Royal Caribbean Group to Sell Azamara to Private Equity Firm
Huge information in the cruise business: Azamara has entered into a definitive agreement to become component of Sycamore Partners, a non-public fairness business. In an announcement from Carol Cabezas, main running officer of Azamara, she states the go will participate in an critical job in driving the manufacturer ahead and expanding its “Destination Immersion” ordeals.
Sycamore Associates, according to the announcement, “is the ideal husband or wife for the Azamara model.” It has an extensive history of investing in and elevating models and, by way of the partnership, the organizations will accelerate the investment in its fleet and experiences.
“It is vital to have an understanding of Azamara’s value proposition and operations will stay steady under the new management,” Cabezas claimed. “We are fully commited to preserving the significant guest engagement and at the time-in-a-life time experiences that make Azamara a unique and beloved upmarket cruise line.” With the new ownership, Azamara programs to “promptly” increase its portfolio of places.
Perspective the video clip announcement by Cabezas below:
In a statement furnished to Journey Agent, Michelle Fee, CEO and founder of Cruise Planners, an American Express Vacation Consultant, stated, “We did not see this coming, but right after a 12 months like 2020, very little surprises me, and vacation brands will want to make smart business conclusions in order to survive.”
Upon its return to services, Azamara states health and safety will be prime-of-intellect during the changeover interval and beyond. Azamara will adopt the identical health and protection protocols as the Royal Caribbean Group, designed by the Nutritious Sail Panel, which consists of a renowned group of general public wellness experts.
Azamara has paused cruising right up until April 30, 2021 currently, ideas are to resume support on May perhaps 1 with Azamara Quest’s 14-evening “Black Sea” sailing roundtrip and Azamara Journey’s 6-night “Amalfi & Adriatic Miracles” voyage.
“This is an fascinating time for the Azamara spouse and children, and I will continue to keep you informed as this transition proceeds,” additional Cabezas. “The transaction is matter to customary circumstances and is expected to near in the very first quarter of 2021. We continue being a comprehensive member of the Royal Caribbean Team until finally that time.”
Till the transaction is officially concluded, “it is business as usual,” which means, if you have booked a voyage with Azamara, it stays unchanged. If you have inquiries about present vacation choices or any existing reservations, Azamara states to phone its purchaser care center.
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