royal-caribbean-to-buy-endeavor-cruise-ship-at-‘significantly-below’-construction-cost

Royal Caribbean to buy Endeavor cruise ship at ‘significantly below’ construction cost

Published: July 18, 2022 at 8:14 a.m. ET

Shares of Royal Caribbean Group hiked up 2.7% in premarket trading Monday, after the cruise operator said it received court approval to buy the “ultra-luxury” cruise ship Endeavor for $275 million. The company said the purchase was being made “significantly below” the cost of construction, with the purchase fully financed through a 15-year term loan. The ship, which was originally delivered to Crystal Cruises in 2021, will be renamed Silver Endeavour when it officially joins the fleet of Royal Caribbean’s Silversea Cruises this month. “The expedition cruising industry is poised to resume accelerated growth driven by…

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