Crystal Cruises has been sold for $550 million to the owner of Asia's largest cruise line and a major shareholder of Norwegian Cruise Line.
Crystal's parent company, Nippon Yusen Kabushiki Kaisha has sold the line to Genting Hong Kong, which owns Star Cruises. The deal is expected to close in the second quarter of 2015.
The acquisition is expected to close in the second quarter of 2015. The announcement said that "with the support of GHK’s financial strength and expertise in ship design, Crystal Cruises’ fleet size will expand with a new ship." For many year, travel agents have
asked Crystal about whether the line would build a new ship.
"After 25 successful years with NYK, we are excited to have Genting Hong Kong as the new owner of Crystal Cruises," Crystal president and COO Edie Rodriguez says in a statement accompanying the announcement.
Rodriguez says the planned expansion of the Crystal fleet under its new owner will allow for more itinerary and accommodation options.
“Crystal Cruises offers the epitome of luxury cruising and the service standard which all other cruise lines aspire to,” said Tan Sri Lim Kok Thay, Chairman, CEO and Acting President of GHK.
“The current management team and crew will continue to lead Crystal Cruises. 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 that together with Crystal’s six-star legendary service will reinforce Crystal’s reputation as the world’s leading luxury cruise line for decades to come.”
Established in 1993, Genting Hong Kong already owns Asia-based Star Cruises and is a major shareholder of Norwegian Cruise Line Holdings
, which owns Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises. It's part of the Genting Group
, a global hospitality and leisure company.
Crystal has won “World’s Best Cruise Ship” in Condé Nast Traveler’s Reader’s Choice Awards for 21 years and was voted “World’s Best Large Ship Cruise Line” by Travel+Leisure readers for 19 consecutive years.