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Royal Caribbean unveils plans for Chinese joint venture

Royal Caribbean Cruises expects to start operating a joint venture cruise line targeting Chinese holidaymakers by next summer.


The new line – SkySea Cruises – will initially operate one ship, with the potential for more to be added.


Sales and marketing support for the cruises have started as part of the deal between Royal Caribbean and Chinese online travel giant Ctrip.com.


Royal Caribbean and Ctrip will each own 35% of the new company, with the balance being owned by SkySea management and a private equity fund.


Richard Fain, chairman and chief executive officer of Royal Caribbean, said: “We look forward to working with Ctrip, a Chinese travel leader, to build a national cruise line for China.


“SkySea Cruises represents an important strategic milestone in our expansion efforts in the Chinese market.”


SkySea Cruises chairman and CEO Min Fan said: “Our partnership with Royal Caribbean Cruises will allow us to bring the very best cruise vacations tailor-made for Chinese travellers.


“We expect SkySea cruises to be an integral part of China’s fast growing cruise market.”


The move follows Royal Caribbean rival Carnival Corporation unveiling plans on Friday to build its first ships in China, which is expected to become the world’s largest cruise market after 2020.

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