Royal Caribbean, TUI planning joint cruise line venture in Germany

**Ally** · 12-10-2007, 04:01 AM

Quote:

Dec. 10 (Bloomberg) -- TUI AG and Royal Caribbean Cruises Ltd. plan a joint venture to serve the German cruise market.

The new company, TUI Cruises, will begin service with one ship in early 2009 and expand with two newly built vessels in 2011 and 2012, Hanover, Germany-based TUI and Miami-based Royal Caribbean said today in a statement.

Each partner will hold a 50 percent stake in the joint venture, which is still subject to regulatory and board approvals before completion, the companies said.

In September TUI and Miami-based Carnival Corp., the world's largest cruise ship company, abandoned an attempt to form a joint venture after the U.S. cruise operator said the ``regulatory environment'' in Germany was ``extremely difficult.''

``The situation now is completely different, as Royal Caribbean has been focusing so far on the U.S. market and isn't as much present in Europe as Carnival was,'' Robin Zimmermann, a spokesman for TUI, said in an interview. He declined to say how much TUI will invest in the venture.

The earlier plans with Carnival foresaw a TUI participation of not more than 25 percent in the joint venture. Operations were scheduled to start in 2010.

Revenue from cruises holidays rose almost 12 percent to 1.36 billion euros ($2 billion) from 2005 to 2006, according to figures provided by the German travel business association.

Bloomberg.com: Germany

Locarno · 12-11-2007, 06:53 AM

Hi,
TUI owns in UK THOMSON CRUISES and in Germany HAPAG LLOYD. As HL is a 5*+ operation it can be assuhed that the new ships will aim more at the mass market segment. I dont see the huge growth on the German market which the cruise lines seem to anticipate, thus deep discounts and many specials will be offered, a boon for the customers. interesting to see which vessel RCI has set aside for Germany.
happy cruising!
Locarno

**Ally** · 12-11-2007, 07:02 AM

I have a feeling it will be Majesty of the Seas that goes to the new venture. Her sisters Empress and Sovereign have already been earmarked for Pullmantur.

They have repositioned Monarch of the Seas, so Majesty is the only one not rehomed as yet.

**Ally** · 02-06-2008, 11:29 AM

Quote:

BRUSSELS (Thomson Financial) - The European Commission said its inquiry deadline for TUI AG's proposed joint venture with US-based Royal Caribbean Cruises Inc is set for March 12.

In December, TUI said the new company will serve the German cruise market and will begin service with one ship in early 2009, with another two new ships planned for 2011 and 2012.

Each company will hold a 50 pct stake in the joint venture.

No financial details were disclosed.

EU inquiry deadline for TUI, Royal Caribbean Cruises joint venture March 12 - Forbes.com