Ctrip and Royal Caribbean join forces

Chinese online travel giant Ctrip.com has detailed its acquisition of a third cruiseship. Ctrip is buying Royal Caribbean Cruises’ Celebrity Century and will take over management of the ship through a new joint venture company with Royal Caribbean to target Chinese consumers.

The new venture will “manage the operations of the acquired cruise ship and potentially broaden the relationship”, Ctrip said in a release.

“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 CEO of Royal Caribbean Cruises. “The vessel’s sale is an excellent business opportunity for both Royal Caribbean and Ctrip, and will generate strong value for both companies’ shareholders.”

Min Fan, vice chairman of the board and president of Ctrip, commented: “China is becoming one of the largest cruise markets in the world…As the largest cruise agency in China, Ctrip has sent over 120,000 guests to cruise trips so far and acquired more than 10 per cent of market share in China.”

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