Genting Hong Kong

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Genting Hong Kong
Public
Industry Tourism, Resorts, Cruise
Founded 1993
Headquarters Hong Kong
Brands
Parent Genting Group
Website http://www.gentinghk.com

Genting Hong Kong is a holding company that operates cruise and resort businesses. It is a member of the Malaysian Genting Group and 17.8% owned by Genting Berhad.[1] It owns Crystal Cruises, Dream Cruises, Star Cruises, Resorts World Manila, the Lloyd Werft shipyards, and maintains a 28% share of Norwegian Cruise Line.

Cruise lines[edit]

Star Cruises, established by Genting in 1993, is the third largest cruise line in the world with a fleet of 18 ships.[2] Genting positions Star Cruises for the "contemporary cruise market".[3]

In 2000, Genting's Star Cruises purchased Miami-based Norwegian Cruise Line, but sold half of the company to Apollo Management in 2007.[4] A 2013 IPO of Norwegian Cruise Line reduced Star Cruises' ownership share to 28%.[5]

In 2015, Genting purchased Crystal Cruises,[6] which specializes in the "international luxury cruise market",[3] and a majority stake in Lloyd Werft, a German shipyard that was, As of May 2016, under contract to build 10 ships for Genting-owned cruise lines.[3] In November of that year, Genting announced the introduction of Dream Cruises, an Asian luxury cruise line that will debut in November 2016.[3][7]

In 2016, Genting purchased the remaining 30% of Lloyd Werft,[8] as well as Nordic Yards' Wismar, Warnemunde, and Stralsund shipyards, and combined them to form the Lloyd Werft Group.[9]

Resorts[edit]

Genting Hong Kong partnered with Philippines-based Alliance Global Group to establish Resorts World Manila. It is located across Terminal 3 of Ninoy Aquino International Airport. It houses three hotels: Maxims Tower, Marriott Hotel Manila, and Remington Hotel. The Newport Mall is part of this resort and includes the Newport Cinemas and the 1,500-seat Newport Performing Arts Theater.

Genting Hong Kong is based in Hong Kong and is listed on the Hong Kong Stock Exchange (SEHK: 0678) and the GlobalQuote of the Singapore Exchange Securities Trading Limited.

References[edit]

  1. ^ "Genting Group is Malaysia's leading multinational corporation". genting.com. Retrieved 11 May 2016. 
  2. ^ "Star Cruises". travelmasti.com. Retrieved 11 May 2016. 
  3. ^ a b c d "Genting Hong Kong Announces Order of Two “Global Class” Ships for Star Cruises, the Largest to be Built in Germany, for Delivery Between 2019 and 2020" (PDF). Star Cruises. Genting Hong Kong Limited. 10 May 2016. Retrieved 11 May 2016. 
  4. ^ "Apollo invests $1billion in NCL Corp to take 50% stake". Cruise Business Review. 2007-08-17. Archived from the original on September 29, 2007. Retrieved 2007-08-17. 
  5. ^ "Norwegian Cruise Line Holdings Ltd. - Quarterly Report". ncl.com. Retrieved May 11, 2016. 
  6. ^ Sloan, Gene (March 3, 2015). "Shake-up in luxury cruising as Crystal gets new owner". USA Today. Retrieved April 12, 2015. 
  7. ^ "GENTING HONG KONG LAUNCHES "DREAM CRUISES"– ASIA’S FIRST PREMIUM CRUISE LINE BRAND AND EXPERIENCE". Online Promos (Press release). Star Cruises. 11 November 2015. Retrieved 11 May 2016. 
  8. ^ "Genting Hong Kong Takes Remaining Stake in Lloyd Werft". World Maritime News. Retrieved 11 May 2016. 
  9. ^ "Aktuelles - Pressemitteilungen - Lloyd Werft Bremerhaven". lloydwerft.com. Retrieved 11 May 2016.