Princess Cruises Announces Pacific Princess to Leave the Fleet

Rhea-AI Summary

Princess Cruises announced the sale of the Pacific Princess to an undisclosed buyer, aligning with parent company Carnival Corporation's strategy to enhance operational efficiency by removing less effective ships from its fleet. The Pacific Princess, which joined in 2002 and served over 1.6 million nautical miles, held sentimental value for many guests. Princess Cruises assures guests with existing bookings will receive alternatives or refunds. This decision reflects the ongoing adjustments within the cruise industry as demand evolves.

Positive

• Sale of Pacific Princess aligns with Carnival's efficiency strategy.
• Pacific Princess had a strong operational history, sailing over 1.6 million nautical miles.

Negative

• Sale indicates potential challenges in maintaining an efficient fleet amid evolving market demands.

SANTA CLARITA, Calif., Jan. 21, 2021 /PRNewswire/ -- Princess Cruises, the world's leading international premium cruise line, today announced the sale of Pacific Princess to an undisclosed buyer. The sale of the cruise ship is in line with parent company Carnival Corporation's plan to accelerate the removal of less efficient ships from its fleet.

Pacific Princess first joined the cruise line's fleet in 2002, and originally entered service in 1999 as R3 for Renaissance Cruises. The boutique-style ship offered an intimate cruising environment, with a total of just 670 passengers, but incorporated many of the dining and entertainment options available on the cruise line's larger cruise vessels.

Beloved by many loyal Princess guests, Pacific Princess sailed more than 1.6 Million nautical miles, 11 World Cruises and offered distinctive itineraries to sought-after destinations all over the world. In fact, The Love Boat's "Captain Stubing" and Princess Cruises Ambassador Gavin MacLeod was on the ship's navigation bridge as the ship sailed under the Golden Gate Bridge for the first time to kick off the inaugural season sailing to Alaska from San Francisco in May 2003.

"Pacific Princess holds so many memories and cherished experiences to all who sailed upon her," said Jan Swartz, Princess Cruises president. "Pacific Princess offered a traditional style of cruising to unique destinations. While it's difficult to say goodbye to our 'Love Boat,' our World Cruise and exotic itineraries continue onboard our Medallion Class-enabled Island Princess and Coral Princess, featuring the best Wi-Fi at sea, allowing guests to keep in touch with loved ones and share vacation memories along the way."

Another historic moment for Pacific Princess was sailing a throwback cruise, recreating the cruise line's very first itinerary to the iconic Mexican Riviera in celebration of the 50^th anniversary of Princess Cruises on December 3, 2015. Attending this special cruise included the cast of "The Love Boat," - Gavin MacLeod (Captain Stubing), Fred Grandy (Gopher, the chief purser), Ted Lange (Isaac, the bartender), Bernie Kopell (Doc, the ship's doctor), Lauren Tewes (cruise director, Julie) and Jill Whelan (Vicki, the captain's daughter). Together with the guests, they celebrated the role the show played in Princess Cruises' five-decade-long history introducing the cruise line – and cruise vacations – to millions of people around the world.

Guests with bookings will be notified, and along with their travel advisors, will receive information on how to book another Princess Cruise when operations resume. Guests who prefer a refund will be accommodated.

About Princess Cruises: 
One of the best-known names in cruising, Princess Cruises is the world's leading international premium cruise line and tour company operating a fleet of 14 modern cruise ships, carrying two million guests each year to 380 destinations around the globe, including the Caribbean, Alaska, Panama Canal, Mexican Riviera, Europe, South America, Australia/New Zealand, the South Pacific, Hawaii, Asia, Canada/New England, Antarctica and World Cruises. A team of professional destination experts have curated 170 itineraries, ranging in length from three to 111 days and Princess Cruises is continuously recognized as "Best Cruise Line for Itineraries."  In 2017 Princess Cruises, with parent company Carnival Corporation, introduced MedallionClass Vacations enabled by the OceanMedallion, the vacation industry's most advanced wearable device, provided free to each guest sailing on a MedallionClass ship. The award-winning innovation offers the fastest way to an effortless personalized vacation giving guests more time to do the things they love most. The company is part of Carnival Corporation & plc (NYSE/LSE: CCL; NYSE:CUK).   

 

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SOURCE Princess Cruises

FAQ

What does the sale of Pacific Princess mean for CCL and CUK stock?

The sale aligns with Carnival Corporation's strategy to enhance fleet efficiency, which may positively influence its stock performance.

Why was Pacific Princess sold by Princess Cruises?

The sale was to remove less efficient ships and streamline operations as part of Carnival Corporation's strategy.

When did Pacific Princess first join Princess Cruises?

Pacific Princess joined the fleet in 2002, originally entering service in 1999.

What options do guests have after the sale of Pacific Princess?

Guests will receive notifications and can either rebook another Princess cruise or receive a refund.