News

Royal Caribbean Group acquires remaining interest in Silversea

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 10 July 2020 10 July 2020

Royal Caribbean Group has purchased the remaining shares of Silversea Cruises, a pioneer and leader in ultra-luxury and expedition cruising.

The move to full ownership comes two years after Royal Caribbean Group acquired a two-thirds share of the cruise line in July 2018.

"Silversea has been a great fit for our company from the very first day," said Richard D. Fain, Chairman and CEO of Royal Caribbean Group. "The cultures of the two organizations have proven to be harmonious, and guests have responded favorably to the combination."

Manfredi Lefebvre d'Ovidio, who took over the company from his late father, will serve as chairman of Silversea. Roberto Martinoli will remain the brand's president and CEO.

"Manfredi and Roberto have brought a fresh point of view to our company, as well as deep knowledge of their brand's unique audience," Fain said. "Their skills – and Manfredi's inimitable style – will continue to play an important role in growing Silversea into the future."

Said Lefebvre: "The combination of our companies has been everything I hoped for. The skills and resources of Royal Caribbean Group have helped us grow and flourish. We share a vision about the bright future of cruising, and I look forward to being a shareholder in the broader Royal Caribbean Group."

Added Martinoli: "Thanks to the incredible resources and skills of Royal Caribbean Group, Silversea will grow and thrive. Today marks another key step in our drive to uncontested leadership in ultra-luxury and expedition cruising."

The remaining one-third stake held by Heritage Cruise Holding Ltd. was paid for in the form of 5.2 million shares of Royal Caribbean Group common stock, which represents about 2.5% of the total common stock.

Perella Weinberg Partners LP served as financial advisor and Skadden Arps, Slate, Meagher & Flom LLP served as legal advisor to the company regarding this transaction. Barclays Bank PLC served as financial advisor to Manfredi Lefebvre and Morgan, Lewis & Bockius LLP provided legal counsel.

Don’t go on a cruise yet – British foreign affairs ministry

Details: Written by Kari Reinikainen Kari Reinikainen; Category: Top Headlines Top Headlines; Published: 10 July 2020 10 July 2020

The British ministry of foreign affairs has issued a statement in which it advises against cruise travel, tightening its recommendation as in march it only advised those over he age of 70not to cruise.

“The Foreign & Commonwealth Office advises against cruise ship travel at this time. This is due to the ongoing pandemic and is based on medical advice from Public Health England,” the ministry said, adding that the government would continue to review its cruise ship travel advice based on the latest medical advice.

“If you have future cruise travel plans, you should speak to your travel operator, or the travel company you booked with, for further advice,” the ministry said.

The Foreign & Commonwealth Office continues to support the Department for Transport’s work with industry for the resumption of international cruise travel, it concluded.

While the recommendation does not mean an outright ban for British nationals to cruise, going on a cruise holiday during the time the recommendation is in force may invalidate the travel insurance of those doing so.

Carnival Corporation names Antorcha to lead Holland America Line, Palomba as COO for Carnival Cruise Line

Details: Written by Teijo Niemelä Teijo Niemelä; Category: Top Headlines Top Headlines; Published: 09 July 2020 09 July 2020

Carnival Corporation & plc today announced two important moves within its global leadership team as part of the company's broader efforts to enhance operations and best prepare the organization for the eventual resumption of cruising.

Gus Antorcha, currently chief operations officer for Carnival Cruise Line, has been named president of Holland America Line, effective immediately. Antorcha will report directly to Stein Kruse, group CEO of Holland America Group and Carnival UK.

Neil Palomba, currently president of the company's Italy-based Costa Cruises, has been named executive vice president and chief operations officer for Carnival Cruise Line, effective immediately, reporting directly to Christine Duffy, president of the brand. During Palomba's transition, the Costa Cruises leadership team will continue to report to Michael Thamm, CEO of Costa Group and Carnival Asia.

"As part of our ongoing efforts to continue enhancing our global operations, these moves clearly demonstrate the depth and strength of our leadership team," said Arnold Donald, CEO of Carnival Corporation. "We are using this pause in guest operations to evaluate every aspect of our business, including our leadership structures, and make changes where appropriate to improve our business. Gus and Neil are both proven and strategic leaders within our organization, and we are looking forward to their contributions and success in these new roles as we position our company and our brands for a bright future."

Antorcha will lead one of Carnival Corporation's most storied brands, Holland America Line, an award-winning, premium cruise line known for immersive, authentic experiences onboard and shoreside. In this role, he will guide Holland America Line's return to cruise operations and plans for future growth, including sales and marketing, revenue management, deployment and itinerary planning, public relations, guest services operations and strategic planning.

As an industry veteran with over nine years of service at Carnival Cruise Line, Antorcha held several key leadership roles supporting the brand's continued growth and popularity amongst cruisers. Prior to becoming chief operations officer, Antorcha served as Carnival Cruise Line's executive vice president, guest services, responsible for onboard operations, and senior vice president, guest commerce. He previously served as a partner and managing director for Boston Consulting Group.

Palomba assumes the role of chief operations officer for Carnival Corporation's namesake and largest brand, Carnival Cruise Line. In this role, his responsibilities include oversight of all hotel operations, guest services, guest commerce and guest care.

Since February 2015, Palomba has led Costa Cruises, with responsibility for managing all aspects of the brand, including strategy, product design, guest care, sales, marketing, revenue management and fleet deployment, among others. Under his leadership, Costa Cruises introduced its "Italy's Finest" brand positioning, debuted a number of guest and onboard experience innovations, and launched Costa Smeralda, the brand's first cruise ship powered by liquefied natural gas (LNG).

Prior to becoming president of Costa Cruises, Palomba served as the brand's senior vice president, hotel operations and guest experience beginning in January 2014. Previously, he held multiple leadership positions in the cruise industry, working up to corporate operating officer for a global cruise line, following multiple onshore and onboard roles, including positions in the hotel and deck departments on board a cruise ship and rising to serve as a second officer.