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Royal Caribbean unveils $40 million support for travel agents

Royal Caribbean unveils $40 million support for travel agents

In order to assist travel agents, the Royal Caribbean Group is announcing plans to begin a second phase of its RCL CARES program to support its travel advisors as they attempt to restore their companies.

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The program provides eligible travel advisors with a $40 million pool of funds, who can apply for three-year, interest-free loans of up to $250,000 to keep their companies focused on a return to growth at a time when the pandemic shows increasing prospects of coming under control.

The pause in cruising has put a financial strain not only on cruise ships, but on large and small travel agencies, Royal Caribbean said, and while there is hope that the travel industry will recover strongly post-pandemic, during this intermediate phase of slower-than-usual business, businesses still need financial means.

In January, the company said information about the program application process will be shared directly with travel advisors.

"Our travel partners have stood strong beside us for more than 50 years, and we are determined to be there for them now. We're going to get to the other side of this challenging time together," said Richard Fain, Royal Caribbean Group's chairman and CEO.

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