The luxury cruise segment has grown the most in the last three years.
Article from CruisesNews magazine no. 61 – June 2022.
Text: Arturo Paniagua.
The luxury cruise segment is one of the best positioned to grow after the pandemic, due to the existing demand after overcoming Covid-19, along with an increasingly refined product, based on increasingly spacious ships, with an unbeatable passenger/space ratio.
Furthermore, the segment is undergoing a consolidation process, with the entry of major cruise lines, bringing new financial opportunities and economies of scale, as well as new players associated with luxury hotel chains. The luxury market has grown from offering 51 ships in 2019 to 69 this year. By 2027, based solely on current orders, it will reach 89 ships. In 2018, 544,900 passengers embarked on the 45 ships belonging to the luxury segment. By 2027, this figure is projected to exceed one million passengers, representing a 139% increase.
The demand that will absorb the supply of these new ships is assured by the North American market, especially the mature, affluent baby boomer generation with ample free time, combined with emerging markets in Europe, Asia, and Australia. Luxury products already exist that are targeted at specific source markets such as Germany (Hapag-Lloyd) and France (Ponant). Viking also dedicated one of its ships exclusively to the Chinese market, but the Chinese government's pandemic policies slowed its development.
Another characteristic of the market is that it is increasingly difficult to separate the luxury market from the expedition market, as the latter has evolved into a combined luxury/adventure model, with destinations like the Arctic, the Amazon, etc., offered by several cruise lines under the same brand. Historically, this was the Hapag-Lloyd model, later emulated by Silversea and Ponant, and starting this summer, also by Seabourn and Viking.
Business Model
The business model for luxury cruises is remarkably well-defined. Small ships, with capacities always under a thousand passengers, offer stops at marquee ports outside the well-trodden destinations of mega-ships.
Shipowners pass on their profit margin to passengers, as cruises are typically all-inclusive. This makes discounts and even revenue management difficult. Extras are very limited: casinos (which some cruise lines, like Viking, do not offer), spas, onboard shops, and excursions (which some cruise lines, like Regent Seven Seas Cruises, include). Therefore, there are very few opportunities to increase profit margins once passengers are onboard, unlike the all-inclusive model of mega-ships.
Wealthy travelers are driving growth in the luxury segment due to the existing interest in spending their holidays aboard luxury cruise ships.
This business model is particularly attractive to investment funds and large hotel groups, which are closely monitoring the Ritz-Carlton Yacht Collection's takeoff this year. Despite being several years behind schedule, the fear of losing business among potential investors may lead more hotel chains and investors to enter the market, hoping to retain their land-based customers who want to cruise while maintaining the brand's standards. It's the Club Med model, present in the luxury market for almost thirty years, and which now appears to be gaining momentum again.
Potential new shipowners must find shipyards with available slipways that offer attractive financing, typically backed by export finance framework agreements. Large shipyards, which with the exception of Fincantieri did not previously operate in this luxury yacht segment, have changed their strategy and secured all the orders that have arisen in recent months, such as Meyer Werft with the Silver Nova and its sister ship, and Chantiers de l'Atlantique with the two latest vessels in the Ritz-Carlton Yacht Collection.
Weaknesses of the segment. Complexity of entry for new shipowners.
Another characteristic of this segment is the almost complete lack of second-hand vessels. Buying luxury ships is nearly impossible. Only when a shipowner's financial health falters does tonnage appear on the market. During the pandemic, Genting, already facing financial difficulties, sold the Crystal Esprit to Lindblad. Currently, Crystal's three ships are awaiting auction, which could be the beginning of another luxury cruise line. The purchase of Sea Cloud Cruises by the Ritz-Carlton Yacht Collection this year has been the only significant transaction in recent months.
As demonstrated by the Ritz-Carlton Yacht Collection startup, investor confidence in the luxury segment is remarkable. Royal Caribbean and Carnival's investments in this sector are further evidence of this. Another reason for optimism is that luxury cruise lines were among the first to resume operations with their full fleets after the pandemic. Pent-up demand filled luxury ships in a phased restart that began in 2020, continued in 2021, and appears set to solidify, with all luxury ships sailing at some point this summer.
The biggest challenges will come from a world rife with conflicts that are reducing itinerary options. Luxury cruise ships were set to be the first to return to the Black Sea and offer trips to Russia's Far East, but these are now impossible due to the conflict in Ukraine. Furthermore, some Far Eastern countries remain closed to tourism, while others, like New Zealand, have only opened their waters after the season was already fully planned. There are fewer destinations to deploy ships, which concentrates the supply and could, in turn, affect prices. Hopefully, this should be a temporary problem as countries overcome the pandemic and reopen to tourism.
Recruiting crew members and finding qualified and competent officers will continue to be another challenge for the cruise industry as a whole, and for the luxury segment in particular: the level of service is directly linked to crew qualifications. Attracting them first, training them later, and retaining them once trained are increasingly significant challenges for luxury cruise lines. The age of luxury cruise passengers is another weakness. Shipowners need to attract new, younger, more multigenerational customers with a greater awareness of sustainability.
Royal Caribbean
Group is present in the luxury market through two frameworks: Silversea Cruises and Hapag-Lloyd Cruises.
Since June 2018, Silversea has been owned by Royal Caribbean. At that time, Royal Caribbean acquired 66.7% of its shares for $1 billion, and in June 2020, it purchased the remaining third from Heritage Cruise Holding, paying with 5.2 million RCCL shares (a total of 2.5%).
Silversea currently offers a fleet of ten ships with capacities ranging from 100 to 596 passengers, allowing it to provide a wide geographical diversity in its itineraries, reaching all corners of the world, including the two poles, the Galapagos Islands, Alaska, and more. Its ships have been successively enlarged: the new Silver Nova, the first of the fourth generation of luxury ships, is three times larger than the pioneering Silver Cloud (of the first generation) and 34% larger than the previous generation, the third-generation Silver Muse. However, its passenger capacity is only 2.5 times greater than the Silver Cloud, but not compared to the Muse series ships, which have a 70% increase in passenger capacity.
The bulk of its fleet is the Silver Muse class, designed as an evolution of the Silver Spirit. The Spirit was delivered in 2009 and later upgraded to the Muse class standard through a lengthening in 2018. The Silver Muse entered service in 2017 and was the first of a series of three, which also includes the Silver Moon and the Silver Dawn, all 40,700 GT ships built by Fincantieri. With a capacity of 596 passengers, the Silver Muse/Spirit class features up to 26 different dining concepts in its restaurants. Silversea offers contemporary and stylish luxury, more understated than opulent, complemented by impeccable service. Its cabin standard is very high: all passengers sailing on a Silversea ship enjoy a balcony suite with a personal butler who provides excellent service, even on the smaller, 102-passenger Silver Origin in the Galápagos. The suites' amenities include marble bathrooms with bathtub and shower, and Bulgari bath products.
The dining experience is extensive on Silversea ships, especially the four Spirit/Muse series ships and the two new Evolution series ships, all designed to satisfy the most discerning palates. Their ten restaurants offer Italian, French, Asian, and other cuisines, along with an extensive wine list. A new culinary education concept, SALT, showcases local gastronomy with expert commentary on the menu. The program also includes culinary excursions ashore.
Silversea owns a fleet of four expedition ships. They are the smallest in the fleet. Three of them are first-generation luxury ships converted into expedition vessels (Explorer, Cloud, and Wind), and they operate to visit both poles. On voyages to these latitudes, Silversea, for example, provides a complimentary jacket to each passenger. The fourth is specifically designed for the Galápagos Islands.
Royal Caribbean's other luxury cruise line is Hapag-Lloyd. On February 7, 2020, TUI AG announced that Hapag-Lloyd Cruises (valued at €1.2 billion) would become part of TUI Cruises (the 50/50 joint venture between TUI and Royal Caribbean Group). The agreement was signed that same day in Hamburg, and Royal Caribbean paid approximately €700 million to TUI on July 6, 2020, during the height of the pandemic.
Hapag-Lloyd Cruises offers two distinctly different experiences: traditional luxury ships (Europa and Europa 2), and high-end exploration vessels. And it has been selling this mix for thirty years.
Before the pandemic, Hapag-Lloyd got rid of the Hanseatic and the Bremen, its first two luxury expedition ships, built in the nineties, and replaced them with three sister ships of the Inspiration class, delivered in the last three years, which define the modern expedition cruise: all cabins are outside, and most have a balcony, offer three restaurants to the passengers, etc.
The biggest challenges will come from a world full of conflicts that reduce itinerary options.
Hapag-Lloyd's previous new build was the Europa 2, delivered in May 2013. It is the epitome of the modern luxury ship, the first of the third generation of vessels, and has served as inspiration for other cruise lines such as Silversea and Seabourn. The project targeted the luxury market, but with an emphasis on younger, more active, and less formal passengers, including families (somewhat unusual in the luxury market). The Europa 2 is the brand's most contemporary and elegant ship, offering sophisticated leisure activities ranging from a jazz club to a cooking studio. It has seven restaurants on board, and all cabins have balconies. It is the company's bilingual ship, accessible to international guests.
And the Europa, Hapag-Lloyd's oldest ship, dedicated exclusively to the German market, has repeatedly received the title of World's Best Cruise Ship from the Berlitz guide, making it the benchmark in the market. It is the epitome of classic luxury and was also the pioneer of the second generation of luxury ships. The gourmet delights served in its five restaurants are renowned. Among its 204 cabins, 152 have balconies, including Penthouse Grand Suites, which are 85 square meters including the balcony. The smallest cabins offer 27 square meters. All offer separate living and sleeping areas, dressing rooms, and marble bathrooms with full bathtubs and showers. The itineraries of both the Europa and the Europa 2 are truly dreamlike. They spend their summers in Northern Europe, and the rest of the year they sail the Seven Seas, with destinations such as Australia, South America, the Pacific, and more.
Carnival Corp. – Seabourn Enters the Expedition Segment.
Seabourn Cruise Line is Carnival Corporation's luxury brand. This summer, it will have a fleet of six ships with capacities ranging from 264 to 600 passengers, offering modern and comfortable luxury and a reputation for being the least concerned with dress code among luxury cruise lines. At most dinners and evening events, a jacket is optional for gentlemen in the restaurants, and ladies are not required to wear a long dress or their finest jewelry. Even if a passenger prefers not to dress formally for a formal evening, there are casual alternatives where they can dine just as well.
Founded in the late 1980s by Norwegian shareholders who built two ships in Germany, Seabourn was acquired by Carnival Corporation in 1991, acquiring a 25% stake. In 1996, Carnival increased its share to 50% to purchase the Queen Odyssey and convert it into the third ship in the fleet as the Seabourn Legend. In 1998, Carnival bought the remaining 50% and merged Seabourn with Cunard, increasing its fleet to six ships. However, the merger was not very successful, and in 2002, Seabourn reverted to its original three ships. These three original ships were sold to Windstar and decommissioned between 2014 and 2015. The current fleet consists of three second-generation ships (Seabourn Odyssey, Sojourn, and Quest), each around 30,000 GT, with a capacity of 450 passengers served by a crew of 330. and two third-generation ships, the Seabourn Encore and Ovation, of 40,000 GT and 600 passengers.
The Seabourn Odyssey was the first ship built in twenty years when it was delivered in 2009. At 32,000 GT, the Seabourn Odyssey and its two sister ships followed the path laid out ten years earlier by the Europa and the Silver Whisper as the second generation of luxury ships. Today they are the smallest in the fleet, but they offer one of the highest GT-to-passenger ratios in the industry.
Following the sale of the original trio of ships, the two Encore-class vessels arrived, third-generation ships comparable to Silversea's Muse class. Compared to the Odyssey class, the new ships were 25% larger (40,350 GT), carried 25% more passengers, had an additional deck, redesigned venues, spacious public areas, the largest spa on a luxury cruise ship, and new onboard programming. Continuing the Odyssey-class standard, all cabins on the Seabourn Encore and its sister ship featured balconies.
Unlike Silversea, Seabourn didn't incorporate the concept of luxury expedition cruises until this coming summer of 2022, with the addition of the Seabourn Venture. This ship boasts a polar class for the Arctic and Antarctic and is equipped with a state-of-the-art mini-submarine for underwater excursions. It offers a 26-person expedition team that operates the 20 Zodiacs that will take passengers close to glaciers and icebergs. Its sister ship, the Seabourn Pursuit, will join the fleet next year. Both sister ships offer the Grand Wintergarden Suites, a 90-square-meter duplex with spacious bay windows, a large balcony, a living room, a dressing room, and a full bathroom.
However, Seabourn does not have any fourth-generation luxury ships, like its arch-rivals Silversea and Regent Seven Seas, nor does Carnival Corp. seem willing to undertake such an expense. This explains the rumors of its sale to the sovereign wealth fund of the Kingdom of Saudi Arabia, which, if it materializes, might lead to an expansion of its fleet.
Viking
's founder, Torstein Hagen, enjoyed a river cruise in Russia in the mid-1990s and decided to create his own river cruise line. His first step was to purchase four Russian river cruise ships in 1997. Many more followed, eventually making Viking a leader in that market. Their leap into luxury ocean cruising came on May 17, 2013, when the company announced the creation of its "Viking Ocean" division. The first ship, the Viking Star, arrived in 2015 and began offering voyages in the Baltic and Mediterranean. After Disney in 1998, Viking became the second shipowner to launch its own ship design, with a prototype that defined the fourth generation of luxury vessels. The results must have been magnificent, because to date, eight sister ships have been built, with four more firm orders pending delivery. They all share the same layout, design, and similar decor, and offer the same leisure experiences. Viking Ocean's fleet consists of ten identical luxury ships: Viking Star (2015), Viking Sea (2016), Viking Sky (2017), Viking Sun (2017), Viking Orion (2018), Viking Jupiter (2019), Viking Venus (2021), Viking Mars and Viking Neptune (2022), and Viking Saturn (2023), all built by Fincantieri. Each ship has a capacity of 928 passengers (served by 465 crew members) and cost approximately €340 million. The Viking Sun (2017) is another sister ship in the series, but it was transferred to a Viking joint venture in China in 2021. Viking Ocean plans for a fleet of 16 sister ships. Despite their size, they offer a theater, a three-deck atrium, duty-free shops, and more.
CLIA estimated that it would exceed one million luxury passengers in 2023.
All Viking Ocean ships offer superb itineraries to destinations accessible only to relatively smaller vessels. Port calls are generally in uncrowded locations, inaccessible to mega-ships. Compared to similar ships operated by other companies, Viking Ocean itineraries feature fewer sailing days, longer port calls, and many overnight stops. Some optional excursions are complimentary.
Onboard, the experience is based on a variety of dining options, with all specialty restaurants included in the fare (Manfredi's, The Chef's Table); drinks are also included; lectures on topics related to the ports of call are offered; the spa is complimentary, and there is an infinity pool aft, the first of its kind installed on board a ship, as well as an indoor pool in the center of the vessel. All cabins have balconies. And Wi-Fi is free.
In April 2018, Viking Ocean Cruises decided to enter the luxury exploration cruise market, commissioning Fincantieri to build the two largest ships in that segment. The Viking Octantis was delivered this year, and the Viking Polares will be delivered in 2023, at a price of over $300 million each. Both ships are twice the size of the Hanserastic Inspiration or the Silver Cloud. This summer, they are offering new itineraries through the North American Great Lakes.
(CDP Ponant)
was founded in 1988 by a group of French merchant mariners. Its first vessel, Le Ponant, was a three-masted sailing ship delivered in 1991 (and still in service). Originally based in Nantes, CDP Ponant moved its headquarters to Marseille after being acquired in 2006 by CMA CGM, the world's third-largest container shipping company. Thanks to this new partner, Ponant took delivery of Le Boreal in 2010, the first of four sister ships, followed by L'Austral (2011), Le Soleal (2013), and Le Lyrial (2015). The Lehman Brothers crisis led CMA CGM to focus on its container business and sold Ponant to the investment fund Bridgepoint Capital in 2012. In July 2015, Ponant was sold again to Groupe Artemis, the holding company of French billionaire François Pinault, owner of luxury brands such as Gucci, Yves Saint Laurent, Bottega y Gasset, Balenciaga, Châteaux Latour, and others. In March 2016, Ponant signed a contract with VARD (Fincantieri's Norwegian subsidiary) to build four 184-passenger cruise ships, the Explorer class. In March 2018, it expanded the Explorer class order with two additional ships. Unlike other operators in the luxury segment, Ponant evolved to a smaller prototype (1,000 GT less, 9% smaller than the Ponant class), with a capacity of only 184 passengers (30% fewer than the Ponant class), but also with 22% fewer crew members.
In December 2017, Ponant contracted with VARD for the first cruise icebreaker, named Le Commandant Charcot, at a cost of $324 million. A unique product in the luxury expedition segment, it was delivered last year. It is the first luxury vessel powered by liquefied natural gas and offers only 135 cabins, including 68 balcony suites. It is one of the most spacious luxury ships in the world, with over 115 GT per passenger.
And, in addition, on August 8 of that same year, it bought another luxury operator, Paul Gauguin Cruises, specializing in high-end cruises in Polynesia with its ship Paul Gauguin, which continued to operate independently.
All these ships offer every comfort, excellent service from an expert crew, and a distinctly French touch throughout, creating an atmosphere similar to a boutique hotel in Paris. They also offer meticulously crafted itineraries not only to Antarctica and the Arctic, but also to the Caribbean, the Baltic, the Mediterranean, Asia, and Australia. Furthermore, Ponant collaborates with other luxury operators such as Abercrombie & Kent and Tauck. One difference between Ponant and other luxury cruise liners is its all-inclusive concept: while certain drinks, optional excursions, laundry, and gratuities are not included, the spa and Wi-Fi are provided. For dining, passengers can choose between two restaurants: the "Gastronomic Restaurant" or the "Grill Restaurant.".
The public spaces offer a wide variety of lounges, taking into account the size of Ponant's ships, creating an ideal environment. Among them, the "Blue Eye Lounge" stands out, a lounge located 2-3 meters below the waterline, integrated into the ship's hull. It features comfortable seats that vibrate to the rhythms of the ocean, views of underwater life through enormous portholes (1.6 x 3.4 meters), and a digital video wall projecting the nearby marine environment.
In August 2018, Ponant partnered with National Geographic for four years to have photographers and experts on board conducting presentations and land-based programs on selected expedition itineraries.
The biggest challenges will come from a world full of conflicts that reduce itinerary options.
These smaller ships have between 16 and 135 cabins, 95% of which have balconies, although in the Explorer class this percentage reaches 100%. They are not known for their opulence (offering cabins ranging from 19 m² to 45 m² for the owner's suite), but they feature French-inspired decor and ambiance, prioritizing comfort over luxury. Complimentary 24-hour room service is provided, while the more expensive suites include a butler.
NCL Group. Regent Seven Seas Cruises Focused on Super Luxury.
Another leading luxury cruise line, Regent Seven Seas, which is celebrating its 30th anniversary, prides itself on its opulence. It refers to its ships as floating palaces and offers the most inclusive fares of all luxury cruise lines: these include, for example, business class airfare, stays in luxury hotels before or after the cruise, and optional excursions in every port.
On May 26, 1992, its first ship, the catamaran Radisson Diamond, was christened in London. Its next milestone was the merger, in January 1995, between Radisson Diamond and Seven Seas Cruise Line, which created Radisson Seven Seas Cruises. In March 2006, Carlson Hospitality announced that Radisson Seven Seas would become Regent Seven Seas Cruises. A year later, on November 5, 2007, the investment fund Apollo acquired Regent Seven Seas Cruises for $1 billion, and a month later, it created Prestige Cruise Holdings Inc. as a holding company to manage Oceania and RSSC. In September 2014, NCL acquired Prestige Cruise for $3.025 billion, and Regent Seven Seas became part of the third-largest cruise line group, where it remains to this day.
Currently, its fleet includes five ships with capacities ranging from 504 to 738 beds. The three oldest are prototypes over twenty years old. But NCL's commitment to Regent Seven Seas materialized in the Seven Seas Explorer project, of which two ships, the Seven Seas Explorer and Seven Seas Splendor, have been delivered, with a third scheduled for delivery in 2023. At 55,000 GT, they were the first fourth-generation luxury ships, offering only spacious suites with oversized balconies and marble bathrooms. Costing $450 million, they are also the most expensive luxury ships ever built.
The most luxurious Regent Suites are truly floating mansions, featuring solariums, private spas with saunas and steam rooms, and Steinway pianos in their living rooms. It's worth noting that in March 2001, this cruise line was the first to offer the market's first all-suite ship with balconies, the Seven Seas Mariner. The Explorer's Regent Suite measures 1,181 square meters, including the balcony. This suite is not only the largest afloat; it's also the most expensive, at around €5,000 per day per passenger.
Its culinary offerings are based on the restaurants “Compass Rose” and “La Veranda,” both open all day and serving gourmet cuisine. Among the alternative restaurants located within the arcade are “Signatures,” operated by Le Cordon Bleu de Paris, and “Prime.”.
Regent does not offer exploration cruises, focusing instead on luxury. Its aim is to provide breathtaking opulence. Its dress code is more rigorous than Seabourn's, more in line with Silversea's. The floors of its ships offer vast expanses of Carrara marble beneath your feet, and the ceilings are adorned with Czech crystal chandeliers. The art collections on board include works by Picasso.
Long-established luxury cruise line
Windstar Cruises boasts a fleet of six ships, all quite old, though during the pandemic years it undertook the $250 million Star Plus project. This involved lengthening three of its ships in Italy to incorporate new suites, restaurants, and public spaces. These include Steven Raichlen's Star Grill, a casual outdoor barbecue restaurant developed in partnership with the renowned chef, as well as a new infinity pool and a three-bedroom, three-bathroom owner's suite. The Star Plus program began in October 2019 and was interrupted by the discovery of asbestos on board, an unforeseen issue that increased costs and delayed the lengthening process.
SeaDream Yacht Club is a cruise line founded in 2001 by Atle Brynestad, who had previously founded Seabourn Cruise Line in 1987, where he served as president and CEO during its early years. He was also president of Cunard Line Ltd. SeaDream Yacht Club offers voyages on two sister ships, SeaDream I and SeaDream II, both built over thirty years ago and marketed as yachts. SeaDream provides an informal experience that exceeds passenger expectations as they explore destinations rarely offered by other cruise lines.
Crystal, the chronicle of a bankruptcy foretold.
The main consequence of the pandemic in the cruise industry was the bankruptcy of Genting Hong Kong, the parent company of Crystal Cruises, one of the luxury brands that had dominated the market in recent decades. This bankruptcy was preceded by the departure of Crystal Cruises' president, Tom Wolber, in October 2020. His replacement, Jack Anderson, also failed to turn the company around.
Genting Hong Kong acquired Crystal Cruises in 2015 for $550 million from the Japanese cruise line Nippon Yusen Kaisha, to complement its existing offerings with Star Cruises and Dream Cruises. At the time, Edie Rodriguez was president, and she was confirmed in her position. She launched an ambitious expansion project, aiming to increase the fleet to seven ships within ten years and begin trading on the New York Stock Exchange. A subsidiary was also created for air cruises (Crystal Air), one dedicated to luxury expedition cruises (Crystal Yachts), and another for river cruises (Crystal River Cruises). She also undertook surprising initiatives, such as the potential reactivation of the United States Cruises and the Northwest Passage cruise on the Crystal Serenity in 2016. This strategy diluted the Crystal Cruises brand and marked the beginning of a downward spiral.
The lack of a clear vision for the future was evident in the Exclusive project. In 2016, a letter of intent was signed to build a 117,000 GT Exclusive-class luxury ship with a capacity for 1,000 passengers, scheduled for delivery in 2019. This was later delayed to 2021. With the arrival of Tom Wolber, its size was reduced to 60,000 GT, and it was ultimately never built.
At the end of June it was made public that A&K Travel Group Ltd. (Abercrombie&Kent), in which Manfredi Lefevbre, former owner of Silversea Cruises, has a significant stake, acquired the Crystal Cruises brand and the ships Crystal Serenity and Crystal Symphony at public auction.
New Luxury Cruise Lines:
One company that has recently entered the luxury market is Mystic Invest, which operates through several brands such as Atlas Ocean Voyages and Nicko Cruises, all owned by Portuguese businessman Mario Ferreira. The fleet for both brands consists of the same 10,000 GT ship prototype, with a capacity for 200 passengers, also built at Mario Ferreira's shipyard in Viana do Castelo, Portugal. Atlas Ocean Voyages, which launched in 2021, currently has a fleet of two ships, the World Navigator and the World Explorer, out of a planned total of five. They offer a relaxed atmosphere on board, although the ships' decor is very elegant, with some areas featuring marble flooring. Mystic Cruises' fares include Wi-Fi, gratuities, beverages, travel insurance, and some optional excursions.
On June 22, 2017, Ritz-Carlton announced an order for a cruise ship, with an option for two more, from the Vigo shipyard Barreras.
The luxury market has gone from offering 51 ships in 2019, to 69 this year.
In March 2022, The Ritz-Carlton Yacht Collection contracted Chantiers de l'Atlantique for two luxury ships, to be delivered in 2024 and 2025, named Ilma and Luminara. These 46,750 GT vessels are significantly larger than the 24,000 GT Evrima and will feature 456 beds, compared to the Evrima's 298. The layout of public spaces is similar to that of the Evrima, although they are more spacious and offer more leisure options. All cabins have balconies, including two that are over 100 square meters. Few details are known about them, but they will offer an outstanding GT/passenger ratio of 102.5, compared to the Evrima's 85.5, while service is assured with a passenger/crew ratio close to 1. Like the Evrima, each of these two ships will offer five restaurants, six bars, a wine cellar, and the Ritz-Carlton Spa. Unlike other shipowners, Ritz offers a children's program. Technically, following in the footsteps of the Silver Nova, they will have propulsion systems that use LNG as fuel.
Straddling the upper premium and luxury segments is Explora Journeys, the new brand from MSC Cruises. In May 2023, Explora Journeys will launch with its first ship, the Explora I, a 63,900 GT vessel offering 461 cabins and suites. It will be followed by its sister ships, Explora II, Explora III, and Explora IV, with deliveries scheduled through 2026. The contract included two additional build options.
Each Explora Journeys ship will carry a maximum of 900 passengers. Perhaps the focal point of its design is the water. They offer more than 2,500 square meters of outdoor deck space, with 64 private cabanas and four swimming pools, one of which has a retractable roof—another hallmark of MSC ships.
It offers a wide range of cabins, including the 280 m² Owner's Residence, 22 Ocean Residences, 67 Ocean Penthouses, and 371 Ocean Suites. Eighty-two suites can be connected to create special family cabins.
In the culinary realm, there are nine different dining experiences, ranging from Asian to Mediterranean, and a steakhouse. Top-notch service is guaranteed with a passenger-to-crew ratio of 1.25. Explora Journeys appears to have opted for a near all-inclusive model, meaning passengers won't have to pay for tips, drinks, spa treatments, restaurants, Wi-Fi, etc. Only optional excursions, flights, and pre- and post-cruise accommodations are excluded.
