Royal Caribbean Selling Azamara Brand

Royal Caribbean has announced they are selling its Azamara cruise line brand.

According to Business Insider, the company will sell the line to Sycamore Partners for $201 million.

The Azamara deal is the latest in a series of cruise industry disruptions amid the COVID-19 pandemic.

The Azamara sale is a cash transaction between Royal Caribbean and Sycamore Partners, a private equity firm.

Sycamore will then own the cruising brand and its fleet of three ships.