Cash-strapped Genting HK sells Zouk nightclub brand
Resort and cruise line operator Genting Hong Kong has offloaded nightclub and lifestyle brand Zouk.
The Singapore-based business has been sold to Malaysia’s Tulipa for $10 million.
However it is staying in the family.
Tulipa is owned by Lim Keong Hui, who is the son of Genting Hong Kong’s main shareholder.
The Zouk Group was acquired by Genting HK in 2015.
Genting HK reported a $742.6 million net loss for the first half of the year, mostly due to the pause in cruise ship operations.
Genting has debts of more than $3 billion and recently stopped paying creditors.
It said it is implementing new measures to give it a ‘reasonable prospect’ of meeting its financial obligations for the next year.
It also said it has already received interest for investment in one of its cruise brands.
Its cruise division operates Crystal Cruises, and Asia based brands Dream Cruises and Star Cruises.
Written by Ray Montgomery
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
TAP Air Portugal to operate 29 flights due to strike on December 11
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Airbnb eyes a loyalty program but details remain under wraps