One of the last assets of Pullmantur Cruises is set to be sold, as the company’s brand is being auctioned in Spain.

According to reports in local media, the insolvency administrators of the former cruise line are accepting bids for the brand name since Feb. 1.

The tender submissions will continue through March 27, with the value for minimum bids fixed at 177,000 euro.

Interested parties are requested to submit a payment schedule, in addition to an operation structure and the business plan that they intend to develop with the brand.

After evaluating the offer, Pullmantur’s insolvency administrator plans to complete the sale of the brand before the end of April.

The previous bhe brand filed for reorganization amid the COVID-19 operational pause in 2020.

Operating as a joint-venture between the Royal Caribbean Group and Springwater Capital since 2016, the cruise line saw its former fleet scrapped at Turkish shipbreakers soon after the process.

Following different comeback attempts – one including ships from Celebrity Cruises, Pullmantur ended up liquidated in 2021.

Founded in the early 2000s, Pullmantur Cruises operated as an independent brand before being sold to the Royal Caribbean Group in 2006.

With a strong presence in Spain and Portugal, the company remained under the U.S.-based corporation’s umbrella through 2016 – when Springwater Capital acquired a controlling stake of the brand and its main assets.

In the past, Pullmantur also had significant business in France, where it operated under the Croisières de France brand, and in Brazil, where it lastly operated through a partnership with CVC Viagens, a local tour operator.

Pullmantur was also strong in Colombia, where it offered year-round homeport operations, and other Latin America countries including Argentina, Costa Rica, Panamá, Venezuela and more.

The brand was known by its all-inclusive concepts, with a selection of alcoholic and non-alcoholic beverages included in the basic cruise fare.