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China's Ctrip, Royal Caribbean to drop SkySea JV

Chinese travel services company International Ltd. and Royal Caribbean Cruises Ltd. will end their SkySea Cruise Line joint venture in the fall of 2018, according to a March 19 announcement.

The cruise line, which was specifically developed for the Chinese market, will continue operating until the final voyage is confirmed in the weeks ahead.

The lead cruise ship, SkySea Golden Era, will be purchased by British cruise line Marella Cruises, which is owned by tourism company TUI AG. Details of the transaction were not disclosed, but the delivery of Golden Era to Marella Cruises is expected to take place in December.

Ctrip and Royal Caribbean each hold a minority stake in SkySea, while the rest is owned by SkySea management and a private equity fund.