Sycamore Partners is the New Owners of Azamara Cruises as Royal Caribbean sells brand.

 

Published: January 25, 2021 - 12:01 AM

In a move that was not a surprise move, Royal Caribbean has sold their Azamara brand to financial investors - Sycamore Partners. It was unclear what Royal Caribbean was going to do with the Azamara brand after their acquisition of Silversea cruises. It was long expected that they would sell the cruise line or merge Azamara into Silversea since the two companies were previously competitors. Reportedly sold for $201 million dollars the deal included the Azamara brand name; it's three boutique sized premium vessels, and past passenger lists. The Sycamore Partners is expected to expand the line or possibly seek potential buyers once the market improves. Royal Caribbean is stating that there will be no change to Azamara's operations and the same COVID-19 precautions will be in place as the other Royal Caribbean brands. 

Royal Caribbean will continue to focus on the Silversea brand as their upscale cruise line and further develop the brand. Silversea has a very strong following with older cruisers and has a very upscale reputation.

The premium market is expected to take longer to recover from COVID-19 since the majority of passengers that can afford these more expensive longer cruises may be less likely to return to selling in the near future. It has also been rumored that Carnival is actively seeking a buyer for Cunard Line, but this rumor has been circulating for months. Only time will tell what the path to cruising will look like for the premium sector.

 

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