"Even so, Azamara remains a strong brand with its own tremendous potential for growth, and Sycamore's track record demonstrates that they will be good stewards of what the Azamara team has built over the past 13 years." In conjunction with the transaction, Azamara Chief Operating Officer Carol Cabezas has been appointed President of the brand. The transaction will result in a one-time, non-cash impairment charge of approximately $170 million. The sale of Azamara is not expected to have a material impact on Royal Caribbean Group's future financial results. Royal Caribbean Group Chief Financial Officer Jason Liberty said the decision to sell Azamara was not driven by the global health crisis, but was something they were exploring for a while. "It allows us to really prioritize our resources, which are not just financial resources -- it's also the minds and time of management," Mr. Liberty told The Wall Street Journal.