DALLAS, July 31, 2025 /PRNewswire-HISPANIC PR WIRE/ – Safe Harbor announces expansion into the Mediterranean with the acquisition of Monaco Marine, adding to its unmatched global boating and service network.

“The Monaco Marine team cares deeply about providing exceptional service in some of the world’s most iconic yachting destinations,” said Baxter Underwood, CEO of Safe Harbor Marinas. “We are thrilled to be able to serve captains, crews, and owners in places like Saint Tropez, Antibes, and Monaco.”

Monaco Marine includes nine locations in the South of France and Monaco that provide slips, storage, and service for vessels and superyachts up to 90 meters.

Driven by a culture of excellence and sustainability, Monaco Marine has earned the confidence of yacht owners, captains, and shipbuilders worldwide.

With the addition of Monaco Marine, Safe Harbor now owns and operates 149 marinas and shipyards in the world’s most desirable waterfront destinations.

About Monaco Marine

Founded in 1995 in Monaco by Michel Ducros, Monaco Marine is a leading network in the Mediterranean, offering services ranging from maintenance to complete refits for pleasure boats from 10 to 90 meters.

For more, please visit https://www.monacomarine.com

About Safe Harbor Marinas

Safe Harbor is the largest owner and operator of marinas in the world. The company provides exceptional service and memorable experiences for the global boating community.

For more, please visit https://shmarinas.com

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]]> https://caribpr.com/now-serving-the-mediterranean-safe-harbor-welcomes-monaco-marine/feed/ 0 https://caribpr.com/the-results-are-in-royal-caribbean-selects-its-next-cohort-of-local-artists-to-feature-on-star-of-the-seas/ https://caribpr.com/the-results-are-in-royal-caribbean-selects-its-next-cohort-of-local-artists-to-feature-on-star-of-the-seas/#comments Thu, 29 May 2025 14:54:34 +0000 caribpr https://caribpr.com/?p=16151

The Artist Discovery Program will showcase the locally inspired artworks of Caribbean artists on the ultimate family vacation

MIAMI, May 29, 2025 /PRNewswire-HISPANIC PR WIRE/ — Celebrating the culture and people at the heart of the Caribbean destinations the vacation brand visits, Royal Caribbean has chosen its encore cohort of up-and-coming artists for the Artist Discovery Program. As part of the program, the selected artists will put their work on display for families and vacationers who will set sail on the ultimate family vacation, Star of the Seas.

Representing countries across the Eastern and Western Caribbean, artists from the Dominican Republic, Jamaica, Trinidad and Tobago and Haiti were selected during the second round of the program. Each artist will receive a grant amount between $20,000 and $100,000 to conceptualize and create a custom, large-scale mural that represents the local culture, experience and spirit of their home country. The artworks will be displayed across four highly visible locations on the Icon Class vacation, including the Royal Promenade neighborhood, Star’sembarkation area, the Suite Sun Deck lobby and Suite Sun Deck.

“We are excited about the overwhelming positive response we received from the next edition of the Artist Discovery Program,” said Jay Schneider, chief product innovation officer, Royal Caribbean. “Collaborating with the places we visit is at the heart of what we do and who we are at Royal Caribbean. Whether its hosting guest roundtables or hiring locals from our destinations around the world, it’s important to us to collaborate and connect with the communities we operate in. This year’s selection is special, and we’re thrilled about the vibrant, beautiful and cultural murals that’ll be on Star of the Seas for years to come.”

Over several months, the vacation brand reviewed nearly 180 applications from across 28 Caribbean countries. Candidates were required to submit unpublished conceptual artwork, a professional resume and a personal statement expressing how their artistic passions, life experiences, cultures and future aspirations inspire their artwork.

The Artist Discovery Program aims to spotlight up-and-coming local artists in the Caribbean by providing a platform for them to showcase their artwork and increase visibility while celebrating the places and people that make Royal Caribbean vacations the vacations of a lifetime. The program was first introduced on Icon of the Seas and has since been a well-received and highly anticipated initiative both on board and at the vacation brand’s exclusive destinations, including Perfect Day at CocoCay and Royal Beach Club Paradise Island, set to debut December 2025 in The Bahamas.

About the Artists

• Nestor Omar Garcia ‘Angurria’ from the Dominican Republic: From the moment vacationers step on Star, Garcia’s mural will light up the embarkation area, leaving guests with the ultimate first impression. Garcia’s art represents a fusion of his Dominican roots, bold color choices, and tales of his region to create energetic and relatable pieces.
• Anthony Smith o/c Taoszen from Jamaica: Smith’s mural will be at the heartbeat of the soon-to-debut Star of the Seas in the Royal Promenade neighborhood. Through his art, Smith strives to connect communities, promote understanding and positive change. His previous works combine striking imagery, nature and vibrant colors to showcase the world’s complex themes in nuanced ways.
• Saegel Bascombe from Trinidad and Tobago: Located in the luxurious escape of the Suite Sun Deck lobby, Bascombe’s art will further illuminate the vibes of this private oasis. Ignited by a beautiful fusion of eclectic colors and patterns, Bascombe’s artistry celebrates themes from her homeland, while personifying the colors in the pieces.

Returning to showcase his unique work across the revolutionary Icon Class, Haitian artist Philippe Dodard will create a mosaic piece that evokes his home island’s rich history on the Suite Sun Deck on Star.

Debuting August in Port Canaveral (Orlando), Florida, Star will deliver more of the best of every vacation introduced by Icon with new twists and signature favorites. Across eight neighborhoods that are destinations in themselves, there are ways for families and vacationers of all ages to make memories with a lineup of thrills, unrivaled chill and more than 40+ ways to dine, drink and be entertained. The adventurers continue with island hopping on 7-night vacations to Eastern or Western Caribbean destinations, including the vacation brand’s top-rated exclusive destination at Perfect Day at CocoCay in The Bahamas. More details about Star are available on Royal Caribbean’s website.

About Royal Caribbean


Royal Caribbean
Royal Caribbean, part of Royal Caribbean Group (NYSE: RCL), has delivered memorable vacations for more than 50 years. The cruise line’s game-changing ships and exclusive destinations revolutionize vacations with innovations and an all-encompassing combination of experiences, from thrills to dining and entertainment, for every type of family and vacationer. Voted “Best Cruise Line Overall” for 22 consecutive years in the Travel Weekly Readers Choice Awards, Royal Caribbean makes memories with adventurers across more than 300 destinations in 80 countries on all seven continents, including the line’s top-rated exclusive destination, Perfect Day at CocoCay in The Bahamas.

Media can stay up to date by following @RoyalCaribPR on X and visiting www.RoyalCaribbeanPressCenter.com. For additional information or to book, vacationers can visit www.RoyalCaribbean.com, call (800) ROYAL-CARIBBEAN or contact their travel advisor.

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]]> https://caribpr.com/the-results-are-in-royal-caribbean-selects-its-next-cohort-of-local-artists-to-feature-on-star-of-the-seas/feed/ 0 https://caribpr.com/royal-caribbean-expands-dynamic-artist-discovery-program-to-the-bahamas/ https://caribpr.com/royal-caribbean-expands-dynamic-artist-discovery-program-to-the-bahamas/#comments Wed, 05 Mar 2025 16:36:18 +0000 caribpr https://caribpr.com/?p=15997 The search is on for musicians, performers, visual artists and sculptors to showcase their talent on Royal Beach Club Paradise Island

NASSAU, The Bahamas, March 5, 2025 /PRNewswire-HISPANIC PR WIRE/ — Royal Caribbean has announced the expansion of its Artist Discovery Program from ship to shore, giving Bahamian artists—musicians, performers, visual artists, and sculptors—the opportunity to bring to life the region’s vibrant culture through curated collections and performances. This next edition of the program will offer guests visiting the Royal Beach Club Paradise Island more ways to encounter the beauty of The Bahamas while enjoying the ultimate beach day.

“The Artist Discovery Program will ensure we authentically reflect The Bahamas’ enduring creativity and essence at our Royal Beach Club,” said Philip Simon, President, Royal Caribbean Bahamas. “We are excited to give our guests a deeper and immersive taste of The Bahamas by embedding local art at the center of the ultimate vacation experience.”

Opportunities for artists include large-scale murals, dynamic dance performances, live music and expressive sculptures, each reflecting the vibrancy of The Bahamas. Artists will be prominently featured throughout the beach club, inviting guests to explore and celebrate Bahamian culture. Royal Beach Club Paradise Island will be designed to offer an immersive experience of Bahamian art through designated “art districts.” The districts will introduce guests to Bahamian traditions, highlighting natural wonders, festivities and serene beauty.

Both individual and teams of artists living in The Bahamas are invited to apply for consideration with mural, sculpture, musical or performance submissions. Submissions must be completed by March 28, 2025. Applicants must send five work samples, a CV and an artist statement to RBCPIArtistDiscoveryProgram@rccl.com to be considered.

The first round of selections will be announced in April, and the final selections will be revealed in May. Final selections will be installed at the Royal Beach Club Paradise Island by July 2025, with a grand unveiling in December 2025.

The first of the Royal Beach Club Collection continues to take shape in the coming months ahead of its opening in December 2025, and at the heart of the experience will be the island nation of The Bahamas. From the idyllic location to the Bahamian food, culture, and staff, and a unique public-private partnership with The Bahamas, the all-new beach club combines the beauty and spirit of The Bahamas with signature Royal Caribbean touches across the experience, service and design.

Additional information on the Artist Discovery Program can be found here.

About Royal Caribbean International
Royal Caribbean International, part of Royal Caribbean Group (NYSE: RCL), has delivered memorable vacations for more than 50 years. The cruise line’s game-changing ships and private destinations revolutionize vacations with innovations and an all-encompassing combination of experiences, from thrills to dining and entertainment, for every type of family and vacationer. Voted “Best Cruise Line Overall” for 22 consecutive years in the Travel Weekly Readers Choice Awards, Royal Caribbean makes memories with adventurers across more than 300 destinations in 80 countries on all seven continents, including the line’s top-rated private destination, Perfect Day at CocoCay in The Bahamas.

Media can stay up to date by following @RoyalCaribPR on X and visit www.RoyalCaribbeanPressCenter.com. For additional information or to book, vacationers can visit www.RoyalCaribbean.com, call (800) ROYAL-CARIBBEAN or contact their travel advisor.

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“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.

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First Up in the “Artist Discovery Program” Will be a Spotlight on Local Caribbean Artists

MIAMI, March 10, 2023 /PRNewswire-HISPANIC PR WIRE/ — Royal Caribbean International has launched a search for iconic artistry to bring the Caribbean spirit to life on the iconic canvas that is the world’s best family vacation, Icon of the Seas. In the new “Artist Discovery Program,“ up-and-coming artists from destinations the cruise line visits can vie to put their work on display for millions of vacationers who will set sail for years to come. The program’s purpose is to infuse every region’s spirit and culture into the curated art collections on board ships, in order to highlight and celebrate the very destinations and their people at the heart of Royal Caribbean’s memorable vacations. Beginning in the Caribbean, local artists can send their submissions starting today and through April 4 here.

“The Artist Discovery Program is a project close to our hearts at Royal Caribbean International because the destinations we visit are family. And it’s only fitting that we begin our search for up-and-coming artists who are in the Caribbean; it’s where we got our start more than 50 years ago,” said Michael Bayley, president and CEO, Royal Caribbean International. “Vacationers want to immerse themselves in the places they visit. This is a way to spotlight the beauty of the local cultures and people in the places they see and enjoy every day on their cruise, beginning with large-scale canvases on a first-of-its-kind adventure – Icon of the Seas.”

The first group of budding artists, making up the Artist Discovery Program: Caribbean Edition, will be commissioned to paint nine large-scale murals in three highly visible locations: the Royal Promenade neighborhood, the heartbeat of the new ship; among the first sights guests see at Icon’s main entrance; and within the Suite Neighborhood. Each piece will invoke the vibrancy of the Caribbean, joining the collection on board that will include an array of pieces created by Caribbean artists or inspired by the region.

Every artist will receive a grant from the cruise line, ranging from $20,000 to more than $100,000, to see their vision through. Later this year, as artists in residence, the winners will work closely with the Newbuilding team behind Royal Caribbean’s renowned ships to bring their concepts to life in Turku, Finland, where Icon is under construction.

To vie for a spot in the first edition of Artist Discovery Program, artists must submit the following:

• Five samples of conceptual work: The work must be original and may not currently be published or on display.
• A brief artist statement that helps explain their work, inspiration and other details regarding the pieces submitted.
• A copy of their resume.

Icon is the first-of-its-kind combination of the best of every vacation. From the beach retreat to the resort escape and the theme park adventure, the brand-new getaway delivers every kind of family and vacationers their version of the ultimate family adventure. In store is an all-encompassing lineup of firsts and next-level favorites across eight neighborhoods. Between the adrenaline-pumping thrills at the new Thrill Island neighborhood and unrivaled ways to chill at neighborhoods like the new Chill Island and the luxurious four-level Suite Neighborhood, adventurers bonding with their families or getting away with friends will have all the ways to stay and play their way.

The first Icon Class ship will sail year-round, 7-night Eastern and Western Caribbean vacations from Miami. Every cruise will visit Royal Caribbean’s top-rated private island destination, Perfect Day at CocoCay in The Bahamas, and a mix of destinations like Cozumel, Mexico; Philipsburg, St. Maarten; and Basseterre, St. Kitts. More details about Icon are available at www.RoyalCaribbean.com/Icon.

Future editions of the Artist Discovery Program will be announced at a future date. Additional information on the program can be found here.

About Royal Caribbean International
Royal Caribbean International, owned by Royal Caribbean Group (NYSE: RCL), has been delivering innovation at sea for more than 50 years. Each successive class of ships is an architectural marvel that features the latest technology and guest experiences for today’s adventurous traveler. The cruise line continues to revolutionize vacations with itineraries to 240 destinations in 61 countries on six continents, including Royal Caribbean’s private island destination in The Bahamas, Perfect Day at CocoCay, the first in the Perfect Day Island Collection. Royal Caribbean has also been voted “Best Cruise Line Overall” for 20 consecutive years in the Travel Weekly Readers Choice Awards.

Media can stay up to date by following @RoyalCaribPR on Twitter and visiting RoyalCaribbeanPressCenter.com. For additional information or to make reservations, vacationers can call their travel advisor; visit RoyalCaribbean.com; or call (800) ROYAL-CARIBBEAN.

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Photo - https://mma.prnewswire.com/media/2030685/Royal_Caribbean_deck.jpg ]]> https://caribpr.com/calling-up-and-coming-artists-royal-caribbean-launches-art-program-to-debut-on-icon-of-the-seas/feed/ 0 https://caribpr.com/costa-group-and-proman-join-forces-towards-decarbonisation-of-the-cruise-industry/ https://caribpr.com/costa-group-and-proman-join-forces-towards-decarbonisation-of-the-cruise-industry/#comments Thu, 16 Feb 2023 11:56:30 +0000 caribpr http://caribpr.com/?p=15123 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

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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.

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]]> https://caribpr.com/royal-caribbean-group-names-palle-laursen-executive-vice-president-head-of-marine/feed/ 0 https://caribpr.com/royal-caribbean-group-forms-a-strategic-partnership-with-icon-infrastructure-to-launch-new-chapter-of-destination-development/ https://caribpr.com/royal-caribbean-group-forms-a-strategic-partnership-with-icon-infrastructure-to-launch-new-chapter-of-destination-development/#comments Mon, 19 Dec 2022 15:13:04 +0000 caribpr http://caribpr.com/?p=15095 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.

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