Royal Caribbean Cruises Ltd. to Sell Celebrity Century to Ctrip - WFXG FOX54 Augusta - Your News One Hour Earlier

Royal Caribbean Cruises Ltd. to Sell Celebrity Century to Ctrip

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SOURCE Royal Caribbean Cruises Ltd.

MIAMI, Sept. 2, 2014 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) announced today that it has entered into an agreement to sell its cruise ship Celebrity Century to Exquisite Marine Ltd., a holding company led by Ctrip.com International Ltd. (NASDAQ: CTRP).  The sale will result in a non-cash loss of approximately $20 million dollars.  This loss will be excluded from our adjusted net income in our third quarter results. Royal Caribbean Cruises Ltd. will continue to operate Celebrity Century until April 2015.

"Since its inaugural sailing, Celebrity Century has created many wonderful memories for hundreds of thousands of guests, and we expect this successful history to continue as she transitions to the Chinese cruise market," said Richard D. Fain, chairman and chief executive officer of Royal Caribbean Cruises Ltd.  "The vessel's sale is an excellent business opportunity for both Royal Caribbean and Ctrip, and will generate strong value for both companies' shareholders."

Celebrity Century will complete its scheduled sailings through the March 22, 2015, itinerary. The 15-night, Dubai to Rome sailing on April 5, 2015 is being redeployed to a 14-night sailing from Dubai to Singapore. Guests with affected individual bookings and named group bookings on Celebrity Century's April 5, 2015 sailing from Dubai to Rome have the option to either cancel their booking and receive a full refund or move to an alternative sailing and receive a re-accommodation onboard credit as well as compensation to cover air change fees. Guests with reservations affected by the transition will be proactively contacted by Celebrity Cruises. Guests and Travel Agents with specific questions are welcome to call 1-888-283-7275.

Celebrity Century joined the Celebrity Cruises fleet in December 1995, and was built by Meyer Werft in Papenburg, Germany. The 71,545-ton ship carries 1,814 guests (double occupancy) and 860 crew.

Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) is a global cruise vacation company that owns Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisieres de France, as well as TUI Cruises through a 50 percent joint venture.  Together, these six brands operate a combined total of 41 ships with an additional 8 under construction contracts.  They operate diverse itineraries around the world that call on approximately 490 destinations on all seven continents. Additional information can be found on www.royalcaribbean.com, www.celebritycruises.com, www.pullmantur.es, www.azamaraclubcruises.comwww.cdfcroisieresdefrance.com or www.rclinvestor.com.  

Ctrip.com International, Ltd. is a leading travel service provider of accommodation reservation, transportation ticketing, packaged tours, and corporate travel management in China. Ctrip aggregates accommodation and transportation information to enable business and leisure travelers to make informed and cost-effective bookings. Ctrip also helps customers book vacation packages and guided tours. In addition, Ctrip corporate travel management services help corporate clients effectively manage their travel requirements. Since its inception in 1999, Ctrip has experienced substantial growth and become one of the best-known travel brands in China.

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