Summary
Royal Caribbean Cruises Ltd. (RCL) announced a significant development on October 31, 2006, regarding its acquisition of Pullmantur S.A. and a strategic ship swap between its Celebrity and Pullmantur brands. The company received the final antitrust approvals from Spain and Portugal, clearing the path for the acquisition to close by mid-November. This move is expected to enhance RCL's presence in key European markets and strengthen the Pullmantur brand with additional capacity. In conjunction with the Pullmantur acquisition, RCL is launching 'Celebrity Expeditions,' an extension of the Celebrity Cruises brand focused on small ship, destination-driven experiences. The 718-guest ship 'Blue Dream' from Pullmantur will be renamed 'Celebrity Journey' and will join the Celebrity fleet in April 2007, offering Bermuda itineraries. In exchange, Celebrity's 'Zenith' will be redeployed to the Pullmantur fleet in June 2007, undergoing modifications to cater to the Spanish market and sail Mediterranean cruises.
Key Highlights
- 1Royal Caribbean Cruises Ltd. has received final antitrust approvals from Spain and Portugal for its acquisition of Pullmantur S.A.
- 2The acquisition of Pullmantur is expected to close by mid-November 2006.
- 3RCL is launching 'Celebrity Expeditions' as a new brand extension for Celebrity Cruises, focusing on small ship, destination-driven itineraries.
- 4The ship 'Blue Dream' (Pullmantur) will be renamed 'Celebrity Journey' and join the Celebrity fleet in April 2007, sailing Bermuda routes.
- 5Celebrity's ship 'Zenith' will be transferred to the Pullmantur fleet in June 2007, to be customized for the Spanish market and sail Mediterranean cruises.
- 6The 'Zenith' redeployment will add needed capacity to the Pullmantur fleet.
- 7Bookings for 'Zenith' guests affected by the swap will be handled by Celebrity representatives, with a dedicated helpline for inquiries.