by Lacey Pfalz
Last updated: 10:32 AM ET, Mon December 19, 2022
Royal Caribbean Group has partnered with iCON Infrastructure Partners VI, an independent investment group, to develop cruise port infrastructure to aid the group's plan for future growth, aiming to own, develop and manage cruise terminal facilities in home ports and important ports of call.
The partnership includes Royal's 10 percent ownership of any ports bought, built or managed under the partnership and 90 percent for iCON VI. The partnership initially will include PortMiami Terminal A, as well as several development projects in destinations including the U.S. Virgin Islands, Italy and Spain.
"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," continued Liberty. "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."
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