Royal Caribbean CEO: Endeavor Acquisition Enhances 'Profitability Profile'

Jason Liberty, CEO

With Silversea acquiring the Crystal Endeavor for $275 million, Royal Caribbean Group's ultra-luxury brand is positioning itself for earnings growth in the expedition cruise market.

"With Endeavour, we are seeking to grow our world class fleet to meet the exceptional demand for ultra-luxury expedition cruising, while also enhancing our profitability profile and affirming Silversea's position as the industry's leading ultra-luxury and expedition cruise line," said Jason Liberty, president and CEO, Royal Caribbean Group. 

The purchase price for the vessel was $275 million, significantly below the cost of construction, according to a company press release.

The vessel was fully financed through a 15-year unsecured term loan, guaranteed by the German export credit agency, Euler Hermes, with no amortization payments in the first two years. The acquisition is expected to be immediately accretive to earnings, cash flow and ROIC. 

"The expedition cruising industry is poised to resume accelerated growth driven by demand among high-end, affluent customers for travel to remote and hard-to-access destinations," added Roberto Martinoli, president and CEO, Silversea Cruises, in a prepared statement. "This ship will be the fourth vessel to join Silversea's fleet since 2020, which demonstrates our commitment to growth." 

Cruise Industry News Email Alerts

 

 

Email Newsletter

Get the latest breaking cruise news. Sign up.

Cruise Ship Orderbook

72 Ships | 162,750 Berths | $46 Billion | View

New 2022 Annual Report

Cruise Industry News Annual Report

Highlights:

100% Overview

Capacity Data

Through 2027

Regional Data

Brand by Brand

Order Today

2022 Expedition Report

2022 Expedition Market Report Cover

Highlights:

Mkt. Overview

Supply Data

All Operators

190+ Pages

PDF Download

Order Today