The Royal Caribbean cruise conglomerate has dropped the phrase “cruises” from its identify because the trade takes a beating from the coronavirus pandemic.
The Miami-based journey firm introduced Thursday that it modified its identify from Royal Caribbean Cruises to Royal Caribbean Group. Chairman and CEO Richard Fain referred to as it a “less complicated, more energizing and extra fashionable” moniker for an entity that encompasses half a dozen manufacturers, together with the eponymous Royal Caribbean Worldwide.
“It’s additionally extra descriptive — Royal Caribbean Group feels like a guardian firm identify, reflective of our development and evolution since we final up to date our id greater than 20 years in the past,” Fain mentioned in a assertion.
The names of Royal Caribbean’s cruise strains — which additionally embody Movie star Cruises, Silversea, Azamara, TUI Cruises and Hapag-Lloyd Cruises — haven’t modified, however they’re “now proud members of Royal Caribbean Group,” the corporate mentioned.
Royal Caribbean Group quietly began utilizing its new identify in press releases again in March, across the time it first suspended its giant passenger ships due to the COVID-19 pandemic. The corporate has since introduced plans to maintain its boats docked via at the least Sept. 30 because the virus continued to unfold.
Royal Caribbean reported a internet lack of $1.four billion for the primary quarter of this yr because the pandemic roiled the trade, which ferries individuals to trip spots by boat. Crowding on cruise ships make them dangerous settings for spreading the lethal illness, based on the Facilities for Illness Management and Prevention.
The company recorded 99 COVID-19 outbreaks on cruise ships from March 1 via July 10, main to almost 3,000 infections and 34 deaths.
Royal Caribbean shares have been down about 1.6 % at $50.19 as of 12:27 p.m. Thursday.