LOS ANGELES, SEPTEMBER 17, 2015 – Crystal Cruises’ parent company Genting Hong Kong, a leading global cruise and resort company, has entered into an agreement to acquire Lloyd Werft, a shipyard in Bremerhaven, Germany, in a deal that will see the company invest 17.5 million (EURO) for 70% of the new shipbuilding business and a 50% ownership of the shipyard’s land. Under the terms of the agreement, Genting Hong Kong will complete the acquisition of Lloyd Werft subject to the fulfilment of certain final purchase conditions.
“Lloyd Werft has built and lengthened six of the ships owned by an affiliate of the company and has the expertise to build a series of world class cruise ships for the company, which will include the ‘Exclusive Class’ vessels for Crystal Cruises, the world’s most awarded luxury cruise line,” said Tan Sri Lim Kok Thay, Chairman and Chief Executive Officer, Genting Hong Kong. “Ownership in Lloyd Werft will enable Genting Hong Kong to leverage on the shipyard’s technical expertise and their well-established and long track record in the shipbuilding industry.”
On July 19, Crystal Cruises announced plans for the most significant brand expansion in the history of luxury travel and hospitality with the introduction of Crystal Yacht Cruises (December 2015), Crystal River Cruises (2017), Crystal Exclusive Class cruise ships (late 2018) and Crystal Luxury Air (2017).
“With such great anticipation for Crystal River Cruises and Crystal Exclusive Class ocean vessels, we are incredibly excited about Genting’s groundbreaking investment in the Lloyd Werft shipyard that will contribute mightily to Crystal Cruises’ expansion,” said Edie Rodriguez, Crystal’s president and CEO.
Genting Hong Kong signed a letter of intent earlier this year with Lloyd Werft to build Crystal’s Exclusive Class which are polar class cruise ships. In addition to the luxurious traveler’s suites, the ships will effectively launch Crystal Residences, with 48 private homes and featuring all the signature amenities of a luxury ship or yacht. Lloyd Werft will also build the collection of luxury river yachts, boasting large guest suites, spacious public spaces, and innovative itineraries and activities in destinations throughout France, Germany, Switzerland, Holland, Belgium, Austria, Slovakia, Hungary, Croatia, Serbia, Romania and Bulgaria.
For more information and Crystal reservations, contact a travel agent, call 888-799-4625, or visit www.crystalcruises.com. Join the thousands who follow the Crystal Cruises Facebook page and @crystalcruises on Twitter and Instagram to engage in the conversation with #crystalcruises.
For more information about Genting Hong Kong, please visit www.gentinghk.com.
About Crystal Cruises
Crystal Cruises is the world’s most awarded luxury cruise line, having earned more “World’s Best” accolades than any other cruise line, hotel, or resort in history. Crystal Cruises has won “World’s Best Cruise Ship” in Condé Nast Traveler’s Reader Choice Awards for 21 years; been voted “World’s Best Large Ship Cruise Line” by Travel + Leisure readers for 20 consecutive years; and the “Best Luxury Cruise Line” by Virtuoso (2014 and 2015). In summer 2015, Crystal embarked on the most significant brand expansion in the history of luxury travel and hospitality, which will introduce three new classes of cruising – Crystal Yacht Cruises (December 2015), Crystal River Cruises (March 2017), Crystal Exclusive Class Ocean Cruises (late 2018) and Crystal Luxury Air (2017).
About Genting Hong Kong Limited (“Genting Hong Kong”)
Genting Hong Kong is a leading corporation principally engaged in the business of cruise and cruise related operations along with leisure, entertainment and hospitality activities.
Taking on a bold initiative to grow the Asia-Pacific as an international cruise destination, Star Cruises has built its reputation on offering first-rate Asian hospitality servicing an international clientele and travelling to various ports of call throughout the region. Newly acquired Crystal Cruises is the world’s leading luxury cruise provider, having earned more “World’s Best” awards than any other cruise line, hotel, or resort in history. Genting Hong Kong also has an equity stake in Norwegian Cruise Line, a diversified cruise operator of global cruise lines with a combined fleet of 21 ships.
Genting Hong Kong’s first foray in a land-based attraction, Resorts World Manila opened its doors in the Philippines to the public in August 2009. Resorts World Manila is one of the premier leisure brands under the Genting Group and the Philippines’ first one-stop, nonstop vacation spot for topnotch entertainment and world-class leisure alternatives, featuring three hotels including a six star all-suite Maxims Hotel, an iconic shopping mall, four high-end cinemas and a multi-purpose performing arts theatre.
About Lloyd Werft
Lloyd Werft was founded in 1857 and initially focused on the general ship repair business, moving into the conversion and newbuilding businesses in the 1970s. The yard, situated on 260,000 square meters and comprising of six docks and a 1,600 meter pier, has an impressive track record for newbuilding including cruise vessels for Norwegian Cruise Line including Pride of America, Norwegian Sky and Norwegian Sun, mega yachts such as the MY Luna, pipe-laying vessels and merchant ships. Lloyd Werft also completed the conversions of a number of vessels including the Queen Elizabeth 2 for Cunard Line.