<SEC-DOCUMENT>0000884887-16-000153.txt : 20160510
<SEC-HEADER>0000884887-16-000153.hdr.sgml : 20160510
<ACCEPTANCE-DATETIME>20160510083141
ACCESSION NUMBER:		0000884887-16-000153
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160510
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160510
DATE AS OF CHANGE:		20160510

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ROYAL CARIBBEAN CRUISES LTD
		CENTRAL INDEX KEY:			0000884887
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				980081645
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11884
		FILM NUMBER:		161633813

	BUSINESS ADDRESS:	
		STREET 1:		1050 CARIBBEAN WAY
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33132
		BUSINESS PHONE:		3055396000

	MAIL ADDRESS:	
		STREET 1:		1050 CARIBBEAN WAY
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33132

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RA HOLDINGS INC
		DATE OF NAME CHANGE:	19920424
</SEC-HEADER>
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<TYPE>8-K
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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 13pt; FONT-WEIGHT: bold">UNITED STATES</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 8.01<font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 10pt">&#160;&#160;&#160;</font>&#160;Other Events.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Senior Vice President and General Counsel</font></div>
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<div style="TEXT-ALIGN: right">Exhibit 99.1<br>
</div>

<div style="TEXT-ALIGN: center; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><img src="rclswc.jpg" alt=""></div>

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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Owen Torres</font></div>

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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">RCL Investor Contact:</font></div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Carol Cabezas</font></div>

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<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Springwater Media Contact:</font></div>

<div style="TEXT-ALIGN: right; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Abigail Diaz-Agero y de Pineda</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ROYAL CARIBBEAN CRUISES LTD. AND SPRINGWATER CAPITAL ANNOUNCE JOINT VENTURE</font></div>

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<div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Pullmantur Cruises and Croisi&#232;res de France to benefit from core strengths of both parent companies</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="FONT-FAMILY: Arial; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">MIAMI and MADRID &#8211; May 10, 2016 &#8211;</font> Royal Caribbean Cruises Ltd. (NYSE: RCL or &#8220;Royal Caribbean&#8221;) and Madrid-based private equity firm Springwater Capital (&#8220;Springwater&#8221;) today announced an agreement to form a joint venture dedicated to bringing culturally authentic, best-in-class cruise experiences tailored to Spanish and French tourists through the management of the Pullmantur and Croisi&#232;res de France (&#8220;CDF&#8221;) cruise brands.</font></font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">As part of the terms of the agreement, RCL will sell a 51 percent stake in Pullmantur and CDF to Springwater.&#160;&#160;RCL will have a 49 percent stake, and retain full ownership of the ships and planes currently operated by Pullmantur and CDF, which will be leased into the joint venture. RCL will also provide marine operations services to Pullmantur and CDF through a management agreement.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">This joint venture expands on the successful, pre-existing partnership between RCL and Springwater for the Wamos air transport, travel agency, and tour operation businesses. This investment also expands Springwater&#8217;s existing tourism portfolio, which includes airline and travel agency investments in Spain, France and Portugal.</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">&#8220;Pullmantur and CDF have a long history of offering authentic, localized cruise vacations to their home markets,&#8221; said Richard D. Fain, Chairman and Chief Executive Officer of Royal Caribbean. "We look forward to the new focus that this joint venture with Springwater will bring to these companies as they seek to grow.&#8221;</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Fain added: &#8220;Given the signs of recovery we have seen in the Spanish economy, as well as increased interest in cruising from tourists in France, we think this is the right time to bring together the extensive</font></div>

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<div style="TEXT-ALIGN: left"><br>
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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">experience of our deeply valued employees at Pullmantur and CDF with the local travel and tourism expertise of the Springwater team. Springwater&#8217;s local management presence in Madrid, coupled with RCL&#8217;s long-standing history in cruise operations, will provide the foundation for improved returns in the future.&#8221;</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Martin Gruschka, Chief Executive Officer of Springwater, added: &#8220;We are delighted to announce the joint venture with Royal Caribbean, and look forward to working with Pullmantur and CDF employees. The transaction leverages our firm&#8217;s travel sector expertise, and will take advantage of Pullmantur and CDF&#8217;s strong client and travel industry relationships in the Spanish and French markets. These relationships &#8211; paired with Royal Caribbean&#8217;s cruise management &#8211; will create the foundation for a successful, long-term strategic partnership.&#8221;</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">The joint venture is expected to be completed later this year, subject to customary closing conditions and regulatory approvals.&#160;&#160;It is expected to result in an immaterial one-time gain, which will be excluded from RCL&#8217;s key metrics.&#160;&#160;Given the markets in which Pullmantur operates, the transaction is expected to have partially offsetting impacts on yields and expenses.&#160;&#160;The amount of these impacts will depend on when regulatory approvals are received and the transaction closes, but the net effect on the company&#8217;s 2016 bottom line is expected to be neutral to marginally positive.</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">About Royal Caribbean</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Royal Caribbean Cruises Ltd. (NYSE: RCL) is a global cruise vacation company that owns Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises and CDF Croisi&#232;res de France, as well as TUI Cruises through a 50 percent joint venture. Together, these six brands operate a combined total of 46 ships with an additional ten on order. They operate diverse itineraries around the world that call on approximately 490 destinations on all seven continents. Additional information can be found on, <font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.rclcorporate.com</font>, <font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.rclinvestor.com</font>, <font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.royalcaribbean.com</font>,&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.celebritycruises.com</font>, <font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.pullmantur.es</font>, <font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.azamaraclubcruises.com</font>,&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.cdfcroisieresdefrance.com</font>, or <font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.tuicruises.com</font>. </font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">About Springwater Capital</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Springwater Capital LLC is an independent private investment firm founded in 2002. The company invests in different sectors throughout Europe always working closely with its portfolio companies&#8217; management in order to achieve long-term sustainable returns. Springwater has performed over 30 acquisitions and its current portfolio includes more than 20 platform companies with about &#8364;3bn in sales. In Spain Springwater has invested in companies such as Wamos, Aernnova, Delion, Daorje, Nervi&#243;n Industries (Monesa), Fivemasa, Ceyde, Think Textil, Imtech, Peggy Sue's or SGEL. In the tourism sector, Springwater has presence through affiliated companies in several countries such as Spain, Portugal, Italy, France and selected locations in Africa.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Forward-Looking Statements and Disclosures</font></div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>

<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Certain statements in this release relating to, among other things, our future performance constitutes forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the expected impact of the new joint venture on our business and our financial results for 2016 and the costs and yields expected in 2016 and other future periods. Words such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;goal,&#8221; &#8220;intend,&#8221; &#8220;may,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; &#8220;seek,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; and similar expressions are intended to identify these forward-looking statements. Forward-looking statements reflect management&#8217;s current expectations, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results,</font></div>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
