Alaska Native Corporation Goldbelt Inc. Signs Agreement with Royal Caribbean Group to Build a Cruise Port in Juneau, Alaska

Rhea-AI Summary

Goldbelt Inc., an Alaska Native , has partnered with Royal Caribbean Group (NYSE: RCL) to develop a new cruise port in Juneau, Alaska. The port, planned for Douglas Island, aims to showcase Tlingit culture and reduce downtown traffic congestion by nearly one-third. Key features include:

- Two floating berths overlooking the Chilkat Range
- A recreated 1800s Alaska Native Tlingit village
- Direct departures for whale-watching tours and Mendenhall Glacier visits
- Potential on-site employee housing
- Environmental advantages due to strategic location

The project, set for completion in the 2027 Alaska cruise season, is expected to support local economic development and improve the overall visitor and resident experience in Juneau.

Positive

• Partnership with Royal Caribbean Group (NYSE: RCL) for port development
• Potential reduction of downtown Juneau traffic congestion by nearly one-third
• Showcasing of Tlingit culture, potentially attracting more tourists
• Strategic location offering environmental advantages for cruise ships
• Projected completion by 2027 cruise season, indicating near-term revenue potential

Negative

• None.

Insights

Tourism Development Expert

<p>The partnership between Goldbelt Inc. and Royal Caribbean Group to develop a new cruise port in Juneau is a <b>significant development</b> for Alaska's tourism industry. This project addresses several key issues:</p><ul><li>Infrastructure improvement: The new port will strengthen Juneau's capacity to handle cruise traffic.</li><li>Traffic congestion reduction: By removing <percent>30%</percent> of bus traffic from congested areas, it will enhance both visitor and resident experiences.</li><li>Cultural preservation and promotion: The recreated 1800s Tlingit village will showcase local heritage, potentially increasing cultural tourism revenue.</li><li>Environmental considerations: The port's location may reduce fuel consumption for ships, aligning with growing eco-tourism trends.</li></ul><p>For Royal Caribbean, this represents a <b>strategic investment</b> in a key cruise market, potentially leading to increased market share and improved guest satisfaction in Alaska. The 2027 projected completion aligns with long-term growth strategies in the cruise industry's post-pandemic recovery phase.</p>

Financial Analyst

<p>This partnership signifies a <b>strategic expansion</b> for Royal Caribbean Group in the lucrative Alaska cruise market. While specific financial details are not disclosed, the investment implications are substantial:</p><ul><li>Long-term revenue growth: A dedicated port could increase Royal Caribbean's capacity and market share in Alaska.</li><li>Operational efficiencies: Reduced fuel consumption and optimized routes may lead to cost savings.</li><li>Differentiation: The unique cultural experience could command premium pricing.</li><li>Risk mitigation: Partnering with a local Alaska Native may provide political and operational advantages.</li></ul><p>Investors should note that while the project's 2027 completion date suggests a long-term payoff, it positions RCL for sustainable growth in a high-demand market. The company's willingness to invest in infrastructure and community relations demonstrates a commitment to responsible growth, which could positively impact its ESG profile and investor sentiment.</p>

New port plans to spotlight the region's rich Tlingit culture and remove nearly one-third of bus traffic from Juneau's most congested roadways, enhancing the overall guest and resident experience

JUNEAU, Alaska, Oct. 16, 2024 /PRNewswire/ -- Goldbelt Incorporated, the urban Alaska Native, for-profit corporation of Juneau, is partnering with Royal Caribbean Group (NYSE: RCL) to explore co-developing a new port aimed at strengthening the city's infrastructure while improving traffic congestion downtown and enhancing the local and visitor experience.

Situated on Alaska Native Claims Settlement Act land on Douglas Island, the port's preliminary designs have two floating berths overlooking the Chilkat Range. Visitors will be transported from a modern cruise ship to a recreated 1800s Alaska Native Tlingit village, where they will experience Goldbelt shareholders' ancestral history through stories, art, songs, dance, and traditional foods.

Designed to utilize the existing whale-watching tour operations, the project plans for guests to depart directly from West Douglas Island onto whale-watching tours or shuttle boats to Mendenhall Glacier to counter downtown traffic. This route will remove nearly one-third of the bus traffic from Juneau's most impacted roadways, from downtown Franklin Street to the Glacier Highway, enhancing the overall guest and resident experience, while also paying testament to Alaska Native culture.

"Goldbelt has long sought to establish a cruise terminal and destination centered around Tlingit history on the backside of Douglas Island," stated McHugh Pierre, President & CEO of Goldbelt, Inc. "We look forward to the prospect of bringing this sustainable, culture-rich cruise ship terminal to life in partnership with Royal Caribbean Group, providing community solutions to local transportation and economic development issues."

With positioning on the backside of Douglas Island, Goldbelt's port plan envisions support for on-site employee housing as well as serving as an economic driver for the second Juneau-Douglas crossing and Douglas Bench Road, which have been city priorities for more than a decade. Conveniently located directly in major shipping routes alongside Steven's Passage, the project blueprint would offer an environmental advantage, reducing time, speed, and fuel requirements for ships sailing north to Skagway or west to the Gulf of Alaska, making it the most ideal stop-over for routing to Sitka or Seward.

"We are thankful to Goldbelt Incorporated and to the Juneau community for the partnership to bring solution-oriented initiatives, such as this port, to life," said Preston Carnahan, AVP West Coast Destinations for Royal Caribbean Group. "We look forward to continuing to support Juneau as the cruise capital of Alaska by offering award-winning guest experiences through responsible destination management."

This is the second project in Juneau where Goldbelt and Royal Caribbean Group have partnered to benefit the community and guest experience. This recent cruise season, the two companies worked together to donate wireless internet equipment that provides public access to high-speed Starlink Wi-Fi, greatly reducing the impact on the residential network.

The agreement between Goldbelt and Royal Caribbean Group has named the Port of Tomorrow as developer alongside integrated design-builder Turnagain Marine. The facility is projected for completion during the 2027 Alaska cruise season.

About Goldbelt

Founded in 1973 and officially incorporated in 1974, Goldbelt Incorporated is the urban corporation that represents the Juneau area. Goldbelt is an Alaska Native Corporation with a deep connection to both our ancestors and our children – we remember the stories and traditions of the past, while working to build a bright future for our shareholders in Southeast Alaska and beyond.
For more information visit Goldbelt.com.

About Royal Caribbean Group

Royal Caribbean Group (NYSE: RCL) is a vacation industry leader with a global fleet of 68 ships across its five brands traveling to approximately 1,000 destinations. With a mission to deliver the best vacations responsibly, Royal Caribbean Group serves millions of guests each year through its portfolio of best-in-class brands, including Royal Caribbean International, Celebrity Cruises, and Silversea; and expanding portfolio of land-based vacation experiences through Perfect Day at CocoCay and Royal Beach Club collection. The company also owns 50% of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. With a rich history of innovating, Royal Caribbean Group continually delivers exciting new products and guest experiences that help shape the future of leisure travel. Learn more at royalcaribbeangroup.com or rclinvestor.com.

For more information on Royal Caribbean Group and its brands, visit royalcaribbeangroup.com.  

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SOURCE Goldbelt Inc.

FAQ

What is the new cruise port project in Juneau, Alaska involving Royal Caribbean (RCL)?

Goldbelt Inc. and Royal Caribbean Group (RCL) are partnering to develop a new cruise port on Douglas Island in Juneau, Alaska. The port will feature two floating berths, showcase Tlingit culture, and aim to reduce downtown traffic congestion.

When is the Royal Caribbean (RCL) Juneau port project expected to be completed?

The new cruise port project in Juneau, involving Royal Caribbean Group (RCL), is projected for completion during the 2027 Alaska cruise season.

How will the new Royal Caribbean (RCL) port in Juneau affect local traffic?

The new port is expected to remove nearly one-third of bus traffic from Juneau's most congested roadways, from downtown Franklin Street to the Glacier Highway, enhancing the overall guest and resident experience.

What cultural features will the new Royal Caribbean (RCL) port in Juneau include?

The port will feature a recreated 1800s Alaska Native Tlingit village, where visitors can experience Goldbelt shareholders' ancestral history through stories, art, songs, dance, and traditional foods.