MIAMI, July 18, 2022 /PRNewswire/ Royal Caribbean Group (NYSE:RCL) today announced it has received court approval to acquire the ultra-luxury cruise shipEndeavor. Originally delivered to Crystal Cruises in 2021, the ship will be renamedSilver Endeavourwhen it officially joins the Group's wholly owned subsidiary, Silversea Cruises' fleet, this month. The purchase price for the vessel was $275 million, significantly below the cost of construction. The vessel wasfully financedthrough a15-year unsecured term loan, guaranteedby the Germanexportcreditagency, 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. "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 expedi
Royal Caribbean has been given the green light by the courts the acquire the Endeavor, a 200-passenger ship last operated by Crystal Cruises before the line ceased operating earlier this year.
Silversea welcomes Silver Endeavour to its fleet breakingtravelnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from breakingtravelnews.com Daily Mail and Mail on Sunday newspapers.
The hotly contested bidding for bankrupt Crystal Cruises’ expedition cruise ship is over with Royal Caribbean Group emerging as the winner of the vess.