By
Rebecca Gibson |
Luxury cruise operator Crystal Cruises is to be acquired by Genting Hong Kong (GHK).
Crystal has been owned by Nippon Yusen Kabushiki Kaisha (NYK) since it was founded in 1988 and will be acquired for a US$550 million cash sum. The acquisition is expected to close in the second quarter of 2015.
Following the acquisition, GHK will fund a newbuild, which will expand Crystal’s fleet from two ships – Crystal Serenity and Crystal Symphony – to three.
“Crystal Cruises offers the epitome of luxury cruising and the service standard that all other cruise lines aspire to,” said Tan Sri Lim Kok Thay, chairman, CEO and acting president of GHK. “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’s reputation as the world’s leading luxury cruise line for decades to come.”
Crystal’s current management team and crew will continue to lead the brand and develop its partnership with the travel agent community.
“After 25 successful years with NYK, we are excited to have Genting Hong Kong as the new owner of Crystal Cruises,” said Edie Rodriguez, the line’s president and COO. “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, as we continue to position Crystal as the innovative leader in global luxury cruising.
Established in 1993, GHK is part of the Genting Group, a global hospitality and leisure company that operates in more than 20 countries. GHK wholly owns Asian cruise line Star Cruises and is a major shareholder of Norwegian Cruise Line.