CONFIRMED: Cruise1st up for sale

External sale or management buyout – both cards are on the table as the cruise agency eyes expansion.

Royal Caribbean Cruises wholly owned agency Cruise1st is on the market with “a number” of buyers already circling, Travel Weekly can confirm.

The news first broke in the UK with Travel Weekly reporting the agency was up for sale, and according to a statement released by Cruise1st in the UK, it is “exploring the possibility” of an external sale and also strongly considering a management buyout.

The Manchester-based agency, which is a trading division of Sunshine Cruise Holidays, employs more than 100 staff globally and has operations in the region, with an office in Australia and Singapore led by travel industry stalwart, Carl Frier.

Frier, general manager Asia Pacific, spoke with Travel Weekly this morning to confirm the company was on the market, but added that it had been for a period of time, and that “offers actually needed to be made by last week,” but due to the sale now being in an open forum, they expect “additional interest” from other potential buyers.

On trend with the global cruise boom, Frier said the sale came at an opportune time.

“The business has some opportunities ahead of it so the executive team looked at the best way to move forward and that includes both external and internal possibilities,” Frier told Travel Weekly.

“This will allow us to increase the speed at which we want to expand. We anticipate growth.”

Asked when a deal could be struck, Frier quipped, “How long is a piece of string?”

Frier declined to comment which regions were being targeted as part of the group’s expansion plans.

However, Frier confirmed Asia Pacific operations continue to run “business as usual” and that the team were “excited” about the company’s future.

While Cruise1st office in Singapore is still in its “infancy” according to Frier having opened just 15 months ago, he said business was going “very well” and was “tracking to plan” with already having a need to double staffing numbers.

Reports out of the UK puts Cruise1st booking numbers growth at 83% in the past 4 years alone.

Cruise1st opened in 2000 and became wholly owned by Royal Caribbean Cruises in 2008.

Royal Caribbean could not be reached for comment at the time of publishing.

Image credit: devildinosaur & traveltrends

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Carl Frier cruise Cruise1st