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Same, same and win, win after sale of Azamara

January 25, 2021 Cruise News No Comments

According to a report in Cruise Industry News, the Chief Operating Officer of Azamara, Carol Cabezas, has explained the sale of Azamara to a private equity firm, Sycamore Partners, increased the value of the cruise line’s product and drives the brand forward, saying in a video on the brand’s official website, “Sycamore Partners, which has invested in many upscale consumer brands, is known for identifying great brands that need flexible funding to grow and succeed.”

She added, “Sycamore’s strategy is to partner with existing management to nurture companies for growth and invest in upscale companies”, and The priority is to increase the value of our product. So, it’s a win-win-win.”

This comes since Royal Caribbean Group announced it had entered into a definitive agreement to sell its Azamara brand to Sycamore Partners in an all-cash carve-out transaction for $201 million, “subject to certain adjustments and closing conditions”, with the sale is expected to close in the first quarter of 2021, Cabezas said, after the cruise line receives all the normal regulatory approvals.

According to Cabezas, nothing is currently expected to change for Azamara’s customers, saying, “There is no impact on your current bookings, future cruise credits, refunds or the availability of your travel advisor.” and “Also, our website and care center agents remain open for business, and I encourage you to start planning your next cruise with us,” before adding that that the entire team will stay with Azamara, including customer care staff and crew.

She said, “We commit to keeping the brand elements that make us Azamara, your brand of choice with immersive experiences that elevate vacation to lifestyle and superior service throughout the journey”, and “With Sycamore, we intend to rapidly expand these to offer more destinations and portfolio choices at every step along the way. We’re only going to get better”.

She also said in a statement that Azamara will adopt the same health and safety protocols as the Royal Caribbean Group, developed by a group of public health experts at the Healthy Sail Panel.

An edited report from Cruise Industry News by John Alwyn-Jones

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