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Royal Caribbean swoops for Spanish operator
Royal Caribbean Cruises is paying 430 million euros for Spanish cruise and tour operator Pullmantur.
The US cruise giant is also taking on the Madrid-based company’s 270 million euros in net debt.
Pullmantur claims to be the largest cruise oeprator in Spain with five ships operating in Europe and Latin America. Its tour operations sell packages mainly to the Caribbean and inbound to Europe from Latin America.
The Spanish company was formed in 1971 and has 2,600 staff.
It will become Royal Caribbean’s first wholly-owned European brand, although the cruise company runs Island Cruises as a joint venture with First Choice.
Pullmantur will have to withdraw all tours to Cuba as part of the conditions of the takeover by the US company.
Royal Caribbean chairman and chief executive Richard Fain said: “Pullmantur offers a terrific stragetic opportunity for Royal Caribbean to further grow our presence in the European and Latin American markets in a major and tangible way.
“We have made significant inroads into these regions through our Royal Caribbean International and Celebrity Cruises brands, and this combination will allow us to accelerate our growth in these markets.
“Pullmantur will remain an independent brand under the Royal Caribbean umbrella.”
Pullmantur general manager Alfonso Lopez Perez said: “This is an excellent opportunity to align ourselves with one of the world’s largest and most successful companies in the travelo industry.”
Royal Caribbean has been increasingly tapping into the Spanish market by basing ships in Barcelona for summer Medtierranean cruises, including Voyager of the Seas.
Report by Phil Davies
Phil Davies
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