Tuesday,  January 26, 2021  8:12 pm

Royal Caribbean Group launches $40M “Pay It Forward” program to support agents

  • Cruises
  •   12-21-2020  4:26 pm
  •   Pax Global Media

Royal Caribbean Group launches $40M “Pay It Forward” program to support agents
Pax Global Media

The Royal Caribbean Group has announced plans to launch "Pay It Forward," a second phase of its RCL CARES program, to support its travel advisors as they look to rebuild their businesses after a challenging 2020.

The program makes a $40 million pool of funds available to qualifying travel advisors, who can apply for three-year, interest-free loans of up to $250,000 to keep their businesses focused on a return to growth. 

“We know our travel advisor friends are suffering, too, and we will get through this tough period together, just as we always have,” said Richard Fain, Royal Caribbean Group’s chairman and CEO.  “Our travel partners have stood strong beside us for more than 50 years, and we are determined to be there for them now. We’re going to get to the other side of this challenging time together.”

Details coming in January

The pause in cruising has put a financial strain not only on cruise lines, but on "travel agencies large and small," the company said in a release. 

And while there is optimism that the travel industry will recover strongly post-pandemic, businesses still need financial wherewithal during this intervening period of slower-than-usual business.

The company said details about the application process for the program would be shared directly with travel advisors in January.

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