United Kingdom
United States
Asia Pacific
Carnival gets personal in P&O Princess fight
Carnival has refused to go quietly following the rejection of its offer by P&O Princess earlier this week.
Yesterday Carnival chairman and chief executive Micky Arison attacked the performance of P&O’s preferred merger partner Royal Caribbean Cruises.
Mr Arison said: “P&O Princess shareholders should closely examine the deliverability of the value claims of the Royal Caribbean Proposal. Since Royal Caribbean has historically under performed, is there any reason why they will improve in the future?
“We have consistently outperformed Royal Caribbean by a wide margin, whatever our size and whatever the market conditions. It’s not size that creates superior operating margins — it’s management talent and proven operating practices.”
Carnival also attacked Royal Caribbean chairman and chief executive Richard Fain, claiming that since his appointment in November 1998 “the performance of Royal Caribbean has been significantly worse than that of Carnival.”
The Carnival boss again called on P&O Princess shareholders to reconsider the proposed merger with Royal Caribbean in favour of a Carnival tie-up. It claimed it can deliver better value to shareholders because it has a better management track record, resulting in higher shareholder returns; a more effective brand strategy; a proven record of delivering greater profitability and superior performance; and a significantly stronger balance sheet.
It said that a combination of Carnival and P&O Princess could deliver cost savings of at least $100 million a year.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
Abercrombie & Kent hails $500 million funding boost
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Gatwick braces for strike
Co-pilot faints, easyJet flight issues ‘red alert’