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Published on Tuesday, June 25, 2019

Royal Caribbean to develop resorts around the world

Royal Caribbean is to develop resorts around the world in partnership with Mexican tourism and port development company ITM.

The two have created a 50-50 joint venture called Holistica to work on projects in destinations served by Royal Caribbean, the first of which will be the $275 million regeneration of the Grand Lucayan resort in the Bahams.

"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 resorts in Costa Maya, Mexico, Roatan, Honduras; and Kumamoto in Japan.

Combined these resorts 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 travellers greater vacation quality, and expands the landscape of available travel options as the tourism industry grows," Bayley added.

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