Big changes in cruising: Royal Caribbean to sell Azamara
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
The ongoing pandemic has caused sea changes throughout the travel industry. Today, Royal Caribbean announced that it had entered a “definitive agreement” to sell its beloved Azamara brand to Sycamore Partners. If you’re not familiar with Sycamore, it’s a private equity firm. The deal, worth $210 million, is expected to close in the first quarter of 2021.
For more cruise news, reviews and tips, sign up for TPG’s cruise newsletter.
Azamara has a fleet of three ships and each carries fewer than 700 passengers. It may be one of the smaller lines in the industry, but over the years it’s built up a reputation for offering premium cruises that focus on multi-night port calls, special VIP events on shore, excellent dining and beverage choices, and exemplary service. These intimate, upscale ships are comfortable home bases to explore the world’s most exotic destinations.
Royal Caribbean sees the sale as an integral part of its forward-thinking game plan. “Our strategy has evolved into placing more of our resources behind three global brands, Royal Caribbean International, Celebrity Cruises and Silversea, and working to grow them as we emerge from this unprecedented period,” said Richard D. Fain, Chairman and Chief Executive Officer of Royal Caribbean Group. “Even so, Azamara remains a strong brand with its own tremendous potential for growth, and Sycamore’s track record demonstrates that they will be good stewards of what the Azamara team has built over the past 13 years.”
For its part, Sycamore Partners says it will continue Azamara’s operations in a way that presents consistency to passengers. According to Stefan Kaluzny, Managing Director of Sycamore Partners, “We believe Azamara will remain a top choice for discerning travelers as the cruising industry recovers over time.”
Azamara Chief Operating Officer Carol Cabezas has been appointed president of the brand.
Featured image courtesy of Azamara.
Welcome to The Points Guy!
WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,650
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.