Hawaii’s Royal Kona Resort to reopen after 7-month closure

KAILUA-KONA, Hawaii (AP) — The Royal Kona Resort on Hawaii island plans to reopen to guests following a seven-month closure amid the coronavirus pandemic and a multi-million dollar renovation.

The three-tower resort overlooking Kailua Bay on the western side of the Big Island expects to open Thursday, West Hawaii Today reported Tuesday.

The Royal Kona is the only property in the area expected to reopen on the same day the state launches a program enabling travelers to avoid a 14-day quarantine by taking COVID-19 tests before arriving in Hawaii.

Since the implementation of the quarantine mandated by Democratic Gov. David Ige in March, visitor arrivals to the Big Island have dropped 97% and hotel occupancy has hovered at around 30%, the newspaper reported.

Royal Kona Resort General Manager Jay Rubenstein said there have been “quite a few” reservations already at the 428-room property owned by Honolulu-based Hogan Hospitality Group.

“Hell

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Royal Caribbean Group announces pricing of $500 million senior convertible notes offering

MIAMI, Oct. 13, 2020 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has priced its previously announced private offering of $500 million aggregate principal amount of 2.875% Convertible Senior Notes due 2023 (the “Convertible Notes”). In connection with the offering of the Convertible Notes, the Company granted certain of the initial purchasers of the Convertible Notes a 13-day option to purchase up to an additional $75 million aggregate principal amount of the Convertible Notes. The offering is expected to close on October 16, 2020, subject to customary closing conditions. The Company expects to use a portion of the net proceeds from the offering to repay its 2.650% Senior Notes due 2020, with the remainder to be used for general corporate purposes.

The Convertible Notes will mature on November 15, 2023, unless earlier converted, redeemed pursuant to a tax redemption or repurchased. The initial conversion rate

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Royal Caribbean Group announces pricing of offering of 8,333,333 shares of common stock

MIAMI, Oct. 13, 2020 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has priced its previously announced underwritten public offering of 8,333,333 shares of common stock of the Company at a price of $60.00 per share. The offering is expected to close on October 16, 2020, subject to customary closing conditions. The Company has granted the underwriters an option to purchase up to 1,250,000 of additional shares, which must be exercised on or before November 12, 2020. The Company expects to use the net proceeds from the offering for general corporate purposes.

The Company also announced by separate press release that it has priced its previously announced private offering to eligible purchasers of $500 million aggregate principal amount of 2.875% senior convertible notes due 2023 (or up to $575 million aggregate principal amount if the initial purchasers exercise in full their option to purchase additional

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Cruise Ship Stocks Sink as Royal Caribbean Plans to Raise Capital

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A Celebrity Infinity Cruise ship, owned by Royal Caribbean Group, in Miami.


Joe Raedle/Getty Images


Royal Caribbean Group

unveiled plans Tuesday to raise $1 billion in new capital, the latest effort by a cruise operator to shore up liquidity as business remains sharply curtailed by the pandemic.

Royal Caribbean (ticker: RCL) said it has launched a private offering of $500 million in senior convertible notes due 2023, with a purchaser option to buy an additional $75 million of the convertible notes. It has also launched a public offering of $500 million shares of common stock, with an underwriter option to buy $75 million in additional shares.

Shares of all three major U.S. cruise operators were lower after the news. Royal Caribbean was down 10.9%, at $62.19, in recent trading, while rival

Carnival

(CCL) was off 6.5%, at $14.22, and

Norwegian Cruise Line Holdings

(NCLH) was down 6.9%, at

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Why Royal Caribbean, Carnival, and Norwegian Cruise Line Stocks Plunged Today

What happened

Shares of Royal Caribbean (NYSE:RCL) sank on Tuesday after the cruise ship company said it was seeking to raise another $1 billion to fund its operations during the coronavirus pandemic. Fellow cruise ship operators Carnival (NYSE:CCL) (NYSE:CUK) and Norwegian Cruise Line Holdings (NASDAQ:NCLH) also fell on the news.

As of 10:40 a.m. EDT, Royal Caribbean, Carnival, and Norwegian Cruise Line Holdings were down 10%, 6%, and 6%, respectively.

So what

With most of its fleet unable to leave port due to COVID-related sailing restrictions, Royal Caribbean has suffered heavy losses during the coronavirus crisis. In just the first six months of 2020, it generated a net loss of $3.1 billion. 

Unfortunately, those losses are set to grow even larger in the coming months. Royal Caribbean said that while it hopes to resume voyages by Dec. 1, it could “provide no assurance” that it will be able to restart

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Cruise stocks lead S&P 500’s losers after Royal Caribbean’s $1 billion in stock, debt offerings


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Shares of cruise companies took a beating Tuesday, with Royal Caribbean Group hit the hardest after announcing a total of $1 billion worth of public stock and private convertible debt offerings, and providing a bookings update.

Royal Caribbean’s stock
RCL,
-13.66%

dove 13.2% in afternoon trading, to pace all of the S&P 500 index’s
SPX,
-0.62%

decliners. The stock is on track for the biggest one-day decline since it tumbled 14.3% on June 11.

Trading volume jumped to 14.8 million shares, or more than double the full-day average of about 6.2 million shares, according to FactSet.

The stock’s selloff also weighed on Royal Caribbean’s peers, as shares of Norwegian Cruise Line Holdings Ltd.
NCLH,
-8.85%

dropped 7.3% to be the second-biggest S&P 500 loser, and Carnival Corp.
CCL,
-7.69%

slid 7.2% to be the third-biggest decliner.

Royal Caribbean said before the open that it had commenced a public

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Carnival, Royal Caribbean, and Norwegian Cruise Line Might Not Sail Until 2021

Carnival (NYSE:CCL)(NYSE:CUK) tried to dip its feet into the chilly November waters, but it’s now joining its smaller rivals in hoping for a December relaunch. Things could get worse. If the Centers for Disease Control and Prevention (CDC) reportedly has its way, we may have to wait until at least February to get the out-of-favor cruising industry back in business. 

The moment the CDC extended its No Sail Order until the end of October, we saw Royal Caribbean (NYSE:RCL) and Norwegian Cruise Line Holdings (NASDAQ:NCLH) cancel all U.S.-originating sailings until early December. With the CDC extending the order a few times now — and often near the end of the travel ban — they didn’t want to be caught with displaced passengers scrambling at the port for nixed voyages. Carnival initially decided on a clever gamble. It would move most of its future cruises until at least December, but

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Royal Caribbean Group announces proposed offering of senior convertible notes

MIAMI, Oct. 13, 2020 /PRNewswire/ — Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has commenced a private offering of senior convertible notes to be issued by the Company due 2023 (the “Convertible Notes”) for an aggregate principal amount of up to $500 million. In addition, the Company intends to grant the initial purchasers an option to purchase up to an additional $75 million principal amount of Convertible Notes.

The Convertible Notes will be convertible at the holder’s option in certain circumstances. Upon conversion, the Company may satisfy its conversion obligation by paying or delivering, at its election, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock.

The Company expects to use a portion of the net proceeds from the offering to repay its 2.650% Senior Notes due 2020, with the remainder to be used for general

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Royal Caribbean’s cruise to nowhere sees bookings go up by 500%, first sailing almost sold out

Following the announcement of cruises to nowhere in Singapore, two cruise lines — Royal Caribbean and Dream Cruises — unveiled its slate of packages (to nowhere).

And it seems cruises to nowhere are quite a hit among Singapore residents.

First sailing almost sold out

In response to Mothership queries, managing director for Royal Caribbean Group Asia Pacific Angie Stephen shared that customer demand has “exceeded expectations”.



a large ship in a body of water: Photo from Royal Caribbean Cruise.


© Provided by Mothership
Photo from Royal Caribbean Cruise.

As cruises can only cater up to 50 per cent occupancy for now, Royal Caribbean’s Quantum of the Seas can accommodate up to approximately 2,000 guests at one time.

Bookings have gone up 500 per cent compared to the past two weeks and as of the time of writing, the first sailing on Dec. 1 is almost sold out.

The cruise line has seen a demand for its December sailings and it isn’t surprising since

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RCL ALERT: Labaton Sucharow LLP Files Securities Class Action Lawsuit Against Royal Caribbean Cruises Ltd. and Certain Affiliates

NEW YORK–(BUSINESS WIRE)–Labaton Sucharow LLP (“Labaton Sucharow”) announces that on October 7, 2020, it filed a securities class action lawsuit, against Royal Caribbean Cruises Ltd. (“Royal Caribbean” or the “Company”) (NYSE: RCL) and certain executive officers (collectively, “Defendants”). If you purchased or otherwise acquired Royal Caribbean securities from February 4, 2020 through March 17, 2020, inclusive (the “Class Period”), and were damaged thereby (the “Class”) we encourage you to contact the Firm.

The lawsuit, captioned City of Riviera Beach General Employees Retirement System v. Royal Caribbean Cruises Ltd., No. 20-cv-24111 (S.D. Fla.) (the “Action”), on behalf of its client City of Riviera Beach General Employees Retirement System (“Riviera Beach”) against Royal Caribbean Cruises Ltd. (“Royal Caribbean” or the “Company”) (NYSE: RCL) and certain executive officers (collectively, “Defendants”). The Action asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and

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