Genting Hong Kong agrees to buy Crystal Cruises
Crystal Cruises is to get a new owner and an additional ship, after Japanese parent company Nippon Yusen Kabushiki Kaisha agreed to sell the line to hospitality giant Genting Hong Kong (GHK).
The deal, worth $550 million in cash, is slated to close in the summer.
Genting said it will add a new ship to Crystal Cruises’ fleet which currently features Crystal Symphony and Crystal Serenity.
The Genting Group also owns Asia based Star Cruises and is a major shareholder of Norwegian Cruise Line.
The firm also has interests in resorts, casinos and theme parks worldwide.
"After 25 successful years with NYK, we are excited to have Genting Hong Kong as the new owner of Crystal Cruises. The proposed expansion of our fleet will present our loyal Crystal Society members and new luxury cruise guests with more itinerary options, accommodation choices and exceptional vacation experiences," said Crystal’s chief operating officer Edie Rodriguez.
GHK chairman and chief executive Tan Sri Lim Kok Thay said: "Genting will provide financial resources and proven expertise in innovative ship design to build a new ship that will set the highest standard in luxury cruise ships. This new ship, together with Crystal’s legendary six-star service, will reinforce Crystal Cruises’ reputation as the world’s leading luxury cruise line for decades to come."
The current executive management team Of Crystal Cruises will remain in place, GHK said.
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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.
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