Country for PR: United States
Contributor: PR Newswire New York
Monday, July 18 2022 - 22:41
Royal Caribbean Group acquires cruise ship Endeavor, growing Silversea Cruises' expedition offerings
MIAMI, July 18, 2022 /PRNewswire-AsiaNet/ --

Royal Caribbean Group (NYSE: RCL) today announced it has received court 
approval to acquire the ultra-luxury cruise ship Endeavor. Originally delivered 
to Crystal Cruises in 2021, the ship will be renamed Silver Endeavour when it 
officially joins the Group's wholly owned subsidiary, Silversea Cruises' fleet, 
this month.

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The purchase price for the vessel was $275 million, significantly below the 
cost of construction. The vessel was fully financed through a 15-year unsecured 
term loan, guaranteed by the German export credit agency, 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 expedition cruise line," said Jason Liberty, president 
and CEO, Royal Caribbean Group. 

Built to PC6 polar class specifications, the ship can operate all of 
Silversea's current expedition itineraries and is designed specifically to take 
travelers to the world's most remote destinations, including both polar regions.

"The expedition cruising industry is poised to resume accelerated growth driven 
by demand among high-end, affluent customers for travel to remote and 
hard-to-access destinations," said Roberto Martinoli, president and CEO, 
Silversea Cruises. "This ship will be the fourth vessel to join Silversea's 
fleet since 2020, which demonstrates our commitment to growth." 

Silver Endeavour offers the highest standards in the industry in terms of 
space-per-guest ratio, and crew-to-guest ratio, as well as top-notch 
accommodations and public areas. The ship's state-of-the-art expedition 
amenities offer guests some of the most immersive and luxury experiences 
available, including traveling with a fleet of zodiac boats for remote 

"Delivering the best vacations in the world, responsibly, is Royal Caribbean 
Group's purpose," Liberty said. "While our acquisition only covers the physical 
vessel, we want all of our guests to know we go above and beyond to take care 
of them."

As part of the ongoing RCL Cares program, Royal Caribbean Group will protect 
the deposits of guests who were originally booked on Crystal Endeavor and make 
a new booking on one of the Group's global brands – Royal Caribbean 
International, Celebrity Cruises and Silversea Cruises. 

"We believe those Crystal guests will receive back their deposits, but we want 
to give them added assurance," Liberty added.

To the extent the Crystal Endeavor guests do not receive their deposits back 
from Crystal or other sources, the Royal Caribbean Group will refund any amount 
paid on their new booking up to the amount of their lost deposits from Crystal. 
Complete terms of the offer will be provided on each brand's website soon.

Silver Endeavour is scheduled to begin service winter 2022/2023, spending its 
inaugural season in Antarctica starting November 2022.

About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the 
world with a global fleet of 63 ships traveling to approximately 1,000 
destinations around the world. Royal Caribbean Group is the owner and operator 
of three award-winning cruise brands: Royal Caribbean International, Celebrity 
Cruises ( 
), and Silversea Cruises ( 
), and it is also a 50% owner of a joint venture that operates TUI Cruises and 
Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order 
as of June 30, 2022. Learn more at or

Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements 
under the Private Securities Litigation Reform Act of 1995. These statements 
relate to, among other things, the company's expectations and projections 
regarding growth in the expedition cruising industry, customer demand, and 
profitability. Forward-looking statements reflect management's current 
expectations and are subject to risks, uncertainties and other factors that 
could cause our actual results, performance or achievements to differ 
materially from the future results, performance or achievements expressed or 
implied in those forward-looking statements. Factors that could affect our 
results include, among others, those discussed under the caption "Risk Factors" 
in our most recent quarterly report on Form 10-Q, as well as our other filings 
with the SEC, copies of which may be obtained by visiting our Investor 
Relations website at or the SEC's website at 
Undue reliance should not be placed on the forward-looking statements in this 
release, which are based on information available to us on the date hereof. We 
undertake no obligation to publicly update or revise any forward-looking 
statements, whether as a result of new information, future events or otherwise.

SOURCE  Royal Caribbean Group