CaribPR Wire

MIAMI, April 6, 2023 /PRNewswire-HISPANIC PR WIRE/ — Today, Royal Caribbean Group (NYSE: RCL) announced that after an illustrious tenure at the helm of Celebrity Cruises, Lisa Lutoff-Perlo will transition to Vice Chair, External Affairs for Royal Caribbean Group, effective May 1. In her new role, Lutoff-Perlo will continue reporting to Royal Caribbean Group President and CEO Jason Liberty. Laura Hodges Bethge, currently executive vice president, shared services operations, will become the next brand president of Celebrity Cruises.

“Lisa has been instrumental in transforming the Celebrity Cruises brand to what it is today,” said Jason Liberty, president and CEO, Royal Caribbean Group. “From helping us introduce the revolutionary Edge Series of ships to advancing the role of women in maritime careers, Lisa has had an incredible career during her time leading Celebrity Cruises, and multiple parts of our Royal Caribbean International brand. I have had the pleasure of working with Lisa for almost 18 years, and I know her expertise will be invaluable as she transitions to serve as my Vice Chair, External Affairs.”

“It has always been difficult for me to imagine leaving the incredible Celebrity brand, but the time is right for me to start an exciting new chapter and turn the helm over to a new leader,” said Lisa Lutoff-Perlo. “It has been my great honor to lead this brand and work alongside the phenomenal Celebrity shoreside team and crew. Together, our accomplishments have been extraordinary. I’m excited to now work closely with Jason on broader initiatives as we sail toward an even brighter future.”

Lutoff-Perlo’s remarkable career with Royal Caribbean Group began in 1985 with her first role as a district sales manager and she went on to trailblaze a legacy of firsts. Along the way, she also led Celebrity Cruises to record growth, revenue, and profit, and she championed the brand’s evolution into the incredible cruise line it is today. Under her leadership, Celebrity Cruises welcomed four new award-winning ships, and underwent the Celebrity Revolution, one of the largest fleet revitalization projects in the industry.

In 2005, Lutoff-Perlo became Celebrity’s first female senior vice president of hotel operations. In 2012, she was named executive vice president of operations for Royal Caribbean International, the first woman in the industry to oversee both hotel and marine operations. Two short years later, she was the first woman appointed to president and CEO of one of Royal Caribbean Group’s brands.

“I would also like to congratulate Laura for her appointment as the next brand president of Celebrity Cruises,” Liberty added. “With her operational experience, business acumen and deep understanding of our company and the cruise industry, I know Laura is the right person to lead Celebrity Cruises to its next phases of growth.”

Most recently serving as executive vice president, shared services operations, Laura Hodges Bethge has been with the company more than 23 years and has held senior positions in many different areas including product development, hotel and marine operations, sales, marketing, product innovation, market development and investor relations.

Hodges Bethge is an exemplary leader with a long history of success at the company. Previously, she was senior vice president of product development for Royal Caribbean International, and led the teams conceptualizing their groundbreaking ships, private island destinations, and new experiences introduced throughout the award-winning fleet, including the first island in Royal Caribbean’s Perfect Day Island Collection – Perfect Day at CocoCay.

“Now 15 ships strong, this is an exciting time for Celebrity Cruises,” said Laura Hodges Bethge. “This year alone, we’ll be welcoming Celebrity Ascent, and reaching key construction milestones in the yet-to-be-named fifth ship in the revolutionary Edge Series. I look forward to building on the incredible achievements of Lisa and this world class team, as we continue to break boundaries and chart new courses in the industry.”

For more information on Royal Caribbean Group’s executive leadership, please visit https://www.royalcaribbeangroup.com/about/.

About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of December 31, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

About Celebrity Cruises
Celebrity Cruises’ iconic “X” is the mark of a fleet of 15 relaxed luxury resorts at sea taking guests to the world’s best places on the world’s best places. Celebrity revolutionized the industry with its cool, contemporary design and accommodation; dining, spa, and entertainment experiences for modern tastes; and culturally rich and diverse destination experiences, all complemented by warm, personalized service. Driven by wanderlust and a passion for opening the world, Celebrity journeys to all seven continents, visiting nearly 300 destinations in more than 70 countries. Celebrity Cruises is one of five cruise brands owned by global cruise company Royal Caribbean Group (NYSE: RCL). For more information about Celebrity Cruises, please visit www.celebrity.com.

Photo - https://mma.prnewswire.com/media/2049204/Laura_Hodges_Bethge_Royal_Caribbean_Group.jpg

Photo - https://mma.prnewswire.com/media/2049205/Lisa_Lutoff_Perlo_Headshot_Royal_Caribbean_Group.jpg

Logo - https://mma.prnewswire.com/media/1213007/RCG_Logo.jpg

Logo - https://mma.prnewswire.com/media/494898/Celebrity_Cruises_Logo.jpg

GENOA, Italy and WOLLERAU, Switzerland, Feb. 16, 2023 /PRNewswire/ – Costa Group, part of Carnival Corporation and Europe’s leading cruise operator with its two brands Costa Cruises and AIDA Cruises, and the leading methanol producer, Proman, have signed an MOU to drive further the implementation of methanol as a marine fuel for the cruise industry.

The partnership aims to accelerate the energy transition and decarbonisation of the existing fleet by enhancing the supply of sustainable methanol, paving the way for the retrofitting of existing vessels to operate on clean fuel, as well as investment in further methanol-fueled new builds.

Today’s MOU reaffirms methanol’s potential to play a key role in the ongoing reduction of GHG emissions of the cruise sector and other shipping segments. It is a cleaner-burning fuel which virtually eliminates airborne pollutants such as particulate matter and sulphur oxides and is widely available and increasingly produced via lower-carbon, biogenic or hydrogen-based pathways. When used in fuel cells, methanol has the potential to allow for lifecycle zero emissions in the near future.

Methanol is emerging as a leading alternative fuel to meet GHG reduction goals due to its easy-to-handle properties, making it attractive for both new builds and for refitting existing ships. As one of the most widely traded chemical commodities, the infrastructure for ship supply could be adapted from existing infrastructure. All forms of methanol, whether natural-gas based, low-carbon or renewable, can be blended regardless of production pathways. It therefore enables a reliable transition pathway from today to fully GHG neutral cruise ships in near future.

“The technology to retrofit a vessel to accept methanol as a fuel is available today.  Our methanol products can facilitate the transition to low carbon intensity fuels. Methanol-powered vessels have a proven track record of reducing and eliminating major greenhouse gas emissions, delivering immediate air quality improvements around major ports and shipping lanes. We are excited to bring our expertise along the full methanol value chain to help deliver on Costa Group’s bold ambitions” – said Tim Cornelius, Proman’s Managing Director of Corporate Development.

Over the years, Costa Group has been leading sustainable innovation in the global cruise industry by steadily pioneering advanced technologies on board its new and existing ships. The company was the first to introduce liquefied natural gas (LNG) propulsion for emission reduction with four ships already in service in the Costa Group fleet. The majority of Costa Group ships are equipped with shore power capabilities to be zero emissions in ports where the technology is available, and the Company has also performed the first tests on biofuels. By this and the likes of today’s partnership with Proman, Costa Group has proven that fuel transition in the marine industry is possible by strong industry collaboration and shared visions for a sustainable future.

“We are reducing the carbon footprint of our fleet while at port and at sea, investing in advanced environmental technologies and partnering with companies such as Proman who share a passion for sustainable energy transition. By enabling cruise ships to use methanol as a propulsion fuel, Costa follows the ambition to take the next big step towards GHG neutral operations of our fleet by 2050″ – said Dr. Christoph Schladoer, VP Decarbonisation Costa Group.

www.costapresscenter.com

About Proman:

Proman is an integrated energy company and the world’s second largest methanol producer.

Headquartered in Switzerland, with assets in the United States, Trinidad and Oman, and ongoing expansion into Mexico, Canada and the UAE, Proman is a global leader in methanol, fertilizer and other products such as melamine. We have extensive experience in project management, petrochemical plant construction and operations, marketing and logistics, and shipping.

Proman is committed to developing lower-carbon and sustainable methanol and ammonia as cleaner alternatives to fossil fuels, offering a pathway to drastically cutting emissions in a range of sectors including transport and heavy industry. www.proman.org

About Costa Group:

The Costa Group is the leading cruise company in Europe, headquartered in Genoa (Italy). Part of the Carnival Corporation & plc Group, listed on the London and New York stock exchanges and world leader in the sector, the Costa Group includes the Costa Cruises and the AIDA Cruises brands. Its fleet can count on a total of 23 ships, all flying the Italian flag. The company has a global workforce about 29,000 employees working onboard and in its offices.

www.aida.de

www.costacruise.com

Photo - https://mma.prnewswire.com/media/2004005/Costa_Cruises.jpg
Logo - https://mma.prnewswire.com/media/1775857/Proman_Logo.jpg
Logo - https://mma.prnewswire.com/media/2004132/Costa_Group_Logo.jpg

MIAMI, Feb. 8, 2023 /PRNewswire-HISPANIC PR WIRE/ — Today, Royal Caribbean Group (NYSE: RCL) named Palle Laursen as executive vice president, head of marine, effective May 1, 2023. Laursen will report to Royal Caribbean Group’s President and CEO Jason Liberty and will join the company’s Executive Committee.

With this newly created position, the company will centralize its global and brand marine operations functions under Laursen. He will oversee all marine operations for the company’s entire fleet, as well as strategic oversight of marine operations of its TUI Cruises and Hapag-Lloyd Cruises, of which it’s a 50% joint-venture owner.

“It is with great pleasure that we welcome Palle Laursen to the Royal Caribbean Group,” said Jason Liberty, president and CEO, Royal Caribbean Group. “Palle has had a long and distinguished career with Maersk and is a recognized leader in the maritime industry. With more than 25 years of experience, his direct technical and operational knowledge will serve our company well, especially as we continually work to decarbonize our business.”

Most recently, Laursen served as chief fleet and technical officer at A.P. Moller – Maersk and was responsible for its entire fleet of more than 750 container vessels, 400 chartered vessels and 350 owned vessels as well as chartering, technical management, crew management, safety and compliance, newbuilding activities and engineering services. He also led Maersk’s effort to have the entire fleet operating fully carbon neutral by 2040.

Having joined the Maersk Group in early 1998, Laursen has spent his entire professional career at the Danish shipping company. Previously, he was vice president and head of Ship Management and also held several other roles with increasing responsibilities, including head of technical services, ship engineering and technical vessel operations.

“This is an exciting time for the Royal Caribbean Group, and I very much look forward to helping the company deliver the best vacations in the world, responsibly,” said Palle Laursen. “I look forward to joining the most innovative team in the industry at Royal Caribbean Group and lead the marine team alongside a team committed to operational excellence, and environmental stewardship.”

Laursen graduated from the Svendborg International Maritime Academy in Denmark as a marine engineer and has since completed several executive and leadership development programs.

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of December 31, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

Photo - https://mma.prnewswire.com/media/1998780/Palle_Laursen.jpg
Logo - https://mma.prnewswire.com/media/1213007/RCG_Logo.jpg

Click Here for More Information »

MIAMI, Dec. 19, 2022 /PRNewswire-HISPANIC PR WIRE/ — Royal Caribbean Group (NYSE: RCL) announced today that it has entered into a new partnership with iCON Infrastructure Partners VI, L.P. (”iCON VI”)¹, a fund advised by iCON Infrastructure LLP (”iCON Infrastructure” or “iCON”) to develop strategic cruise port infrastructure in support of Royal Caribbean Group’s robust growth plans.

Access to destinations continues to be of strategic importance to Royal Caribbean Group’s core business. The proposed partnership will own, develop, and manage cruise terminal facilities and infrastructure in home ports and key ports of call. The partnership, which will be owned 90% by iCON VI and 10% by Royal Caribbean Group, will be managed by an independent management team with strategic support from Royal Caribbean Group. Both parties have committed to provide funding for future expansion in accordance with their percentage interest.

“Our partnership with iCON is a unique opportunity to catapult us into the coming decades of port investments, build further financial strength, and provide exceptional cruising experiences, responsibly, to our guests at the best destinations in the world,” said Jason Liberty, president and CEO, Royal Caribbean Group. “Over the last few years, we have developed more destinations than any other cruise company and this new partnership will allow us to implement a capital-light investment framework to accelerate the development of strategic destinations around the world. We selected iCON because of our shared strategic priorities – delivering the best experiences in the world, responsibly – and our shared commitment to sustainability, being a committed partner in each of the destinations we visit and exploring the very best locations around the world.”

iCON is a leading independent investment group with a focus on investing in high-quality infrastructure assets located predominantly in North America and Europe, with extensive experience investing in ports and port-related infrastructure.

The new partnership will initially include PortMiami Terminal A, and several development projects in Italy, Spain, and the U.S. Virgin Islands. The partnership will also pursue additional port infrastructure developments based on the robust pipeline of projects as part of Royal Caribbean Group’s destination development strategy. At closing (anticipated for the first quarter of 2023), Royal Caribbean Group expects to receive net cash proceeds of approximately $210 million. The partnership is expected to be accretive to earnings, ROIC, and leverage metrics and will allow Royal Caribbean Group to continue investing in the development of strategic infrastructure while supporting the goals of its Trifecta program.

“We are thrilled to be partnering with Royal Caribbean Group to develop, own and manage a portfolio of cruise terminals in key strategic markets,” said Iain Macleod, Managing Partner at iCON. “Through this partnership, we will provide world class cruise terminal infrastructure, offering cruise guests more opportunities to see and experience the world in partnership with the Royal Caribbean Group, a world class operator. In the years to come, we look forward to delivering new high-quality terminals, working closely with key destination communities and with a strong focus on sustainability.”

BofA Securities is serving as exclusive financial advisor to Royal Caribbean Group.

About Royal Caribbean Group:

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of September 30, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

About iCON:

iCON is the exclusive advisor to funds with cumulative commitments in excess of $8bn. iCON VI, iCON’s latest flagship fund, closed fundraising in June 2022 with $3.6bn of capital committed from over 50  investors. Investors in iCON’s funds comprise globally recognized corporate and public pension funds, asset managers, insurance companies and sovereign wealth funds.

iCON is a long-term investor with an extensive track record of partnering alongside strategic counterparties that share a similar focus on growth, operational excellence and sustainability. iCON advised funds invest across a range of infrastructure sectors including ports, transport, telecommunications, healthcare, water, energy generation, distribution and storage. Learn more at www.iconinfrastructure.com.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this press release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited, to: statements regarding the impact of the Partnership on our financial performance, projections and balance sheet. Words such as “anticipate,” “believe,” “could,” “driving,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “will,” “would,” “considering,” and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of the global incidence and continued spread of COVID-19, which has had and may continue to have a material adverse impact on our business, liquidity and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: governmental and self-imposed travel restrictions and guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business including the conflict between Ukraine and Russia, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; our COVID-19 protocols and any other health protocols we may develop in response to infectious diseases may be costly and less effective than we expect in reducing the risk of infection and spread of such disease on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; an increase in concern about the risk of illness on our ships or when travelling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in U.S. foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the impact of foreign currency exchange rates, the impact of higher interest rate and fuel prices; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs related to cyber security attacks, data breaches, protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations (including environmental regulations) or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as we are not incorporated in the United States.

More information about factors that could affect our operating results is included under the caption “Risk Factors” in our most recent current report on Form 10-Q, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Selected Definitions

Trifecta refers to the multi-year Adjusted EBITDA per APCD, Adjusted EPS and ROIC goals we publicly announced in November 2022 and are seeking to achieve by the end of 2025. We designed this program to help us better execute and achieve our business goals by clearly articulating longer-term financial objectives. Under the Trifecta Program, we are targeting Adjusted EBITDA per APCD of at least $100, Adjusted EPS of at least $10, and ROIC of 13% or higher by the end of 2025.

Adjusted EBITDA is a non-GAAP measure that represents EBITDA (as defined below) excluding certain items that we believe adjusting for is meaningful when assessing our profitability on a comparative basis. Refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations within Item 2 of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 for a discussion of items adjusted to arrive at Adjusted EBITDA.

Adjusted Earnings (Loss) per Share (”Adjusted EPS”) is a non-GAAP measure that represents Adjusted Net Income (Loss) (as defined below) divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis.

Adjusted Net Income (Loss) is a non-GAAP measure that represents net income (loss) excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. Refer to Management’s Discussion and Analysis of Financial Condition and Results of Operations within Item 2 of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022, and within Item 7 of our Annual Report on Form 10-K for the year ended December 31, 2021 for a discussion of items adjusted to arrive at Adjusted Net Income (Loss).

Adjusted Operating Income (Loss) is a non-GAAP measure that represents operating income (loss) including income (loss) from equity investments and income taxes but excluding certain items that we believe adjusting for is meaningful when assessing our operating performance on a comparative basis. Refer to Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2022 for a discussion of items adjusted to arrive at Adjusted Operating Income (Loss). We use this non-GAAP measure to calculate ROIC (as defined below).

Available Passenger Cruise Days (”APCD”) is our measurement of capacity and represents double occupancy per cabin multiplied by the number of cruise days for the period, which excludes canceled cruise days and cabins not available for sale. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary.

EBITDA is a non-GAAP measure that represents net income (loss) excluding (i) interest income; (ii) interest expense, net of interest capitalized; (iii) depreciation and amortization expenses; and (iv) income tax benefit or expense. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis.

Invested Capital represents the most recent five-quarter average of total debt (i.e., Current portion of long-term debt plus Long-term debt) plus Total shareholders’ equity. We use this measure to calculate ROIC (as defined below).

Return on Invested Capital (”ROIC”) represents Adjusted Operating Income (Loss) divided by Invested Capital. We believe ROIC is a meaningful measure because it quantifies how efficiently we generated operating income relative to the capital we have invested in the business. ROIC is also used as a key metric in our long-term incentive compensation program for our executive officers.

¹ iCON Infrastructure Partners VI (”iCON VI”) comprises two parallel limited partnerships, iCON Infrastructure Partners VI, L.P. and iCON Infrastructure Partners VI-B, L.P. iCON Infrastructure Management VI Limited, the managing general partner of each of iCON Infrastructure Partners VI, L.P. and iCON Infrastructure Partners VI-B, L.P., is licensed by the Guernsey Financial Services Commission. iCON Infrastructure LLP (”iCON”), the investment advisor to the managing general partner, is regulated by the Financial Conduct Authority.

Logo - https://mma.prnewswire.com/media/1213007/RCG_Logo.jpg

Click Here for More Information »

Martinoli to assume senior advisor role to Royal Caribbean Group President and CEO Jason Liberty, after building Silversea Cruises into the world’s leading ultra-luxury cruise line

MIAMI, Dec. 15, 2022 /PRNewswire-HISPANIC PR WIRE/ — Silversea Cruises President and CEO Roberto Martinoli has elevated the brand into the industry’s leading ultra-luxury cruise line. On January 1, 2023, Martinoli will assume the role of senior advisor to Royal Caribbean Group (NYSE: RCL) President and CEO Jason Liberty. Barbara Muckermann, currently Chief Commercial Officer, will become Silversea’s next president and CEO, and will join Royal Caribbean Group’s Executive Committee.

“Roberto has built Silversea Cruises into the category leader that it is today, 11 ships strong with more on the way,” said Jason Liberty, president and CEO of Royal Caribbean Group. “He is one of the most innovative and knowledgeable leaders in the maritime industry. As senior advisor, Roberto will continue to provide strategic guidance that further cements Royal Caribbean Group’s status as a leader in the travel and hospitality industry. Barbara is the ideal executive to succeed Roberto. Her global perspective and team-first leadership style are a recipe for success for both the Silversea Cruises brand and Royal Caribbean Group.”

Under Martinoli’s leadership since 2016, Silversea’s fleet has grown to include 11 ships. In summer 2023, it will welcome Silver Nova, the first hybrid luxury cruise ship utilizing fuel cells and emitting zero harmful emissions while in port, an industry first. In 2024, Silversea welcomes Silver Ray, the second ship in the Nova Class. Martinoli also led the acquisition in 2022 of Silver Endeavour to help enable the company to access both polar regions. The ultra-luxury cruise line now sails to over 900 destinations across all seven continents each year, more than any other cruise line.

Muckermann brings more than 25 years of experience in the travel and hospitality industry, with an emphasis on creating truly exclusive high-end vacations. She first joined Silversea Cruises in 2001, and held several roles at other luxury and cruise brands from 2005 to 2016 before returning. In her current post as Silversea’s Chief Commercial Officer, she oversees all aspects of sales, marketing, revenue management and guest relations, as well as strategic communications and brand and product strategy. Muckermann is a Doctor in Political Sciences and Economics, and holds a joint MBA from London Business School and Columbia University.

“This is an exciting moment for Silversea as we continue to add new ships and return to the Asia market,” Muckermann said. “I am thrilled to build on our achievements under Roberto and focus on growth in the years ahead.”

Muckermann becomes the second woman to lead one of Royal Caribbean Group’s three wholly-owned brands, and joins Celebrity Cruises President and CEO Lisa Lutoff-Perlo, and Royal Caribbean International President and CEO Michael Bayley. She will oversee all of Silversea’s employees and crew, and will report to Jason Liberty.

For more information on Royal Caribbean Group’s executive leadership, please visit https://www.royalcaribbeangroup.com/about/

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of September 30, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

Silversea Cruises is recognized as an innovator in the ultra-luxury cruise industry, offering guests large-ship amenities aboard its intimate, all-suite vessels: Silver Dawn℠, Silver Shadow℠, Silver Whisper®, Silver Spirit®, Silver Muse®, and Silver Moon℠ – all designed to offer an atmosphere of conviviality and casual elegance. With the inclusion of the expedition ships Silver Endeavour℠, Silver Origin®, Silver Wind®, Silver Explorer®, and Silver Cloud®, Silversea’s itineraries encompass all seven continents and feature worldwide luxury cruises to the Mediterranean, the Caribbean, the Galápagos, both Polar Regions, and hundreds of fascinating destinations in between. Silversea is also looking forward to the launch of two new ultra-luxury Nova-class ships—Silver Nova℠ and Silver Ray℠. Silversea Cruises is one of five cruise brands owned by global cruise company Royal Caribbean Group (NYSE: RCL).

Click Here for More Information »

TURKU, Finland, Dec. 14, 2022 /PRNewswire-HISPANIC PR WIRE/ — Today, Royal Caribbean Group (NYSE: RCL) announced it has signed a maritime declaration with the Finnish government, represented by the Ministry of Economic Affairs and Employment (MEAE) and Meyer Turku Oy, to chart the way forward for innovative and sustainable shipbuilding in Finland. The commitment is set to advance innovation, strengthen competitiveness and bolster the maritime industry’s ecosystem.

“Our partners in Finland have helped us deliver some of the world’s most impressive and sustainable ships of their time, including our newest ship debuting in January 2024, Icon of the Seas,” said Jason Liberty, president and CEO of Royal Caribbean Group. “This new partnership sets the stage for future innovations and allows us and the maritime industry to continue pursuing sustainability at the highest level.”

The declaration announces the following actions:

• Preparing a roadmap for the production of climate-neutral ships in Finland. The roadmap is part of the maritime industry’s green transition.
• Strengthening the innovation of Meyer Turku, Royal Caribbean Group and the maritime industry.
• Supporting networking to curb economic challenges, develop new solutions and secure the long-term viability of the maritime industry.
• Assembling a digital demonstration of a climate-neutral ship as part of the sustainable maritime industry development program of the Ministry of Labor and Economy.
• Strengthening the innovation of Meyer Turku, Royal Caribbean Group and the maritime industry.
• Piloting and testing new innovations and technologies on Royal Caribbean Group ships.

This partnership also advances Royal Caribbean Group’s Destination Net Zero strategy to decarbonize its operations by 2050 and its near- and medium-term targets, including reducing carbon intensity by double digits by 2025 compared to 2019 and the introduction of a net-zero cruise ship by 2035.

The declaration comes on the heels of another major milestone for Royal Caribbean. On Friday, Dec. 9, the revolutionary, new vacation, Icon of the Seas, reached its next phase of construction ahead of its iconic January 2024 debut. The new ship floated on water for the first time since the assembly began nine months ago at Meyer Turku shipyard in Turku, Finland. Icon will join the company’s Royal Caribbean International cruise line and its lineup of industry-leading ships, becoming the brand’s most sustainable ship to date and the crown jewel of shipbuilding in the Finnish maritime industry.

“The Finnish maritime ecosystem is built on the innovativeness, expertise and skills of the thousands of leading shipbuilders at Meyer Turku, and Icon of the Seas is the latest example of what can be built here in Finland,” said Mika Lintilä, Finland’s Ministry of Economic Affairs. ”This new declaration will secure a future in which the maritime industry continues to make strides in our decarbonization goals and economic growth priorities for years to come.”

The company also has agreements with the shipyard to build the unnamed second and third ships in the Icon Class for its Royal Caribbean International brand, and Mein Schiff 7, which is currently under construction for the company’s TUI Cruises brand.

“While expertise and interdisciplinary collaboration will always be key to the success of shipbuilding, we recognize the need to continuously evolve and create strategies to reduce carbon emissions toward net zero,” said Tim Meyer, CEO, Meyer Turku Oy. “This commitment will set us up, as an industry, to innovate and adapt in how we design, build and operate ships. This challenge presents significant opportunities for the Finnish maritime industry to take the lead globally and bring to market new technologies and products.”

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of June 30, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

The Meyer Turku Oy shipyard is specialized in the construction of very demanding, innovative, and environmentally efficient cruise ships, car ferries, and special vessels. Our share of the global cruise construction market is approximately 15%, and our shipyard’s order books extend to 2026. Our largest customers are Royal Caribbean International, Carnival Cruise Lines, TUI Cruises and the Finnish Border Guard.

Meyer Turku employs 2.000 top professionals and operates the Turku shipyard where vessels are built since 1373. Meyer Turku’s subsidiaries are Piikkiö Works Oy, a cabin factory located in Piikkiö, Shipbuilding Completion Oy, which offers complete deliveries to public spaces, and ENG’nD Oy, a shipbuilding and offshore design company based in Rauma.

Together with the German shipyards, Meyer Werft in Papenburg, and Neptun Werft in Rostock, Meyer Turku forms the Meyer Group, one of world’s leading cruise ship builders.

Logo - https://mma.prnewswire.com/media/1213007/RCG_Logo.jpg

MIAMI, July 18, 2022 /PRNewswire-HISPANIC PR WIRE/ – Royal Caribbean Group (NYSE: RCL) today announced it has received court approval to acquire the ultra-luxury cruise ship Endeavor. Originally delivered to Crystal Cruises in 2021, the ship will be renamed Silver Endeavour when it officially joins the Group’s wholly owned subsidiary, Silversea Cruises’ fleet, this month.

The purchase price for the vessel was $275 million, significantly below the cost of construction. The vessel was fully financed through a 15-year unsecured term loan, guaranteed by the German export credit agency, Euler Hermes, with no amortization payments in the first two years. The acquisition is expected to be immediately accretive to earnings, cash flow and ROIC.

“With Endeavour, we are seeking to grow our world class fleet to meet the exceptional demand for ultra-luxury expedition cruising, while also enhancing our profitability profile and affirming Silversea’s position as the industry’s leading ultra-luxury and expedition cruise line,” said Jason Liberty, president and CEO, Royal Caribbean Group.

Built to PC6 polar class specifications, the ship can operate all of Silversea’s current expedition itineraries and is designed specifically to take travelers to the world’s most remote destinations, including both polar regions.

“The expedition cruising industry is poised to resume accelerated growth driven by demand among high-end, affluent customers for travel to remote and hard-to-access destinations,” said Roberto Martinoli, president and CEO, Silversea Cruises. “This ship will be the fourth vessel to join Silversea’s fleet since 2020, which demonstrates our commitment to growth.”

Silver Endeavour offers the highest standards in the industry in terms of space-per-guest ratio, and crew-to-guest ratio, as well as top-notch accommodations and public areas. The ship’s state-of-the-art expedition amenities offer guests some of the most immersive and luxury experiences available, including traveling with a fleet of zodiac boats for remote exploration.

“Delivering the best vacations in the world, responsibly, is Royal Caribbean Group’s purpose,” Liberty said. “While our acquisition only covers the physical vessel, we want all of our guests to know we go above and beyond to take care of them.”

As part of the ongoing RCL Cares program, Royal Caribbean Group will protect the deposits of guests who were originally booked on Crystal Endeavor and make a new booking on one of the Group’s global brands – Royal Caribbean International, Celebrity Cruises and Silversea Cruises.

“We believe those Crystal guests will receive back their deposits, but we want to give them added assurance,” Liberty added.

To the extent the Crystal Endeavor guests do not receive their deposits back from Crystal or other sources, the Royal Caribbean Group will refund any amount paid on their new booking up to the amount of their lost deposits from Crystal. Complete terms of the offer will be provided on each brand’s website soon.

Silver Endeavour is scheduled to begin service winter 2022/2023, spending its inaugural season in Antarctica starting November 2022.

About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 63 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 10 ships on order as of June 30, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the company’s expectations and projections regarding growth in the expedition cruising industry, customer demand, and profitability. Forward-looking statements reflect management’s current expectations and are subject to risks, uncertainties and other factors that could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Factors that could affect our results include, among others, those discussed under the caption “Risk Factors” in our most recent quarterly report on Form 10-Q, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Logo - https://mma.prnewswire.com/media/1213007/RCG_Logo.jpg

Silversea Cruises’ ‘Project Evolution’ to be First Cruise Ship to Use Fuel Cells to Provide 100% of Power While at Port

MIAMI, Oct. 22, 2021 /PRNewswire-HISPANIC PR WIRE/ — The cruise industry’s first hybrid powered ship is set to debut summer 2023 as part of Royal Caribbean Group’s (NYSE: RCL) ultra-luxury brand Silversea Cruises. The new class of ships, known as ‘Project Evolution,’ will operate using a trio of power sources including a fuel cell system, battery technology and dual fuel engines using liquefied natural gas (LNG) as the main fuel. This hybrid solution, using fuel cell technology, allows the ship to be free of local emissions while at port — another industry first.

“Silversea’s newest ship class is a significant leap forward in our commitment to sustainable ship design and our journey to reduce our environmental footprint,” said Richard Fain, Chairman and CEO, Royal Caribbean Group. “We first announced our fuel cell ambitions several years ago. Through dedication and perseverance, we are now proud to introduce the first ship with large-scale fuel cell technology capable of achieving emission-free port operations.”

“Incorporating fuel cells into our ships now is one example of how Royal Caribbean Group is preparing to use new technologies as we move to a non-carbon-based future,” Fain continued. “This pioneering approach builds on our spirit of innovation.”

The new hybrid technology not only helps in port, but also allows Project Evolution to achieve a 40% overall reduction in its greenhouse gas emissions per double occupancy when compared to the brand’s previous class of ships. The ship class is also projected to achieve an Energy Efficiency Design Index (EEDI) rating approximately 25% better than applicable International Maritime Organization (IMO) requirements.

“Being at the forefront of sustainable shipping design and innovation is a testament to our team’s drive for continuous improvement,” said Roberto Martinoli, President and CEO, Silversea Cruises. “These advancements support our desire to showcase the world to our guests and to do so in a mindful and environmentally responsible way.”

Royal Caribbean Group is already known for a robust portfolio of technologies enhancing energy efficiency, waste treatment, and water management. This steady progress remains rooted in the company’s mantra of continuous improvement. It will drive The Group’s future as alternative, non-carbon-based solutions become available to support its overall decarbonization journey.

Project Evolution’s full suite of initiatives, developed in partnership with Meyer Werft Shipyard, will bring energy efficiency to a new level and will include both first-of-its-kind initiatives and successful features previously introduced such as:

• Fuel Cell System – this hydrogen-based technology will supplement the main power supply and carry the ship’s total hotel load — up to four megawatts — the first large-scale fuel-cell installation at sea in the cruise industry.
• LNG (Liquid Natural Gas) – a cleaner burning fuel, LNG-fueled propulsion systems emit less CO2 and 97% fewer particulates than normal fuel oil used on ships.
• Battery – a bank of batteries supports optimizing the overall ship power system, saving fuel.
• Waste to Energy – newly developed Micro Auto Gasification System (MAGS) reduces onboard waste volume, resulting in lower incineration emissions.
• Progress to Carbon Neutral Construction – in partnership with Meyer Werft Shipyard, Project Evolution is thoughtfully designed and built taking into consideration the carbon footprint of ship construction and creating a path to overall reduction.

For more than 30 years Royal Caribbean Group has invested in its commitment to sustainability. In partnership with World Wildlife Fund (WWF) in 2016, the company set specific, ambitious and measurable 2020 sustainability targets to reduce its environmental footprint, increase sustainable tourism, respect coastal communities and cultural heritage, and support WWF’s global ocean conservation work.

In addition, the company continues to advocate for sustainable practices globally, including collaborating with the United Nation’s High-Level Panel for a Sustainable Ocean Economy and committing to deliver on the promise of the Paris Agreement through partnership with the We Are Still In coalition.

To learn more about Royal Caribbean Group’s sustainability efforts, visit https://sustainability.rclcorporate.com/.

About Royal Caribbean Group

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 60 ships traveling to more than 800 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 13 ships on order as of June 30, 2021. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

About Silversea Cruises
Part of the Royal Caribbean Group, Silversea Cruises is recognized as an innovator in the ultra-luxury cruise industry, offering guests large-ship amenities aboard its intimate, all-suite vessels: Silver Shadow, Silver Whisper, Silver Spirit, Silver Muse and Silver Moon – all designed to offer an atmosphere of conviviality and casual elegance. With the inclusion of the expedition ships Silver Origin, Silver Wind, Silver Explorer, and Silver Cloud, Silversea’s itineraries encompass all seven continents and feature worldwide luxury cruises to the Mediterranean, the Caribbean, the Galapagos, both Polar Regions, and hundreds of fascinating destinations in between. Silversea is also looking forward to the launch of three new ultra-luxury ships: Silver Dawn and two Evolution-class ships. Browse Silversea’s blog, Discover, and subscribe to receive the latest content directly into your inbox.

Forward-Looking Statements

Certain statements in this press release constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the company’s expectations, estimates, forecasts and projections regarding environmental, social and governance (ESG) initiatives and the company’s ability to achieve its ESG goals. Forward-looking statements reflect management’s current expectations and are subject to risks, uncertainties and other factors that could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Factors that could affect our results include, among others, the cost and availability of alternative fuels and changes in expected ship itineraries, as well as those factors discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Photo - https://mma.prnewswire.com/media/1667817/Royal_Caribbean_Group_Project_Evolution.jpg

MIAMI, Sept. 22, 2021 /PRNewswire-HISPANIC PR WIRE/ — Today Royal Caribbean Group (NYSE: RCL) published its 13th annual sustainability report, providing a comprehensive update on the company’s sustainability efforts. In particular, the 2020 report documents that the company has met or exceeded nearly all of its 2020 sustainability targets.

“We believe that what gets measured gets better. Sustainability is a core area for our business, and this report reflects our successes and challenges over the past year,” said Richard Fain, Chairman and CEO, Royal Caribbean Group. “While I’m proud of the progress we have achieved, the importance of this area has grown exponentially. Consistent with our mantra of continuous improvement, we have significantly expanded our aspirations in this critical area and are setting even more aggressive goals for the coming years.”

The report is organized into four main sections conveying Royal Caribbean Group’s strategic approach to sustainability, from emissions reductions to supporting employees and crew in the wake of the COVID-19 pandemic. This year’s report also includes the latest Materiality Assessment as well as additional disclosures in line with the Sustainability Accounting Standards Board (SASB) reporting metrics.

“We are living in an era of profound and interconnected changes, which call for bold and positive action. Our ESG work and goals are focused on ensuring we play a leadership role in contributing to a healthy and thriving workplace, society and environment,” said Silvia M. Garrigo, Chief Environmental, Social and Governance (ESG) Officer, Royal Caribbean Group.

In 2016, in partnership with World Wildlife Fund (WWF), the company set specific, ambitious and measurable 2020 sustainability targets to reduce its environmental footprint, increase sustainable tourism, respect for coastal communities and cultural heritage, and support WWF’s global ocean conservation work. As of this year, Royal Caribbean Group has met or exceeded all of its 2020 goals, with the exception of the sustainable seafood sourcing target, which was impacted by global suspension of service from the pandemic.

The company is working to develop a new set of targets around the reduction of carbon emissions, the sustainable growth and development of our business, sustainable commodity sourcing and tourism, the elimination of single-use plastics, and waste management.

Highlights from the Report
Throughout the pandemic, Royal Caribbean Group continued to address several key issues important to stakeholders, including:

• Emissions reduction: Royal Caribbean Group achieved its carbon reduction target of 35% and has committed to further reduce emissions 25% by 2025.
  • Royal Caribbean Group’s wind farm project in Kansas, developed in partnership with Southern Power, began operations and generated approximately 242,000 tons of CO2 offsets. It is expected that the wind farm will offset up to 12% of the company’s global emissions each year.
  • Celebrity Apex joined the fleet with shore power connectivity and with an energy efficiency standard (EEDI) 39% more efficient than the current International Maritime Organization (IMO) requirement.
  • Our next class of ships, Icon-Class, expected to launch in 2023, will use cleaner-burning liquefied natural gas and fuel cell technology, which reduces ship emissions.
• Sustainable sourcing: The company has a commitment to source 90% of wild-caught seafood and 75% of farmed seafood, served on Royal Caribbean Group ships from certified sustainable sources, afirst for the cruise industry.
  • While the global suspension of service delayed this goal, as cruise operations resume, Royal Caribbean Group remains committed to tracing back to its origin the sustainable seafood served across the company’s fleet.
  • Additionally, the company is constantly working to identify sustainable products, from cage-free eggs to humanely raised pork.
• Circular economy: The company is working to achieve zero waste across the Royal Caribbean Group fleet.
  • Today, 100% of the company’s fleet is equipped to be landfill-free. Only 0.50 pounds of waste are sent to landfill per passenger each day — 80% less than the U.S. average on shore.
  • Whenever possible, the waste on Royal Caribbean Group ships is reused, recycled or converted to energy.
  • The company has removed 60% of single-use plastics from its supply chain.
• Water and wastewater: Royal Caribbean Group ships work to ensure fresh water on their ships is used sparingly and efficiently.
  • 90% of fresh water is produced on board its ships in order to not deplete local resources.
  • On average, only 66 gallons of water per person per day are used, compared with the U.S. average of 100 gallons per person.
  • Each ship is equipped with a water treatment plant. Advanced wastewater purification systems are designed to be twice as stringent as U.S. federal standards, with a company policy of no untreated waste released into the ocean.

To view Royal Caribbean Group’s 2020 sustainability report and learn more about the company’s efforts, click here.

About Royal Caribbean Group
Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 60 ships traveling to more than 800 destinations around the world. Royal Caribbean Group is the owner and operator of three award-winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 13 ships on order as of June 30, 2021. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com.

Forward-Looking Statements
Certain statements in this press release constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the company’s expectations, estimates, forecasts and projections regarding environmental, social and governance (ESG) initiatives and the company’s ability to achieve its ESG goals. Forward-looking statements reflect management’s current expectations and are subject to risks, uncertainties and other factors that could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Factors that could affect our results include, among others, those discussed under the caption “Risk Factors” in our most recent annual report on Form 10-K, as well as our other filings with the SEC, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Photo - https://mma.prnewswire.com/media/1631375/Sustainability_Highlights_2020_Report.jpg