Risky Question: Do you feel that Silversea is financially stable?

[Mark_K]

It is great that people in the UK get financial protection.... however, most Regent customers are from the U.S. and Canada (followed by Australia and the U.K.) so protections are not in place for us other than several credit card companies that could possibly assist.

 

 

 

Here in the U.S., I was booked and fully paid when Renaissance went belly up some years ago. I had paid with my credit card, and the credit card company took the loss, and did not charge me. Renaissance had not provided the service for which I had paid. So it would appear there is protection when paying with a credit card here in the USA.

 

 

 

Dan

The same thing happened to my dad with one of those low cost airlines that went belly up on him. The credit card company promptly credited his card for the cost. The only thing he had to do was sign a form agreeing that the funds, if any, that would have been returned to him from the bankruptcy process would go to them.

 

 

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Edited March 9, 2014 by Mark_K

[Tothesunset]

Am I missing something that to everyone else is blindingly obvious?

 

I ask because whether a company goes belly-up between my booking and taking the holiday is one of the last things I would consider.

 

And why would that question be any less appropriate if applied to Seabourn, Virgin Atlantic, Four Seasons hotels or even J C Penney? Or any other company you care to name. My goodness, I think you would need to be very paranoid to question the financial integrity of every company you were going to go on holiday with. What a strange inquiry.

[rallydave]

A bit off topic on the Silversea board. FYI, the steel cutting on Regent's new ship is scheduled for July (24 months prior to anticipated launch date).

 

Getting back on topic, it is really good to know that Silversea is doing well:)

 

Not off topic at all as Regent and their ships and financial condition had been mentioned in this thread. Anyway, glad to get the July information as there is nothing out there on the net in the way of information on the explorer.

 

Must have gotten that information along with your invitation and tickets to the occasion. Have a wonderful time at Fincanteri.

[fizzy]

Am I missing something that to everyone else is blindingly obvious?

. What a strange inquiry.

 

 

 

 

yes, indeed.

[newlondon]

rallydave, Losing money by accounting and making money by ebitda are two different things as I am sure you are aware. None of the luxury or main stream cruise lines lose on an ebitda method. Any losses are because of the d.

When Carnival, of all lines, can pay cash for a ship in 2.5 years, you know this is a great business:eek:

[rallydave]

rallydave, Losing money by accounting and making money by ebitda are two different things as I am sure you are aware. None of the luxury or main stream cruise lines lose on an ebitda method. Any losses are because of the d.

When Carnival, of all lines, can pay cash for a ship in 2.5 years, you know this is a great business:eek:

 

You are correct about EBITA newlondon; my concern would be the amount of debt they are carrying plus more debt to pay for the new ship. At the interest rates that they are paying, looking at $100M to $200M in interest payments per year and that's without paying down any of the debt. The IPO pretty much confirms PCH's concern over debt and wondering where PCH could get additional large sums of money while Apollo retains control over the company??

[newlondon]

I have not read the IPO prospectus and don't intend to, but improving a balance sheet certainly is one reason for selling equity.

Another reason, however, might be to take advantage of a strong stock market (ipos included). Look at the performance of RCL, and even CCL despite their recent troubles.

[Mark_K]

Am I missing something that to everyone else is blindingly obvious?

 

 

 

I ask because whether a company goes belly-up between my booking and taking the holiday is one of the last things I would consider.

 

 

 

And why would that question be any less appropriate if applied to Seabourn, Virgin Atlantic, Four Seasons hotels or even J C Penney? Or any other company you care to name. My goodness, I think you would need to be very paranoid to question the financial integrity of every company you were going to go on holiday with. What a strange inquiry.

It seems like every few years some smaller cruise line or other ceases operations, so it is something to at least be aware of. Some reasons it matters more for cruises lines is the relative amount you're paying, and the fact that you could be paying it out four months or more before you get the product.

 

 

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[Tothesunset]

It seems like every few years some smaller cruise line or other ceases operations, so it is something to at least be aware of. Some reasons it matters more for cruises lines is the relative amount you're paying, and the fact that you could be paying it out four months or more before you get the product.

 

 

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Yes, I see. Now I understand the concern. I suppose for UK based bookings it demonstrates the wisdom of paying by credit card.

[Older Party]

Yes, I see. Now I understand the concern. I suppose for UK based bookings it demonstrates the wisdom of paying by credit card.

 

While I'm not one to question the financial health of any company I don't invest in, I do make it a habit to purchase ALL big ticket items through American Express. I have had refunds from AmEx for many things that were either misrepresented, or did not happen, or was broken upon arrival, etc. It is such a simple process. You go online, click on the transaction, and file a complaint. They immediately remove the charge, then launch an investigation. If they find the complaint warranted, you never see the charge again. Sometimes, the merchant will refund 50 or 75%. In the case of a partial refund, the balance due the merchant after the investigation then goes back on the card. It is an effortless process.

 

I can't stress enough how great AmEx is, especially for big ticket items like cruises!

[rallydave]

While I'm not one to question the financial health of any company I don't invest in, I do make it a habit to purchase ALL big ticket items through American Express. I have had refunds from AmEx for many things that were either misrepresented, or did not happen, or was broken upon arrival, etc. It is such a simple process. You go online, click on the transaction, and file a complaint. They immediately remove the charge, then launch an investigation. If they find the complaint warranted, you never see the charge again. Sometimes, the merchant will refund 50 or 75%. In the case of a partial refund, the balance due the merchant after the investigation then goes back on the card. It is an effortless process.

 

I can't stress enough how great AmEx is, especially for big ticket items like cruises!

 

Totally agree how great Am Ex in circumstances like this and I have even been able to have them partially credit me when the merchant refused any refund and it was a small amount.

 

However, for large purchased like a cruise, did have issues with a particular cruise line who will remain unnamed and they came up with all types of false statements to justify the charges which Amex had no choice but to return to my account. Immediately called Amex and gave reasons why the credit should again be put on my account. Amex reopened the case and the cruise line failed to respond within the time limits imposed by Amex and the credit remained on my account Guess I was simply lucky as sure had the cruise line had a better response group they would have provided similar misrepresentation and the charges would have gone back on my account.

 

Lesson learned, keep reopening the issue if you truly believe you are correct and eventually the company will fail to reply in time and you get your credit or Amex will compromise and provide a partial credit. Absolutely great company to deal with and why I keep paying them after 44 years!!!!

[Older Party]

Totally agree how great Am Ex in circumstances like this and I have even been able to have them partially credit me when the merchant refused any refund and it was a small amount.

 

However, for large purchased like a cruise, did have issues with a particular cruise line who will remain unnamed and they came up with all types of false statements to justify the charges which Amex had no choice but to return to my account. Immediately called Amex and gave reasons why the credit should again be put on my account. Amex reopened the case and the cruise line failed to respond within the time limits imposed by Amex and the credit remained on my account Guess I was simply lucky as sure had the cruise line had a better response group they would have provided similar misrepresentation and the charges would have gone back on my account.

 

Lesson learned, keep reopening the issue if you truly believe you are correct and eventually the company will fail to reply in time and you get your credit or Amex will compromise and provide a partial credit. Absolutely great company to deal with and why I keep paying them after 44 years!!!!

 

This is very interesting! I recently reopened an investigation where the merchant offered 75% to settle. Keeping fingers crossed the merchant doesn't reply in time as I believe I deserve a full refund! :D

[Emtbsam]

Is this yet another reason to buy trip insurance from an independent insurance company?

[oregon50]

AMEX can do these credits because of the amount of hold they put against the seller. Goes up and down depending on creditworthiness of the client and I've always wondered what the chart on SS looks like. I'm guessing the hold was much higher two years ago than it is today.