ROYAL CARIBBEAN GROUP SELLS CRUISE BRAND
Royal Caribbean Group Sells Cruise BranD
In an unexpected announcement on Tuesday morning, Royal Caribbean Group (RCL) reported that it’s selling boutique cruise brand Azamara. New York-based private equity firm Sycamore Partners is purchasing the cruise brand in a $201 million cash deal.
Upon closing, the firm will acquire the three-ship fleet and all associated intellectual property. The transaction is subject to customary conditions and is expected to close in the first quarter of 2021.
“We are excited to partner with the Azamara team and build on their many years of success serving the brand’s loyal customers. We believe Azamara will remain a top choice for discerning travelers as the cruising industry recovers over time,” said Stefan Kaluzny, Managing Director of Sycamore Partners.