sail Panel, a world-renowned group of public health experts. Similar to other brands, Azamara has paused cruising until April 30, 2021. Specifically, current plans are to resume service on May 1 with Azamara Quest’s 14-night Black Sea sailing roundtrip and Azamara Journey’s six-night Amalfi & Adriatic Wonders voyage. As the brand prepares for its return-to-service, we will keep you updated on the latest dates and offerings. This is an exciting time for the Azamara family, and I will keep you informed as this transition continues. The transaction is subject to customary conditions and is expected to close in the first quarter of 2021. We remain a full member of the Royal Caribbean Group until that time. Until then, it is business as usual. If you have booked a voyage with Azamara, it remains unchanged. I encourage you to continue planning an exceptional holiday with us in 2021 and beyond. If you have questions about current travel options or any existing reservations, please call our customer care center. Thank you for being a part of this exciting time in our history. We look forward to having you on board in the future. Carol CabezasChief Operating Officer, Azamara Link to comment Share on other sites More sharing options...
Iamcruzin Posted January 19, 2021 #15 Share Posted January 19, 2021 4 minutes ago, soloadventurer said: I wonder what will be next in the Yard Sale. Everything must go 50% off There are so many liquidations happening in general. The competition seems to be who can go out of business first. 2 Link to comment Share on other sites More sharing options...
soloadventurer Posted January 19, 2021 #16 Share Posted January 19, 2021 16 minutes ago, Iamcruzin said: There are so many liquidations happening in general. The competition seems to be who can go out of business first. Possibly NCL or RCCL Once RC customers realise there won't be any cruises anytime soon & Its becoming harder to rebook (especially with price hikes to recoup the fcc 25%) they'll start asking for their money back!! Link to comment Share on other sites More sharing options...
The Grumpus Posted January 19, 2021 #17 Share Posted January 19, 2021 Richard Fain is saying he sees light at the end of the tunnel. Problem is, there may not be much left at the end of the tunnel. I wonder how much CocoCay is worth??? Link to comment Share on other sites More sharing options...
HicksRA Posted January 19, 2021 #18 Share Posted January 19, 2021 17 minutes ago, The Grumpus said: Richard Fain is saying he sees light at the end of the tunnel. Problem is, there may not be much left at the end of the tunnel. I wonder how much CocoCay is worth??? I fear the light he’s seeing is a fire sale... Link to comment Share on other sites More sharing options...
Ourusualbeach Posted January 19, 2021 #19 Share Posted January 19, 2021 2 hours ago, Ethanol95 said: Would it be safe to assume that sailing on Silversea from now onwards would allow your royal status to be carried over? Not sure why the sale of Azamara would impact any changes to Silversea's rewards program. Silversea has been with RCG for a while now and they haven't announced anything Link to comment Share on other sites More sharing options...
Ourusualbeach Posted January 19, 2021 #20 Share Posted January 19, 2021 1 hour ago, Blue Eyed Belfast Belle said: My friend has Azamara a FCC and is panicking as to whether it will be able to be used on other lines in RCG (Silver Seas, Royal or Celebrity) Just as the new company will be honoring existing bookings I would assume that they will honour existing FCC's. I would not expect Azamara FCC's to be valid on any of Royals lines 1 Link to comment Share on other sites More sharing options...
Baron Barracuda Posted January 19, 2021 #21 Share Posted January 19, 2021 4 hours ago, orville99 said: Given that the sale is for ~$200 Million, and RCG will be taking a $170 Million impairment charge on its books, not exactly a capital generator - more like a cash-bleeding interrupter. Effective price may be higher if Azamara debt is also transferring. No mention of this in press release or sec filing. Link to comment Share on other sites More sharing options...
Rare Silver Spectre Posted January 19, 2021 #22 Share Posted January 19, 2021 2 hours ago, Ethanol95 said: Would it be safe to assume that sailing on Silversea from now onwards would allow your royal status to be carried over? No. And IMHO pretty unlikely in the future. Link to comment Share on other sites More sharing options...
Rare Silver Spectre Posted January 19, 2021 #23 Share Posted January 19, 2021 3 hours ago, Biker19 said: 10 ships vs. 3 for Azmara and most are newer. Not only that but the space per guest and crew/guest ratios are both significantly higher on Silversea. Link to comment Share on other sites More sharing options...
toad455 Posted January 19, 2021 #24 Share Posted January 19, 2021 RCCL can always sell off more of their older ships. Grandeur, Rhapsody & Vision. Not sure what else they can do to keep scrapping by. Link to comment Share on other sites More sharing options...
The Grumpus Posted January 20, 2021 #25 Share Posted January 20, 2021 7 hours ago, Ourusualbeach said: Just as the new company will be honoring existing bookings I would assume that they will honour existing FCC's. I would not expect Azamara FCC's to be valid on any of Royals lines They might but I would not just assume that. I read the statement from the COO and all she said was things would remain the same up until the sale of the company. She mentioned nothing about FCC carry-over. Clearly this equity firm is picking up a deal on the street because they have money and knows RCCL needs money. The firm may decide to tell RCCL the FCC's is your problem, not ours. Hard to say at this point if this Firm is ready or able to run a cruise line. My guess is they plan to turn them over quickly, or sit on the ships until the market rebounds and sell them to the highest bidder. I'd be surprised if they end up sold for scrap, but these are trying times. Link to comment Share on other sites More sharing options...
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