Royal Caribbean signs agreement to build world-class cruise terminal in Miami

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Royal Caribbean Cruises Ltd. (NYSE: RCL) has signed an agreement with Miami-Dade County to construct and operate a dramatic new cruise terminal at PortMiami. The new terminal, on land leased from the County, will serve as homeport to Royal Caribbean International ships, including a 5,400-passenger Oasis-class ship, the world’s largest cruise ships. The agreement will come before the Miami-Dade County Board of County Commissioners for approval today, July 6, 2016.

royal-caribbean-logoThe 170,000-square-foot terminal is nicknamed the ‘Crown of Miami’ because of its distinct shape. The design evokes the points of the symbolic headgear when viewed from the water; the ‘M’ of Miami when viewed from the east or western approaches; and a sense of waves rising or ships passing when viewed from the terminal side. At night, the terminal’s facade will be lit ensuring that the building makes a striking impression and providing a dynamic addition to the PortMiami landscape.

Royal Caribbean has also committed to add a 20,000 square foot Innovation Lab to its corporate headquarters located at PortMiami. The Innovation Lab will continue to generate Royal Caribbean’s industry-leading, innovative vessels.

Currently, PortMiami welcomes approximately 750,000 Royal Caribbean passengers annually, representing about 15% of its overall passenger traffic.  Once the new cruise terminal is completed, it is anticipated that Royal Caribbean will generate at least 1.8 million passengers at PortMiami – representing no less than 30% of the port’s projected passenger traffic.

“We are truly excited to be working with Miami-Dade County and PortMiami to create not just another cruise terminal, but a truly iconic building,” said Richard D. Fain, chairman and CEO for Royal Caribbean Cruises Ltd. “This new terminal is a symbol of our commitment to Miami, the city where our company first started almost 50 years ago. We can’t wait to bring an Oasis-class ship to PortMiami.”

“Miami-Dade County is happy to welcome Royal Caribbean’s expansion at PortMiami, and all the economic benefits that come along with it,” said Carlos Gimenez, Miami-Dade County Mayor. “This public-private partnership will have an estimated economic impact of $500 million and generate approximately 4,000 jobs. Royal Caribbean has been an important part of our world-class community for almost 50 years, and this expansion will once again make PortMiami Royal Caribbean’s largest cruise port in the world. I thank them for their continued investment in and commitment to Miami-Dade.”

Broadway Malyan is designing the new terminal, after a global competition was held between five of the world’s leading architectural firms. The firm was selected because of their creative thinking and cutting-edge design, says RCL.

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