Royal Caribbean and the Port of Galveston announced they have entered into a Memorandum of Understanding (MOU) for the development and operation of a new cruise terminal.
The new terminal will cover approximately 200,000 square feet on ten acres of land in the southeast section of the Port known as Pier 10. Improvements to the pier bulkhead and apron will be made to safely accommodate the cruise line’s largest vessels. In addition, a staging and loading area, bus and taxi staging areas and substantial parking will be constructed. The new state-of-the-art facility is anticipated to open in Fall 2021.
“Over the last 15 years, Royal Caribbean has brought over 2.4 million guests to Galveston driving an economic impact of $65 million each year. The development of a new terminal is crucial to our continued growth and expansion of the brand in the region,” said Michael Bayley, President and CEO, Royal Caribbean International. “We look forward to continuing our outstanding relationship with the Port of Galveston and are excited about our plans for a state-of-the-art facility with a bold new design and technological advancements that will considerably enhance our guest experience.”
The long-term lease negotiations could lead to a 60-year transaction: a 20-year initial term and four 10-year options.