Royal Caribbean has announced a significant infrastructure expansion that will see it own and build cruise terminals.
The cruise giant has signed a partnership with a fund advised by UK investment group iCON Infrastructure. It will cover the development of strategic cruise port infrastructure.
The new entity will, ultimately, build, develop, own and manage cruise terminal facilities in key ports for Royal Caribbean. However, the cruise giant will only own 10% of the partnership, with iCON’s investment fund owning 90%.
“Our partnership with iCON is a unique opportunity to catapult us into the coming decades of port investments, build further financial strength, and provide exceptional cruising experiences, responsibly, to our guests at the best destinations in the world,” said Jason Liberty, president and CEO, Royal Caribbean Group.
“Over the last few years, we have developed more destinations than any other cruise company and this new partnership will allow us to implement a capital-light investment framework to accelerate the development of strategic destinations around the world. We selected iCON because of our shared strategic priorities – delivering the best experiences in the world, responsibly – and our shared commitment to sustainability, being a committed partner in each of the destinations we visit and exploring the very best locations around the world.”
