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TUI and Royal Caribbean forge German partnership
TUI AG is creating a joint venture cruise company for the German market with Royal Caribbean Cruises.
New company TUI Cruises will start with one ship in 2009, expanding with two new vessels in 2011 and 2012.
Both partner will hold a 50% interest in the joint venture. Sales and marketing activities will kick-off in spring 2008.
The new cruise line will be based in Hamburg. The first ship, as yet unnamed, will be renovated to meet the needs of German-speaking passengers.
The move follows a similar deal between Carnival Corporation and TUI breaking down. But Carnival has AIDA Cruises dedicated to the German market.
Royal Caribbean chairman and CEo Richard Fain said: “The alliance greatly enhances our global strategy. It also aligns us with TUI AG, the most powerful brand in European tourism.”
TUI AG CEo Michael Frenzel said: “By collaborating with Royal Caribbean, we gain access to a very profitable growth market a year earlier than we had envisioned.”
by Phil Davies
Phil Davies
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