Royal Caribbean Group to Sell Azamara to Private Equity Firm

Significant information in the cruise field: Azamara has entered into a definitive settlement to turn out to be element of Sycamore Companions, a non-public fairness organization. In an announcement from Carol Cabezas, chief operating officer of Azamara, she suggests the go will play an vital part in driving the brand name forward and expanding its “Destination Immersion” encounters.

Sycamore Associates, according to the announcement, “is the excellent lover for the Azamara model.” It has an extensive document of investing in and elevating brand names and, by means of the partnership, the organizations will accelerate the financial commitment in its fleet and activities.

“It is critical to recognize Azamara’s worth proposition and operations will remain steady beneath the new administration,” Cabezas said. “We are dedicated to retaining the higher visitor engagement and as soon as-in-a-life span experiences that make Azamara a unique and beloved upmarket cruise line.” With the new possession, Azamara ideas to “rapidly” broaden its portfolio of locations. 

See the online video announcement by Cabezas beneath:

In a statement offered to Travel Agent, Michelle Cost, CEO and founder of Cruise Planners, an American Specific Vacation Consultant, explained, “We failed to see this coming, but right after a year like 2020, nothing surprises me, and journey brands will require to make intelligent business selections in buy to survive.”

Upon its return to company, Azamara states wellness and security will be leading-of-intellect all through the changeover period of time and past. Azamara will adopt the exact wellbeing and security protocols as the Royal Caribbean Team, developed by the Wholesome Sail Panel, which includes a renowned group of general public health industry experts.

Azamara has paused cruising until April 30, 2021 at this time, plans are to resume services on Could 1 with Azamara Quest’s 14-evening “Black Sea” sailing roundtrip and Azamara Journey’s 6-night “Amalfi & Adriatic Miracles” voyage.

“This is an interesting time for the Azamara family, and I will retain you knowledgeable as this transition proceeds,” extra Cabezas. “The transaction is subject matter to customary ailments and is anticipated to shut in the to start with quarter of 2021. We continue to be a entire member of the Royal Caribbean Group until eventually that time.”

Until finally the transaction is formally done, “it is business as regular,” which means, if you have booked a voyage with Azamara, it remains unchanged. If you have queries about present journey options or any existing reservations, Azamara suggests to get in touch with its purchaser treatment center.

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