Last updated: 11:15 AM ET, Thu July 02 2015

Genting Hong Kong Completes Purchase of Crystal Cruises

Cruise Line & Cruise Ship | Crystal Cruises | Theresa Norton | May 15, 2015

Genting Hong Kong Completes Purchase of Crystal Cruises

PHOTO: The Crystal Symphony, pictured in Australia, and Crystal Serenity could be getting a new fleetmate by 2018. (Courtesy of Crystal Cruises)

Genting Hong Kong closed on its $550 million purchase of Crystal Cruises and promptly named Tan Sri Lim Kok Thay chairman, Edie Rodriguez president and CEO, and Thomas Mazloum chief operating officer. Genting also reiterated plans for a new ship by 2018.

The management team promised “a streamlined transition and virtually no interruption in operations” after the acquisition of the two-ship luxury line from Nippon Yusen Kabushiki Kaisha (NYK).

Tan Sri Lim Kok Thay is executive chairman of the Genting Group and the former chairman of Norwegian Cruise Line. He replaces Nobuyoshi Kuzuya, who will return to NYK in an executive position.

Rodriguez previously was president and chief operating officer. Mazloum, a 20-plus-year veteran of Crystal’s management team, most recently was executive vice president.

“Genting Hong Kong is delighted and honored to add Crystal to our global hospitality and leisure brands,” said Tan Sri Lim Kok 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.”

The purchase was announced on March 3. At that time, Rodriguez told TravelPulse that there will be no major changes. The company headquarters will remain in Los Angeles and the management team will ensure continuity and help guide growth.

“One-hundred percent, there will be no cutbacks; there will in fact be growth,” Rodriguez said on March 3. “There will be no cutbacks and nobody will be laid off or let go. It just means a fantastic, phenomenal opportunity for the future of Crystal Cruises.”

Established in 1993, Genting Hong Kong (GHK) is part of the Genting Group, a global hospitality and leisure company with business in over 20 countries, including the U.S. in New York, Florida and Nevada. GHK wholly owns Star Cruises in Asia 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 operates the Crystal Symphony and Crystal Serenity, which entered service in 1995 and 2003, respectively. Its first ship, the Crystal Harmony, left the fleet in 2005.

Crystal Cruises has won “World’s Best Cruise Ship” in Condé Nast Traveler’s Reader Choice Awards for 21 years and has been voted “World’s Best Large Ship Cruise Line” by Travel + Leisure readers for 19 consecutive years and the “Best Luxury Cruise Line” by Virtuoso.

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