Royal Caribbean Group has entered into a definitive agreement to sell the Azamara brand to Sycamore Partners, a private equity firm specialising in consumer, retail and distribution investments.

Royal Caribbean Group has acquired the remaining shares of Silversea Cruises two years after it purchased a two-third stake in the ultra-luxury cruise company.

The Silversea Australia team was delighted to welcome Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises Ltd. during his inaugural visit to Silversea’s Sydney office on Wednesday this week. Fain used the opportunity to speak with the local Silversea team.

Royal Caribbean Cruises with Silversea Cruises has announced an enhancement program for the ultra-luxury line. Dubbed Project Invictus, the multi-year initiative will take Silversea’s offerings to the next level. Project Invictus enhancements range from product upgrades to magnified ship revitalisation programs.

“Silversea is a crown jewel, and the acknowledged leader in luxury and expedition cruising, two key markets that are poised for growth,” said Richard D. Fain, Chairman and CEO of Royal Caribbean Cruises Ltd. “Uniting our two companies presents an extraordinary opportunity to expand vacation options for guests and create revenue in strategic growth areas.” Fain added: “We are proud to welcome aboard Manfredi Lefebvre, a visionary leader whose high standards and history of innovation we deeply respect. Manfredi will remain Executive Chairman of Silversea, continuing to lead its strategy long term.”