Royal Caribbean Cruises Ltd.

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Royal Caribbean Cruises Ltd.
Public
Traded asNYSERCL
S&P 500 Component
IndustryHospitality, tourism
Founded1997 (1997)
HeadquartersMiami, Florida, USA
Area served
Worldwide
Key people
Richard D. Fain
(Chairman and CEO)
Adam Goldstein
(Vice Chairman)
ServicesCruises
RevenueIncrease US$ 8.30 billion (2015)[1]
Decrease US$ 875 million (2015)[1]
Increase US$ 1.07 billion (2015)[1]
Total assetsIncrease US$ 20.9 billion (2015)[1]
Total equityDecrease US$ 8.06 billion (2015)[1]
Number of employees
Increase 66,000 (2015)[1]
Subsidiaries
Websitewww.rclcorporate.com

Royal Caribbean Cruises Ltd. (RCCL) is a global cruise holding company incorporated in Liberia and based in Miami, Florida. It is the world's second-largest cruise line operator, after Carnival Corporation & plc. As of March 2009, Royal Caribbean Cruises Ltd. fully owns three cruise lines: Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises. They also hold a 67% stake in Silversea Cruises[2], a 50% stake in TUI Cruises and 49% stakes in Pullmantur Cruises and CDF Croisières de France.[3][4] Previously Royal Caribbean Cruises also owned 50% of Island Cruises, but this was sold to TUI Travel PLC in October 2008.[5]

History[edit]

Royal Caribbean headquarters.

Royal Caribbean Cruises Ltd. was formed in 1997 when Royal Caribbean Cruise Line purchased Celebrity Cruises. The decision was made to keep the two cruise line brands separate following the merger; as a result Royal Caribbean Cruise Line was re-branded Royal Caribbean International and Royal Caribbean Cruises Ltd. was established as the new parent company of both Royal Caribbean International and Celebrity Cruises.[6]

A third brand under Royal Caribbean Cruises ownership was formed in 2000 when Island Cruises was created as a joint venture with British First Choice Holidays. Island Cruises became an informal cruise line on the British and Brazilian markets.[7]

In November 2006, Royal Caribbean Cruises purchased Pullmantur Cruises based in Madrid, Spain. From there, the company expanded rapidly with the creation of Azamara Club Cruises in May 2007 as a subsidiary of Celebrity Cruises[8]. It followed this with the formation of CDF Croisières de France in May 2008 to serve the French-language market.[9]

Royal Caribbean also has an interest in TUI Cruises, a joint venture with TUI AG,[10] which began operations in 2009 aimed at a German-speaking audience. TUI Cruises's subsidiary, TUI Travel, had a 50% interest in Island Cruises following their merger with First Choice Holidays in 2007.[11] In October 2008, Royal Caribbean Cruises rationalized their holdings by selling their share of Island Cruises to TUI.[5]

Subsidiaries[edit]

Royal Caribbean International[edit]

Royal Caribbean International (RCI), also known by its former name Royal Caribbean Cruise Line, is a cruise line brand founded in 1968 in Norway and organised as a wholly owned subsidiary of Royal Caribbean Cruises Ltd. since 1997. Based in Miami, Florida, United States, it is one of the largest cruise lines in the world. In 2018, Royal Caribbean International controlled 19.2% of the worldwide cruise market by passengers and 14.0% by revenue.[12] It also operates many of the world's largest ships; as of May 2018, the line operates twenty-five ships, including the four largest ships in the world, and has six additional ships on order.

Celebrity Cruises[edit]

Celebrity Cruises
Subsidiary
IndustryTourism, transport
Founded1988
HeadquartersMiami, Florida
Area served
Worldwide
Key people
Lisa Lutoff-Perlo
(President and CEO)
ProductsCruises
ParentRoyal Caribbean Cruises Ltd.
Websitecelebritycruises.com

Celebrity Cruises is a cruise line which was founded in 1988 by the Greece-based Chandris Group. In 1997, Celebrity Cruises Ltd. merged with Royal Caribbean Cruise Line to form Royal Caribbean Cruises Ltd., and has been a wholly owned subsidiary of the latter since then. The company has its headquarters in Miami, Florida.[13] Celebrity's signature logo is an "Χ" displayed on the funnel of Celebrity ships, and is the Greek letter chi, for "Chandris".[14][15]

Azamara Club Cruises[edit]

Other significant investments[edit]

Pullmantur Cruises[edit]

Pullmantur Cruises is a cruise line headquartered in Madrid, Spain.[16] It began operations in the late 1990s as an offshoot of the Madrid-based travel agency Pullmantur. In 2006, Pullmantur Cruises, through its parent company, was purchased by US-based Royal Caribbean Cruises Ltd.,[17] but Royal Caribbean later sold a 51% stake in the cruise line to Spain-based investment firm Springwater Capital, retaining a 49% stake.[18]

Pullmantur Cruises is the largest Spain-based cruise line. The company mainly markets to Spanish passengers, although cruises on Pullmantur ships are also sold by some travel operators outside the Spanish-speaking world. Some of the company's ships operate an "all-inclusive" product, where some extras, such as brand alcoholic beverages, are included in the cruise price.[17] Originally, most Pullmantur ships do not operate cruises for the company during the northern hemisphere winter season. Instead, they are either laid up or under charter to other cruise lines, such as the Brazil-based Viagens CVC.[17]

TUI Cruises[edit]

TUI Cruises is a cruise line based in Germany. It was formed in 2007 as a joint venture between the German tourism company TUI AG and the American cruise line operator Royal Caribbean Cruises Ltd., both of whom hold a 50% stake in the company. The company started operations in 2009 and competes with AIDA Cruises and Hapag-Lloyd Kreuzfahrten for the German market. It targets German-speaking customers who opt for a premium cruise experience. The onboard product, including food, entertainment and amenities, is custom-tailored for German tastes and German is the main language used onboard its ships.[19]

Former brands[edit]

Lobbying[edit]

Royal Caribbean Cruises and its subsidiaries engage political lobbyists in jurisdictions where it holds interests. For example, in South Australia it engaged FIPRA Australia.[20]

Other companies owned by RCCL[edit]

  • Wamos Air (formerly Air Pullmantur, 19% share)

References[edit]

  1. ^ a b c d e f "ROYAL CARIBBEAN CRUISES LTD. 2015 Annual Report" (PDF). Retrieved 2017-03-18.
  2. ^ "ROYAL CARIBBEAN TO INVEST IN SILVERSEA CRUISES | Silversea". Retrieved 2018-06-15.
  3. ^ "Investor Relations Overview". Royal Caribbean Cruises Ltd. Retrieved 10 November 2008.
  4. ^ Newman, Doug (30 April 2008). "Celebrity Galaxy to Be TUI Cruises' First Ship". At Sea with Doug Newman. Archived from the original on 19 July 2008. Retrieved 10 November 2008.
  5. ^ a b "Royal Caribbean Cruises Ltd. to Sell Its Interest in Island Cruises to First Choice Holidays Ltd". Royal Caribbean Cruises Ltd. 6 October 2008. Retrieved 10 November 2008.
  6. ^ Plowman, Peter (2006). The Chandris Liners and Celebrity Cruises. Rosenberg Publishing. p. 219. ISBN 1-877058-47-5.
  7. ^ "Island Cruises ownership" (PDF). Island Cruises press material. Archived from the original (PDF) on 2008-02-27. Retrieved 2007-12-11.
  8. ^ "Celebrity Cruises Presents New, Deluxe Cruise Line: Azamara Cruises". Royal Caribbean Cruise Ltd. Press Release. Retrieved 2007-12-11.
  9. ^ Cruise Business Review: Royal Caribbean starts new cruise line dedicated to French market Archived 2008-03-19 at the Wayback Machine, retrieved 14. 10. 2007
  10. ^ "TUI AG and Royal Caribbean Cruises Ltd. announce joint venture to serve German cruise market". Royal Caribbean Cruise Ltd. Press Release. Retrieved 2007-12-11.
  11. ^ "Tui Travel plc Begins Trading on the London Stock Exchange" (PDF). TUI Travel PLC press release. Archived from the original (PDF) on 2008-02-27. Retrieved 2007-12-11.
  12. ^ "2018 Worldwide Cruise Line Market Share". cruisemarketwatch.com. Cruise Market Watch. Archived from the original on 6 November 2018. Retrieved 26 December 2018.
  13. ^ "Contact Us." Celebrity Cruises. Retrieved on 20 January 2010.
  14. ^ Maritime Matters: Sun Vista, retrieved 29. 11. 2007 Archived 16 October 2007 at the Wayback Machine
  15. ^ Ulrich, Kurt. (1997). Monarchs of the sea : the great ocean liner. London: Taurus Parke Books. p. 177. ISBN 1-86064-373-6.
  16. ^ "Legal Notice Archived 2015-04-25 at the Wayback Machine." Pullmantur. Retrieved on 13 May 2015. "Pullmantur, S.A CIF A28261337. Located on, number 2 Mahonia Street, Madrid 28043." and "Pullmantur Cruises S.L. CIF B84581701. Located on, number 2 Mahonia Street, Madrid 28043."
  17. ^ a b c Newman, Doug (2007-08-27). "Cruise Ship Reviews > Pullmantur". Cruise Critic. The Independent Traveler, Inc. Retrieved 2008-04-16.
  18. ^ Royal Caribbean (10 May 2016). "Royal Caribbean Cruises Ltd. And Springwater Capital Announce Joint Venture" (Press release). Miami, Florida and Madrid, Spain: Royal Caribbean. PRNewswire. Retrieved 16 May 2016.
  19. ^ "Royal Caribbean and TUI AG complete joint venture for TUI Cruises". Cruise Industry News. 28 April 2008. Retrieved 21 April 2010.
  20. ^ "South Australian Register of Lobbyists - FIPRA Australia" (PDF).

External links[edit]