Apollo Management L.p. Makes Strategic Investment In Oceania Cruises

[NHcruisers]

Hi Marra--

 

RELAX!!!!!

 

I do not know Frank Del Rio. I am not an Oceania cheerleader, although I have recently cruised on the Regatta and found their product to be very good. I would cruise with Oceania again, even though we normally cruise on Regent and Crystal.

 

Some people are conjecturing on what the Apollo INVESTMENT means w/o, IMHO, the experience to support their worse case scenarios.

 

I have run (as CEO) private and publicly traded companies for the last 25 years. I have raised over 600 million dollars in private equity placements and public offerings in the last 15 or so years. I also still do considerable work in the merger and acquisition field for the Board of Directors of Fortune 100 companies.

 

There is NOTHING that Oceania has done with seeking additional capital from Apollo that DOESN'T make sense from a financial perspective. There is also NOTHING that has been done that will affect the quality of product that Oceania is offering in the foreseeable future.

 

I could say alot more but my main comment to you is: RELAX!!!! You will be fine ...there will be no degradation of your cruise experience because of this recent investment/partnership with Apollo.

 

Although I have no business relationship with any cruise line today, I have been "courted' to consult to the Board of Directors of another line which I had to turn down a few years ago.

 

Everybody can have an opinion, but some are better informed or at least have opinions based on real world experience. It's up to you to determine who are the credible sources before you work yourself into a frenzy.

 

Your upcoming experience on Oceania will NOT BE AFFECTED in any way by Oceania's private equity placement.

 

Best regards--

Bill

[bdmagee]

I could not agree more with NHcruisers. It is great that we have a board like this to post our thoughts and opinions on these different matters.

 

I would assume that as a small, privately owned company, Oceania did not have the resources to expand as the crusing market required. They partnered with Apollo, and now have those funds to build the new ships. Its in neither Oceania's or Apollo's best interest to change what has made the cruise line so successful.

 

But I respect everyones opinion on the board.

[surfklutz]

It was Mr. Del Rio who did leave Ren before the bankruptcy not Mr. Watters. I have to say the timing was impeccable... If at first you don't succeed try, try again. Mr. Del Rio is an accountant/CPA/bean counter/ CFO. He has stated that the transaction will give them access to the capital markets they need...sure sounds like public offering / sale to me. Additionally, he says he wrote the press release regarding the sale himself

 

FDR Quote: .....

 

And, we nor Apollo has an ad agency, no lawyer "filtered" anything. I drafted the press release all by myself.

 

NO double talk, no euphimisms, no nuttin!!

 

It is what it is.

 

FDR

 

Company like that has no ad agency?? Accountants drafting press releases? What does Tim Rubacky do as Director of Communications??

 

from the Oceania web site....

 

Frank Del Rio, Chairman & Chief Executive Officer

 

Frank Del Rio is the Chairman & CEO of Oceania Cruises and is responsible for the financial and strategic development of the line. Based in the Miami, Florida headquarters, he oversees Marketing, Sales, Hotel, Marine and Financial activities. Prior to Oceania Cruises, Frank Del Rio played a vital role in the development of Renaissance Cruises, serving as Executive Vice President, Chief Financial Officer and Co-Chief Executive Officer from 1993 to April, 2001.

 

Oceania will be sold again!! probably sooner than later.

 

I am on the same page with you completely!

[LHT28]

I really am starting to get a little nervous about our cruise in May. When we booked the trip, everything was fine. Now with the influx of all these funds and FDR saying that everything will be fine, I'm reading that there are already changes being made. We have paid a lot of money for this cruise and our expectations have been made to be very high. I know that the cruise is only 6 weeks away and what can happen in that period, but we all know a lot can happen in six weeks.

 

I guess my question is, should we all expect to have the same quality of service in May on the Regatta, or should we expect something less because the new owners want to cut costs.

 

I am curious also

Did you hear they were cutting costs?

 

Certain people here even though they say they do not have an agenda are still stirring the pot!

[LHT28]

Found this article and I don't think FDR was even in the picture at the time of Ren's demise

 

http://www.accessmylibrary.com/comsite5/bin/pdinventory.pl?pdlanding=1&referid=2930&purchase_type=ITM&item_id=0286-6758958

 

At lot of companies did not survive after 9/11

[surfklutz]

Found this article and I don't think FDR was even in the picture at the time of Ren's demise

 

http://www.accessmylibrary.com/comsite5/bin/pdinventory.pl?pdlanding=1&referid=2930&purchase_type=ITM&item_id=0286-6758958

 

At lot of companies did not survive after 9/11

 

He left 4 months before the line went bankrupt.

 

I hope I am wrong about Oceanic - as I have said before, I understand that is offers excellent value and goes to great itineraries, offers great service and accommodations. The marketplace needs a company like Oceanic. I'm just sitting and watching for a few more months....that's all I'm saying.

[hondorner]

...but something in the back of my neck tells me ...

I personally find the reports, reviews and recommendations of dozens of passengers over hundreds of posts more reliable than whatever is in the back of your neck.

[LHT28]

There is an "ignore feature" on the forums...I am going to start utilizing it! :D

[Sykll]

There is an "ignore feature" on the forums...I am going to start utilizing it! :D

 

It works! No more reading trash! :D

[timbo89]

 

"All men make mistakes, but only wise men learn from their mistakes"

 

-Winston Churchill

[LauraS]

The beauty of this forum is that you can discuss this issue in as much depth as you'd like.

 

What you cannot do, however, is personally attack (that means say bad things about) another person -- which would include both your fellow members and employees/executives of cruise lines.

 

I think that is pretty clear...don't risk your posting privileges by posting derogatory statements towards any individual.

 

Thank you,

 

Laura

[tak2]

.....What you cannot do, however, is personally attack (that means say bad things about) another person -- which would include both your fellow members and employees/executives of cruise lines......

Laura

 

Thank you for removing that piece of offensive post this morning.

[Leonid]

It seems that those who do not want the new venture to succeed are out in force. It's the Could, Might, May crowd! Please, it's half full - not half empty. FDR has done a great job with O to date. Why not give him the benefit of your doubt. I am! Booked on a great sailing in May and again next March. The DW & I will keep sailing on O until such time that they give us reason not to sail with them. Think positive and positive experiences will happen.

[surfklutz]

I do want to apologize if I have offended anyone on these boards. It was not my intention.

 

I will also say that I know that Delrio went miles towards healing the agency community that was hurt by ren by re-embracing them. Everyone that works with him or for him, or those who know him have great things to say about him. I believe that Oceanic is a cruise line that has opened up a whole new niche. They are in a good position for success. I wish them great success - good business is good for everyone. Bad business is a blight on the cruise community. I want nothing more than all cruise lines serve their clients well and provide excellent vacations.

 

Happy sailing to all - and long live Oceanic!

[DaveFr]

I do want to apologize if I have offended anyone on these boards. It was not my intention.

 

I will also say that I know that Delrio went miles towards healing the agency community that was hurt by ren by re-embracing them. Everyone that works with him or for him, or those who know him have great things to say about him. I believe that Oceanic is a cruise line that has opened up a whole new niche. They are in a good position for success. I wish them great success - good business is good for everyone. Bad business is a blight on the cruise community. I want nothing more than all cruise lines serve their clients well and provide excellent vacations.

 

Happy sailing to all - and long live Oceanic!

I don't know about Oceanic but I say: Long live Oceania! :D

[dianancolin]

DaveFr you jumped in a few moments before I did. Oceania not Oceanic!

 

We researched a long time before booking the same cruise as you and what I can add to this discussion is just a little observation from personal experience. At the time of the demise of Renaissance Cruises we were in the travel business and Ren was trying to go it alone without using agents. Maybe there is a lesson there as I don't think they realised just how much business they were missing by bypassing the agencies. Whether it was a major contributor to their downfall I don't know, 9/11 was also a factor in many lives (ours included as that generated our decision to merge agencies and retire from the business) so that may also have factored in.

 

Oceania today is a very different story. According to our TA daughter they are respected as a cruise line not just for the quality of the product but also for the number of repeat cruisers that they generate. She tells us that Oceania fits into a very good niche - not mass market but equally not high priced luxury!

[surfklutz]

DaveFr you jumped in a few moments before I did. Oceania not Oceanic!

 

We researched a long time before booking the same cruise as you and what I can add to this discussion is just a little observation from personal experience. At the time of the demise of Renaissance Cruises we were in the travel business and Ren was trying to go it alone without using agents. Maybe there is a lesson there as I don't think they realised just how much business they were missing by bypassing the agencies. Whether it was a major contributor to their downfall I don't know, 9/11 was also a factor in many lives (ours included as that generated our decision to merge agencies and retire from the business) so that may also have factored in.

 

Oceania today is a very different story. According to our TA daughter they are respected as a cruise line not just for the quality of the product but also for the number of repeat cruisers that they generate. She tells us that Oceania fits into a very good niche - not mass market but equally not high priced luxury!

 

 

You are so right about the name - I get so confused between Oceanic, Oceania and Oceanus ( Cruise West's Ship ).

 

It is a brilliant niche if you ask me. People should know that it is a step above premium - but several steps below luxury. But you can't beat the prices or the itineraries.

[Liv4cruzin]

I am currently sailing on Regatta. And I find this sailing to be as enjoyable as it was this same time last year. Ship (although headed for drydock at the end of this sailing) still looks great. The service & food is as good as I've come to expect. Their weakness (if they have a weakness) is the lack of entertainment choices. Available venues being a big part of the problem here. Certainly there were mistakes back in the days of Ren. Building too many ships too quickly; the setbacks of 9/11. A few bad decisions; but they had the good sense to cut their loses before they bled themselves dry. They had (& still do have) a vision which is coming to fruition w/ the success of O. There's been a lot of acquisitions in the cruise industry over the years; & they don't all spell disaster. Those of us who enjoy this product, continue to support it. And we'll see how things go from there.