Gentings Hong Kong has reached an agreement to buy ultra luxury cruise line Crystal Cruises from its current owner Nippon Yusen Kabushiki Kaisha.
Gentings, which currently owns Asia-based Star Cruises, is expected to complete the sale in the second quarter of 2015. Gentings is also reported to be planning a fleet expansion for Crystal.
The company has been sold for $550 million in cash, subject to adjustment before closing.
“After 25 successful years with NYK, we are excited to have Genting Hong Kong as the new owner of Crystal Cruises,” said Edie Rodriguez, president and COO 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, as we continue to position Crystal as the innovative leader in global luxury cruising. Additionally, Crystal’s veteran leadership, management and crew will continue to focus on our award-winning guest service and our strong partnership with the travel agent community – which now has a greater opportunity to grow their business with a larger menu of Crystal product offerings.”
“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. 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.”