The auction of the Pullmantur Cruises brand ended with no successful bids. Part of the company’s liquidation process, the auction had been announced in early February.
According to reports in the Spanish media, the insolvency administrator of the former cruise line was approached by potential buyers during the tender process.
No binding offer, however, was officially placed and the auction ended with no winner.
The process had minimum bids fixed at 177,000 euros, with interested parties also required to submit a full payment schedule.
Potential buyers needed to submit an operation structure as well, in addition to the business plans that they intended to develop with the Pullmantur Cruises brand.
After the end of the tender process period in late March, the administrator told Spanish authorities that a new auction will be required for the sale of the brand.
The auction process won’t fix a minimum bid, said El Economista, a Spanish website who had access to Pullmantur’s insolvency documents.
Founded in Spain in the early 2000s, Pullmantur Cruises filed for reorganization amid the COVID-19 operational pause in 2020.
With a fleet of three ships, the brand offered different itineraries across the Mediterranean, the Caribbean, South America and the Middle East.
Serving different markets in Latin America and Europe, the brand had been operating as a joint venture between the Royal Caribbean Group and the Springwater Capital investment group since 2016.
While different efforts for a comeback were made by involved parties, the operators of Pullmantur’s insolvency decided to shut down and liquidate the cruise line in 2021.
The Spanish brand was well known for its all-inclusive concepts, with a selection of alcoholic and non-alcoholic beverages included in the basic cruise fare.
In the past, the Pullmantur Group also owned other ventures, including its French cruise brand Croisières de France, and a land-based tour operator. For several years, the company also owned and operated its own airline, Pullmantur Air.
