Silversea Cruises has introduced what it referred to as a restructuring of the house owners’ – the Italian Lefebvre household’s – holdings, leading to Manfredi Lefebvre changing into chairman of Silversea, assuming the place from his brother Francesco Lefebvre.
In a ready assertion, the brand new chairman’s stated his first order of enterprise was to nominate Albert Peter as the brand new CEO, efficient instantly. Neither was obtainable for interviews at press time.
Peter has been related to Silversea since 1998, having been its banker all through its present growth, in accordance with a spokesperson.
Silversea took supply of the 382-passenger Silver Shadow in 2000 and was slated to take supply of the 382-passenger sister ship, the Silver Whisper, right this moment. An choice on a 3rd ship has not been exercised.
Silversea can be accountable for the gross sales and advertising of 88 visitor suites aboard Residensea’s the World, which enters service this fall. A sistership is scheduled to comply with in 2003.
Silversea additionally stated that Silversea ‘s current administration workforce stays on, together with President and COO Invoice Smith.
Luxurious Market
Whereas Silversea executives stated they had been too busy with the supply of the Silver Whisper to be interviewed, sources stated that the corporate is fighting low load components.
Carnival Company has repeatedly indicated comparable issues at Cunard Line and Seabourn Cruise Line.
Probably the most strong affirmation of issues is administration modifications, which have taken place at each Silversea and Cunard, whereas the latter can be working to re-brand and reposition its merchandise.
And hopeful start-ups, together with Luxus, have thus far not been in a position to persuade sufficient traders to step ahead with the required financing.
The luxurious market capability is projected to develop 37 p.c from the beginning of 2001 by 2003, which is the final 12 months when confirmed newbuildings will enter this market, boosting passenger capability from 179,880 to 246,540.
Perspective
Maybe the largest downside the posh market is going through was finest recognized by a comment by Carnival Corp. Chairman Micky Arison in a latest convention name to analysts. He requested why passengers ought to cruise on a luxurious ship (Seabourn?) once they might cruise to the identical ports in one other new, (comparatively) small ship (Renaissance?) for a 3rd of the value?
The mass market cruise merchandise (learn: modern and premium) undermined the existence of the funds market once they lowered costs, providing cruises on model new ships for a similar worth as crusing on an previous (usually drained) ship.
Now, is it the posh market’s flip?
The query is: Are the modern and premium ships, which are actually providing so many service options and new itineraries, more and more competing in opposition to the posh ships as nicely? The survival of the posh market because it exists right this moment would appear to rely upon two components: adequate model differentiation and adequate product supply differentiation from the remainder of the cruise market.
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