Last updated: 12:09 PM ET, Mon March 02 2015

Royal Caribbean Cruises Ltd. to Sell Splendour of the Seas in 2016

Cruise Line & Cruise Ship | Royal Caribbean Cruises Ltd. | Patrick Clarke | March 02, 2015

Royal Caribbean Cruises Ltd. to Sell Splendour of the Seas in 2016

Royal Caribbean Cruises Ltd. announced on Monday that it's agreed to sell its Splendour of the Seas cruise ship to Germany-based subsidiary TUI Cruises in the second quarter of 2016.

After the exchange, the ship will be leased to and operated by British cruise line Thomson Cruises.

In the meantime, no scheduled sailings aboard Splendour of the Seas will be impacted by the announced agreement.

"Splendour of the Seas debuted in 1996 and has served Royal Caribbean International extremely well," said Royal Caribbean Cruises Ltd. chairman and CEO Richard D. Fain in a statement. "The ship's sale is in line with our strategic objective of divesting ourselves of older hardware and keeps us firmly on the course to the Double-Double."

Double-Double refers to an initiative started by the cruise line in 2014 that aims to double earnings per share and return on invested capital by the year 2017.

The Vision-class ship will set out for its final sailing under Royal Caribbean on April 4, 2016. 

"Splendour of the Seas has been a treasured member of the Royal Caribbean International family since she entered service," said Royal Caribbean International president and CEO Michael Bayley.

"She has offered countless guests memorable vacation experiences and we look forward to continuing to provide the same Gold Anchor Service our brand is known for right up to the last sailing," Bayley added.

The ship's officers and crew will remain with Royal Caribbean after the sale and will transferred to other Royal Caribbean International vessels.

A nearly 70,000-ton ship carrying 1,800-plus guests and more than 700 crew members, Splendour of the Seas joined the Royal Caribbean International fleet nearly two decades ago and features itineraries focused along the coast of Europe and South America.

The ship was constructed in France by STX France, then known as Chantier's de L'Atlantique. 

In addition to boasting five new dining options and more than 120 new balcony staterooms, Splendour of the Seas features a plethora of amenities, including an indoor/outdoor pool, a rock climbing wall, mini golf, a poolside movie screen and a spa as well as countless windows.

Royal Caribbean Cruises Ltd. owns 50 percent of TUI Cruises through a joint venture with Germany's TUI Group, which owns Thomson Holidays, the operator of Thomson Cruises.


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