The great cruise ship shake-up continues with the sale of Pacific Princess to Sycamore Partners, who recently paid $200m for Azamara Cruises.
This will means that Sycamore, a private equity firm that specialises in consumer, retail and distribution investments, have swept up four sister vessels built as R ships for Renaissance Cruises.
The sale of the veteran Princess Cruises ship is in line with parent company Carnival Corporation’s plan to speed up the removal of less efficient vessels from its fleet.
Pacific Princess joined the Princess fleet in 2002 having originally entered service in 1999 as R3 for Renaissance Cruises.
The boutique-style ship offered an intimate cruising environment, with a total of just 670 passengers, but incorporated many of the dining and entertainment options available on the cruise line’s larger vessels.
She sailed more than 1.6 million nautical miles, 11 world cruises and offered distinctive itineraries to sought-after destinations all over the world.
“Pacific Princess holds so many memories and cherished experiences to all who sailed upon her,” said Jan Swartz, Princess Cruises president.
Guests with bookings will be notified, and along with their travel agents, will receive information on how to book another Princess cruise when operations resume. Guests who prefer a refund will be accommodated.