Genting Completes Acquisition of Crystal; Announces Promotions

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Genting Hong Kong (GHK) today announced that it has completed the acquisition of Crystal Cruises from Nippon Yusen Kabushiki Kaisha (NYK), for a total transaction of US$550 million. GHK also announced a new Chairman of Crystal and promotions for Crystal’s current senior management team.

Tan Sri Lim Kok Thay, executive chairman of the Genting Group and the former chairman of Norwegian Cruise Line, assumes the position of chairman of Crystal, replacing Nobuyoshi Kuzuya who will return to NYK in a key executive position. Edie Rodriguez, a 34-year travel industry veteran who was previously president and COO will be promoted to president and CEO. Thomas Mazloum, a 20-plus year veteran of Crystal’s management team who was previously executive vice-president will be promoted to COO.

Established in 1993, GHK is part of the Genting Group, a global hospitality and leisure company with business in over 20 countries, including the United States in New York, Florida and Nevada. GHK wholly owns Star Cruises and is a major shareholder of Norwegian Cruise Line. GHK is a public company primarily listed on the Hong Kong Stock Exchange and secondarily on the Singapore Stock Exchange.

Crystal launched service with the Crystal Harmony in 1990, with sister ships Crystal Symphony and Crystal Serenity joining the fleet in 1995 and 2003, respectively. Since the Harmony’s sale in 2005, the line has operated global itineraries with the two remaining ships.

Genting to buy Crystal Cruises and finance new ship

Crystal Serenity

Genting Hong Kong has agreed to acquire Crystal Cruises from NYK Line for $550 million in cash, and the buyer said that a third ship is in the works for the two-ship line. 

Crystal’s previous newbuild was the Crystal Serenity, delivered in 2003.

Genting’s CEO, Tan Sri Lim Kok Thay, said that Crystal’s current management and crew will remain.

“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,” said Star Cruises’ CEO.

Genting is the parent of the largest cruise line in Asia. It also owns a piece of Norwegian Cruise Line. The Crystal acquisition is due to close in the second quarter.

Crystal President Edie Rodriguez said, “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.”

Japanese shipping company NYK Line has owned Crystal since the brand was created in 1988. Crystal operates the 922‐passenger Crystal Symphony (launched in 1995) and the 1,070‐passenger Crystal Serenity (launched in 2003).

Construction starts on Star Cruises megaship

Star Cruises has cut the first steel for a 4,500-passenger ship scheduled for delivery in the fall of 2016.

The unnamed ship, and a similar one due to enter service in fall 2017, will sail in Asia.

The Meyer Werft shipyard in Papenburg, Germany, is building the vessels, which will be the largest by far in the Star Cruises fleet at 151,000 gross tons. Today, the line’s largest ship is the SuperStar Virgo, at 75,000 gross tons and capacity for about 2,000 passengers.

“The delivery of these two newly commissioned mega cruise ships will enable us to continue to strengthen and further enhance our competitiveness across our key source markets,” said Tan Sri Lim Kok Thay, CEO  of Genting Hong Kong, the company that owns Star Cruises.

One of ship’s unique features will be a “street night market” with hawker stalls serving delicacies from various Asian countries. The megaship also will have a theater and a water park with slides.