Crystal Cruises sells for $550 million

Crystal Cruises is set to be sold for $550 million by its Japanese parent company Nippon Yusen Kabushiki Kaisha, to hospitality giant Genting Hong Kong (GHK).

The deal, worth $550 million in cash, will be closed during Australia’s winter season.

Genting has also said it will add a new ship to Crystal’s fleet, which currently comprises two vessels, Crystal Symphony and Crystal Serenity.

The Genting Group is not unfamiliar with the realm of cruising, already owning Asia-based Star Cruises and a major shareholder of Norwegian Cruise Line. It also has invested interests in and ownership of resorts, casinos and theme parks worldwide.

“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,” said Crystal’s chief operating officer Edie Rodriguez.

A spokesperson for GHK has spoken out to say that the current executive management team of Crystal Cruises will remain in place.

3 March 2015