Royal Caribbean launches destination development joint venture
Royal Caribbean Cruises has joined hands with ITM Group to form a new destination company joint venture.
The 50-50 partnership will work together on sustainable tourism developments in destinations the line serves.
The new entity is called Holistica.
The first project is the the $275 million regeneration of the Grand Lucayan resort in the Bahamas which has ‘ambitious plans for local ownership, employment, job training, community investment and sustainable construction,’ the companies said.
"The continuing growth and rising popularity of cruise vacations make it clear that the sustainable development of coastal destinations, including the thoughtful evolution of existing ones, is in the travel industry’s best interest," said Michael Bayley, president and CEO of Royal Caribbean International.
After the Bahamas project, the new venture plans to own and operate destinations in Costa Maya, Mexico, Roatan, Honduras; and Kumamoto in Japan.
Combined these destinations will serve about eight million visitors a year and will be accessible to guests of other cruise lines as well as independent non-cruisers.
"Having more destinations, and developing them in a responsible manner, gives travelers greater vacation quality, and expands the landscape of available travel options as the tourism industry grows," Bayley added.
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