By
Rebecca Gibson |
Genting Hong Kong (GHK) has acquired luxury cruise operator Crystal Cruises from previous owner Nippon Yusen Kabushiki Kaisha (NYK) for US$550 million.
Crystal has been owned by NYK since it was founded in 1988 and currently operates two vessels, Crystal Symphony and Crystal Serenity. When plans for the acquisition were first revealed, it was announced that GHK would fund a newbuild to bring the fleet up to three ships.
Tan Sri Lim Kok Thay, executive chairman of the Genting Group, will replace NYK’s Nobuyoshi Kuzuya as chairman of Crystal.
“Genting Hong Kong is delighted and honored to add Crystal to our global hospitality and leisure brands,” said Thay. “We will ensure Crystal’s reputation as ‘The World’s Best and Most Awarded Luxury Cruise Line,’ by maintaining its integrity and work to continue elevating its status as the highest standard of luxury cruising. The current management team and crew will continue to lead Crystal’s six-star operation, while Genting will provide the financial resources and proven expertise in innovative ship design to deliver a new ultra-luxury ocean vessel by 2018.”
Meanwhile, Crystal’s former president and COO Edie Rodriguez has been promoted to president and CEO, while Thomas Mazloum, the line’s executive vice president has been appointed as COO.
“We are extremely grateful for the unwavering support of our former parent company, NYK and the wonderful leadership and guidance of Mr Kuzuya,” said Rodriguez. “We look forward to ushering in a new era of luxury cruising with GHK and with its support and reputation for creating world-renowned leisure, entertainment and hospitality properties, Crystal is set to embark upon new opportunities that will expand our offerings for our guests and travel partners, as well as broader opportunities for our wonderful team of Crystal employees on land and at sea.”
Established in 1993, GHK is part of the Genting Group, a global hospitality and leisure company with business in more than 20 countries. GHK wholly owns Asian operator Star Cruises and is a major shareholder of Norwegian Cruise Line.