Royal Caribbean Group pledges interest-free loans of $ 40 million to support travel agents
The Royal Caribbean Group on Monday announced a $ 40 million “Pay It Forward” program to support travel counselors hit hard by the travel slowdown during the current global health crisis.
The second phase of the RCL CARES program, Royal Caribbean Group recognized that after nine months without cruises, the travel agency industry is suffering as much as the cruise lines.
The new program makes a $ 40 million pooled fund available to qualifying travel counselors, who can apply for three-year interest-free loans of up to $ 250,000 to keep their business focused on getting back to life. growth.
Much like cruise lines, travel counselors have felt the strain for most of 2020. Royal Caribbean Group believes the travel industry will eventually recover, but this interim period of downturn in business is a critical time.
Details on the application process for the program would be shared directly with travel counselors in January.
“We know our travel consultant friends are suffering as well and we will go through this difficult time together, as we always have,” said Richard Fain, President and CEO of Royal Caribbean Group. “Our travel partners have been with us for over 50 years and we are determined to be there for them now. We will get to the other side of this difficult time together.
In April 2020, Royal Caribbean Group launched RCL Cares as a travel agent support program to provide resources to travel professionals.
Royal Caribbean Group offers financial assistance in an emergency, such as when a hurricane hits one of the islands that ships visit. Likewise, the travel agent industry is an essential element that supports cruise lines and RCG wishes to mobilize for them.