In July 2020, Royal Caribbean Group acquired 100% of Silversea Cruises. Its acquisition was a process that began in July of 2018, at which point RCG took a 67% share of Silversea Cruises. That entry point was RCG’s springboard into the luxury cruise line market via Silversea’s preexisting fleet and successful enterprise. The newly injected economic vitality was welcome, given the cruise industry had been on pause due to the pandemic.
RCG knew exactly what it was doing. Leveraging the pause in cruises led RCG to be even more aggressive in closing the deal. The downtime allowed RCG to finance new ships, reinject vitality into ones already in development, and plan what’s next on the horizon.
In This Article…
What Is Silversea Cruises?
As a wholly owned subsidiary and the “jewel in the crown” of the Royal Caribbean Group, Silversea is known for its all-inclusive lifestyle, diversified destination portfolio, and the finest luxuries you could imagine on a cruise ship: from 24/7 on-demand sustainable caviar to butler services throughout each suite category to fine libations from around the world in concert with its 900+ destination travel portfolio.
Silversea owns and operates five ultra-luxury ships and six classic vessels. RCG’s new ownership helped generate three new ships since 2020: Silver Origin, Silver Dawn, and Silver Moon.
Royal Caribbean Group
RCG prides itself on an entrepreneurial spirit at sea. Ever dedicated to innovation and creative risk-taking, it offers a diverse array of programs, initiatives, and features to underscore its inimitable emphasis on the finest service.
Royal Caribbean Group fully owns three cruise brands, but also has joint ventures with two cruise brands in Europe.
- Silversea Cruises: The ultra-luxury cruise line launched in 1994 and officially became part of the Royal Caribbean Group in July 2018. The company then purchased all remaining shares to incorporate in July 2020 fully.
- Royal Caribbean International: This cruise line, the largest by revenue globally, has a comprehensive set of travel packages and several regular deals on its website, from North America, South America, Europe, and everywhere in between.
- Celebrity Cruises: From delectable and nearly infinitely varied fine dining to accouterments that provide peace of mind, Celebrity Cruise Line tops Travel and Leisure’s World’s Best 2022 Awards.
- TUI & Hapag Lloyd Cruises: These two German cruise lines are tailored to Europeans who want to commence their voyage in Europe and end up wherever their hearts may lead them. Royal Caribbean Group has a 50% ownership in the two cruise lines.
History of Royal Caribbean
Dating back to 1968, hospitality entrepreneur Ed Stephan and his esteemed colleagues Sigurd Skaugen, Gotaas Larsen, and Anders Wilhemsen – all Norwegian shipowners – synergized ideas and created a cruise line that would go to the Caribbean. The nod to royalty was emblematic of the service these gentlemen would provide their guests – uncompromisingly high standards.
The first ship in the Royal Caribbean Cruise Line was Song of Norway, which in 1970 commenced its voyage from Miami, setting sail for the Caribbean.
Song of Norway
Song of Norway was founded on sound principles of the then-cutting-edge technology of the Norwegian marine industry. The ship was also outfitted with the highest safety and security standards, and the designers ensured that the ships could disassemble into quick and easy evacuation.
The craftspeople who designed the ship also accounted for fuel economy and efficiency, quickly helping the Song of Norway to shape up to be in its own class of excellence in all arenas.
RCG in the Present and Future
Royal Caribbean Group has built upon those steadfast and sturdy principles which made its early ships titanic successes. It has continued providing innovation in safety, technology, hotel and dining entertainment, and a diversified travel portfolio for guests of all tastes.
Who is Silversea Cruises CEO?
The current Silversea President and CEO is Barbara Muckermann, who was promoted from Chief Commercial Officer starting in 2023. Muckermann has 25 years of experience in the travel industry and she first joined the luxury cruise brand in 2011.
Michael Bayley is the CEO and President of Royal Caribbean International, one of RCG’s foremost cruise lines. Former Silversea CEO Roberto Martinoli now oversees Project Invictus, an ambitious expansion plan for ultra-luxury expedition cruising.
Read Also: Who Owns Royal Caribbean – All You Need to Know
Royal Caribbean Group has an estimated market cap of $14.34 billion and a revenue of $1.53 billion. With 60 ships in its robust fleet, it is run by CEO and President Jason Liberty. He took over the reins from long-time Royal Caribbean leader Richard Fain, who stepped down in early 2022.
Does Royal Caribbean Group Have Stock?
RCG has a bountiful amount of stock, listed on the NYSE as Royal Caribbean Cruises Ltd./RCL. The price per share of stock has been slowly rising since July of 2022, which makes sense as this was when many pandemic restrictions were eased, if not lifted altogether.