MIAMI, Nov. 16 /PRNewswire-FirstCall/ -- In an effort to deal with the
sharp increase in fuel prices, Royal Caribbean Cruises Ltd. today announced
the implementation of a fuel supplement of $5 per guest per day for sailings
that depart on or after February 1, 2008.
"I thank our guests for understanding our need to implement this fuel
supplement," said Brian Rice, executive vice president and chief financial
officer of Royal Caribbean Cruises Ltd. "We have gone to great lengths to
minimize the impact of rising fuel costs, for example, designing and building
more fuel-efficient ships, installing energy-saving lighting, and using air
conditioning more efficiently. Unfortunately, as fuel prices have reached
record highs, we are forced to take this extraordinary step to offset those
The company has taken measures to soften the impact of this decision. For
example, the company will not apply the supplement on any bookings where the
guest has already paid the full cost of the cruise. In addition, guests who
were booked before November 16, and who do not agree to pay the supplement,
may cancel their reservation prior to December 7, 2007, for a full refund of
all monies they have paid to the company, and they will not be subject to any
cancellation charges that would normally apply. Those guests who do not
cancel their reservation and pay in full will receive one logo item per
stateroom, onboard their cruise. Finally, the supplement will apply only to
the first and second guests in each stateroom and will not exceed $70 per
person, per sailing.
The supplement will assist the company in offsetting the widespread
increases in fuel prices, which have more than doubled in recent years. The
supplement will be periodically reviewed, with the intent of being temporary,
and may be adjusted as fuel prices fluctuate.
The company will provide travel agents with an administrative fee of $12
per existing booking to help offset the costs associated with contacting
guests with existing reservations and collecting payment of the supplement for
each booking that sails on or after February 1, 2008.
The charge will involve three Royal Caribbean Cruises Ltd. brands: Royal
Caribbean International, Celebrity Cruises and Azamara Cruises. Pullmantur
Cruises, the Madrid-based, wholly-owned subsidiary of Royal Caribbean Cruise
Ltd, has also implemented a fuel supplement of (euro) 50 for its tours and
cruises that depart on or after January 1, 2008.
"We know the rising cost of fuel has affected everyone, and,
unfortunately, our company is no different," Rice said. "We hope the options
we are providing, including additional time for guests to finalize vacation
plans, will underscore our commitment to our guests."
The supplement is effective for new and existing North American bookings.
The company cannot predict the impact of the fuel supplement on its earnings,
as it does not know the number of new or existing bookings that will accept
the proposed supplement.
Royal Caribbean Cruises Ltd. is a global cruise vacation company that
operates Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara
Cruises and CDF Croisieres de France. The company has a combined total of 35
ships in service and seven under construction. It also offers unique land-
tour vacations in Alaska, Asia, Australia, Canada, Europe, Latin and South
America and New Zealand. Additional information can be found on
www.royalcaribbean.com, www.celebrity.com. www.pullmantur.es,
www.azamaracruises.com, or www.rclinvestor.com.
SOURCE Royal Caribbean Cruises Ltd.
CONTACT: Lynn Martenstein or Michael Sheehan, both of Royal Caribbean
Cruises Ltd., +1-305-539-6572
Web site: http://www.royalcaribbean.com