Small-ship cruise line Azamara is sailing into a new future, at least once cruising is resumed. The luxury-level operation has been sold by Royal Caribbean to Sycamore Partners, a New York venture capital firm, and will add another ship to the three included in the deal.
While most of the big cruise operators have sold off or retired parts of their fleets during the pandemic, this is the first sale of an entire brand. The price was reported as $201 million. Sycamore has hired former Holland America chief Orlando Ashford to run the show.
Sycamore intends to keep the operation pretty much as it has been, catering to a luxury trade on its 700-passenger ships. Shortly after the sale announcement, Sycamore announced that it had acquired a fourth ship, Pacific Princess, sold off by Carnival Corp.
Pacific Princess, presumably under a new name, will join the Azamara fleet next year after being upgraded to Azamara-style luxury fittings, features and color schemes. It will be a reunion of sorts: All four of the ships are twins, half of a fleet of eight built around 2000 for Renaissance Cruises which went broke shortly after.
