Royal Caribbean acquires two-thirds stake in Silversea Cruises

1 August 2018 (Last Updated August 3rd, 2018 08:33)

Royal Caribbean Cruises has completed the previously announced acquisition of a 66.7% stake in Silversea Cruises, an ultra-luxury and expedition cruise services provider.

Royal Caribbean Cruises has completed the previously announced acquisition of a 66.7% stake in Silversea Cruises, an ultra-luxury and expedition cruise services provider.

The deal was completed after regulators approved the stake purchase, based on an enterprise value of approximately $2bn.

As part of the deal, Silversea executive chairman Lefebvre d’Ovidio will own the remaining one-third stake and will retain his current position.

d’Ovidio said: “This partnership enables us to realise our vision of being the uncontested leader in ultra-luxury cruising and expedition, taking our guests to more than 1,000 destinations aboard some of the world’s most luxurious vessels.”

The addition of Silversea has brought the total number of ships in RCL’s fleet to 59, with a further 15 on order.

Both the companies have also unveiled the Project Invictus, a multi-year programme to take Silversea’s ultra-luxury offerings to the next level.

“Our intent is to solidify our already-strong leadership position with an exciting array of upgrades that thrill our guests.”

As part of the Project Invictus, the companies plan to implement various enhancements, including product upgrades and ship revitalisation programmes.

Silversea CEO Roberto Martinoli said: “Our intent is to solidify our already-strong leadership position with an exciting array of upgrades that thrill our guests.”

The Silver Muse vessel from Silversea will be the first ship to launch enhancements under the Invictus programme. Scheduled to be introduced on 19 August, the enhancements will include an upgraded champagne and caviar offering.

The enhancements will then be implemented to other Silversea vessels.

Silversea’s ultra-luxury fleet of vessels, including Silver Whisper and Silver Wind, will also be upgraded.

As part of the upgrade, Silver Whisper is expected to undergo a scheduled renovation in December, which will include a partial refit of all guest cabins, while Silver Wind is set to enter an enhanced dry dock in the same month.