Since the start, it's been our aim to provide the latest cruise news covering all the major cruise lines. The payment was due from subsidiaries of the company related to new vessels, and the failure to pay the fees puts the subsidiaries into default, the company said. The line hasn’t operated cruise departures since March, nor has Genting Hong Kong’s Star Cruises division. Cruise Hive was established back in 2008 and among the earliest blogs in the industry. Many of the credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. Sims and three of her friends canceled a Crystal sailing on March 25 and are owed thousands of dollars from the line. The company said it hoped to negotiate a restructuring of its debt with creditors. Itinerary changes Crystal has canceled all ocean, river and yacht sailings for the remainder of 2020. FlyerTalker. Additional resources for cruisers during the coronavirus outbreak: Featured image courtesy of Crystal Cruises, CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners. Genting Hong Kong is majority owned by Malaysian tycoon Tan Sri Lim Kok Thay. Exclusive deals from America’s #1 agent network. The company is contending with a sharp loss of revenue due to the coronavirus crisis. The announcement came two days after the company missed a 3.7 million euro payment of fees related to the construction of certain ships. A line-by-line guide, Why you shouldn’t expect bargain-basement cruise deals anytime soon, How to cancel or postpone a cruise due to coronavirus, Some of the year’s hottest new ships could be delayed, Stream these 13 movies, television shows to get your cruise ship fix, credit card that will maximize your rewards. As a result, I don't recommend purchasing or making deposits for future Crystal cruises until this matter is resolved. “The financial stress may push the owner to sell the asset, or liquidate the entire firm,” CEB International Investment Corp. head of research Banny Lam told Bloomberg overnight. Crystal Symphony Fact Sheet » Crystal Serenity Fact Sheet » Crystal Mahler Fact Sheet » Crystal Bach Fact Sheet » Crystal Debussy Fact Sheet » Crystal Ravel Fact Sheet » Crystal Endeavor Fact Sheet » Crystal Esprit Fact Sheet » Crystal Skye Fact Sheet » © The company was founded in 1988 by Nippon Yusen Kaisha (NYK). On curated voyages the world over, a commitment to contemporary luxury offers a superior level of personalized service, exceptional dining and all-inclusive amenities. Talk of a possible collapse of Crystal Cruises was swirling on Thursday among travel agents and cruisers after the line’s parent company, Hong Kong-based Genting Hong Kong, disclosed that it had stopped making payments to creditors. The voyages only are open to Taiwanese travelers. Crystal is celebrating its 30th anniversary. Crystal has extended its relaxed booking policies to all 2021 voyages, including Crystal Cruises, Crystal River Cruises, Crystal Yacht Cruises and Crystal Expedition Cruises. This site does not include all credit card companies or all available credit card offers. The Points Guy will not sell your email. Crystal Cruises News & Media This luxurious Boeing 777 private jet normally costs $50,000 per hour but is flying medical cargo in the COVID-19 airlift. The Points Guy has received a significant number of complaints from readers in recent months about Crystal Cruises not sending them refunds for canceled trips. These policies were previously implemented for voyages through June 2021 only. Here’s how long it will take, Some of the year’s hottest new ships could be delayed, Stream these 13 movies, television shows to get your cruise ship fix, AvGeekery for beginners: How to tell Boeing 787s and Airbus A350s apart, 6 ways the new COVID-19 relief bill impacts the travel industry, How points and miles will keep my ancestor’s memory alive in Italy, Blue Cash Preferred® Card from American Express, Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. “We have canceled hundreds of cruises and provided tens of millions of dollars of refunds,” Robison said recently. Posted in: News. Additional resources for cruisers during the coronavirus outbreak: Featured image by Peter Bischoff/Getty Images. October 01, 2020 Effective October 2, Jack Anderson will take the helm of Crystal Cruises as the company’s interim president and CEO, according to a press release. Crystal Cruises has been ranked based on an expert evaluation of the line's level of luxury, as well as an assessment of user reviews and health ratings. Link to post Share on other sites. Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article. Want to combine the luxury Crystal Cruises ships are known for with the intimate atmosphere and unique adventure offered by a river cruise? The parent company of Crystal Cruises, one of the world’s best-known luxury lines, is in financial trouble. One of the world’s best-known luxury cruise lines, Crystal Cruises, tried to assuage customer fears about its viability late Thursday by issuing a statement saying it wasn’t on the brink of shutting down. Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. The latest cruise news can help you pick the right cruise using over 278,308 cruise reviews by travelers and cruise experts. A spokesperson for Crystal Cruises, Susan Robison, has told The Points Guy on multiple occasions that the line continues to process refunds as fast as it can but has struggled with the sheer volume of refund requests. Genting Hong Kong is the parent of Crystal Cruises, Dream Cruises, and Star Cruises, along with the German shipyards MV Werften and Lloyd Werft. It also owns the Werften shipyard in Germany, where the first expedition ship for Crystal Cruises currently is under construction. Crystal recently canceled all sailings through early January 2021. The change at the top comes as Tom Wolber, Crystal’s president and CEO since September 2017, steps down to spend more time with his family and to “pursue other interests”.. “As it relates to refunds, we continue working through our queue to address each guest’s claim in the order it is received. Find the right agent for your trip." In a rare endeavour, Crystal Serenity has embarked on a … “The company’s remaining available cash will be reserved to maintain critical services for the group’s operations, while the company will endeavor to negotiate a holistic debt restructuring solution,” Genting Hong Kong said in a statement late Wednesday to the Hong Kong stock exchange. Crystal Yacht Cruises (Horizontal) # 3 in Best Cruise Lines for Couples That's $750 toward travel when you redeem through Chase Ultimate Rewards®. Cruise industry publication Cruise Week on Thursday reported that the Genting Hong Kong announcement had spooked travel agents who sell Crystal voyages. Rankings. For more cruise news, reviews and tips, sign up for TPG’s new cruise newsletter. *Bonus value is an estimated value calculated by TPG and not the card issuer. As the company’s first ever purpose-built river […] She said she was so fed up she just filed a dispute about the charges with American Express. “The company’s remaining available cash will be reserved to maintain critical services for the group’s operations, while the company will endeavor to negotiate a holistic debt restructuring solution,” Genting Hong Kong said in a statement late Wednesday to the Hong Kong stock exchange. Crystal cruises is will known for offering double the space per person of similar size ships. Related: 21 tips and tricks that will make your cruise go smoothly. In contrast to Crystal, American Express has been “amazing” in its response, she said. Crystal Symphony ranks #1 out of 2 Crystal Cruises Cruise Ships based on an analysis of expert and user ratings, as well as health ratings. Continue to share your photos with us: https://bit.ly/2AWQTNf Reply on Twitter 1309885446080598016 Retweet on Twitter 1309885446080598016 4 Like on Twitter 1309885446080598016 18 Twitter 1309885446080598016 Disclaimer: The responses below are not provided or commissioned by the bank advertiser. The parent company of Crystal Cruises, one of the world’s best-known luxury lines, is in financial trouble. Cruise lines have been hit hard financially in recent months as they have temporarily shut down operations due to the coronavirus pandemic. These are the best credit cards for dining out, taking out, and ordering in to maximize every meal purchase. Cruise industry executive Jack Anderson will take the helm of Crystal as the company’s interim president and CEO. While several major cruise lines have been named once or twice in complaints to TPG, Crystal in particular has repeatedly been mentioned, often in conjunction with five-figure outstanding refunds. The voyages only are open to Taiwanese travelers. Show full articles without "Continue Reading" button for {0} hours. Take a look inside Crystal Cruises' flying palace. Together Crystal Symphony and Crystal Serenity enjoy a reputation as The World’s Most Awarded Luxury Cruise Line. I would like to subscribe to The Points Guy newsletters and special email promotions. Hong Kong-based Genting Hong Kong late Wednesday said it had stopped making payments to creditors as it contended with a sharp loss of revenue due to the coronavirus crisis. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Since 2015, it has been a subsidiary of Genting Hong Kong History. Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Crystal Serenity begins month-long Northwest Passage journey. Well now you can thanks to the cruiseline’s revolutionary new vessel, the Crystal Bach. Previously scheduled November and December 2020 Crystal Serenity sailings to the Caribbean are now eligible for Crystal’s new offer of up to 80 … Genting Hong Kong is the parent company of Crystal Cruises as well as two Asia-based cruise lines: Dream Cruises and Star Cruises. © 2020 THE POINTS GUY, LLC. Lam added that a liquidation of the company was not very likely. In addition, it’s a joint venture partner in Resorts World Manila in the Philippines. August 1, 2020. In addition, it’s a joint venture partner in Resorts World Manila in the Philippines. This is a manual process and, where our reservation and payment systems can handle a normal refund environment efficiently and smoothly, they were not designed to handle this volume in such a short period of time.”. Activate by 12/31/21. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. Terms apply to the offers listed on this page. Related: How to book a cruise with points and miles. Analysts in Asia suggested Genting Hong Kong may try to sell assets, and a liquidation of the entire company was not out of the question. Find the right agent for your trip." Crystal Confidence 3.0 For 2021 sailings, the adjusted Crystal Confidence 3.0 policies relax the final payment deadline to 60 days prior to first date of service, while travelers who pay in full 90 days prior to first date of service will get an additional 2.5% off their cruise fare. The company’s Dream Cruises brand has recently resumed short sailings out of Taiwan with a single vessel, the 1,856-passenger Explorer Dream. Thank you Crystal Society Family Member Ricki Lyon le Vine for sharing this Sail Away Saturday photo from Crystal Symphony! The company owed creditors nearly $3.4 billion as of July 31. Please view our advertising policy page for more information. It said it would ask creditors “to refrain from taking any enforcement action so that the stakeholders of the group can have a stable platform to negotiate and implement the restructuring.”, Related: Coronavirus crisis claims another small cruise line, In its statement, the company said it had been trying to raise more money, but “there is currently a lack of certainty as to the outcome of the fundraising exercise.”. Sims said her in-house Crystal travel advisor had not responded to any of her queries about the refund. Like us on Facebook to see similar stories, Neighbor says Nashville bomber told him 'the world is never going to forget me', Bust of Breonna Taylor broken in downtown Oakland. A line-by-line guide, Why you shouldn’t expect bargain-basement cruise deals anytime soon, How to cancel or postpone a cruise due to coronavirus, Expecting a refund for a canceled cruise? This site does not include all credit card companies or all available credit card offers. Thanks to temporary card bonuses and changes due to coronavirus, you may even be able to score a meal at your favorite restaurant for free. Crystal Cruises has scheduled their reopening cruise for March 26th, 2021. Meet the Crystal Bach, the Newest of the Crystal Cruises Ships! Talk of a possible collapse of Crystal Cruises was swirling on Thursday among travel agents and cruisers after the line’s parent company, Hong Kong … Crystal Cruises says it’s ‘not going out of business,’ still processing refunds. Crystal Cruises News . Hong Kong -based Genting Hong Kong late Wednesday said it had stopped making payments to creditors as it contended with a sharp loss of revenue due to the coronavirus crisis. “It’s been 135 days, and we have still had no resolution (i.e., refund), or any contact from Crystal Cruises,” one reader, Phyllis Sims of Baton Rouge, Louisiana, wrote us several days ago. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. (cruisecritic.com) Four small cruise lines already have gone out of business due to the coronavirus shutdown. With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories. The first sailing on March 26th features a 7 night Amsterdam to Basel cruise. Genting Hong Kong is the parent company of Crystal Cruises as well as two Asia-based cruise lines: Dream Cruises and Star Cruises. The line hasn’t operated cruise departures since March, nor has Genting Hong Kong’s Star Cruises division. We may receive compensation when you click on links to those products. In announcing that it had stopped making payments to creditors, the company said it hoped to negotiate a restructuring of its debt with the creditors. “We are not fans of a business using our money as a zero-interest loan, even with the pandemic,” Sims said. Crystal Cruises, which first launched on July 24, 1990 when Crystal Harmony sailed from San Francisco on a 12-day inaugural voyage to Alaska, pioneered the luxury cruising industry and set the stage for three decades of award-winning vacation experiences. Genting Hong Kong is a separate company to Genting Berhad, which owns Resorts World Las Vegas and other Resorts World properties in the U.S., Malaysia, Singapore, the UK and the Bahamas. Exclusive deals from America’s #1 agent network. The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. Related: Cruise executives say they are in no rush to return to service. The company said it planned to call a meeting of creditors to discuss restructuring and refinancing options. The news spooked travel advisors already concerned that Crystal had not refunded, in some cases, tens of thousands of dollars owed to their clients who had paid for cruises … Posted November 19. It also owns the Werften shipyard in Germany, where the first expedition ship for Crystal Cruises currently is under construction. In Insurance Marine News, Keep, Political Risk, Credit & Finance, Retail Luxury cruise line Crystal Cruises has assured customers that it was still processing refunds as quickly as possible and that the problems of its parent company Genting Hong Kong did … The early final payment savings deadline is normally six months. Travel agents and their customers also expressed worries about refunds they were owed for canceled sailings, given Genting Hong Kong had stopped paying its creditors. #1 Find breaking cruise news updated daily. TPG reached out to Crystal for information about its refund process and received this acknowledgment of the delay. Related: How to book a cruise with points and miles. For more cruise news, reviews and tips, sign up for TPG’s new cruise newsletter. For an explanation of our Advertising Policy, visit this page. Editorial Note: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. But the two companies are tied together by Lim, who owns a controlling stake in both of them. And when you do spend on dining, you should use a credit card that will maximize your rewards and potentially even score special discounts. The company did not say how much cash it still had on hand. Cruise Lines Modify Cancellation Policies For Better Flexibility; ... Whatever profits Crystal make from these new cruises won't be given to us. How to book a cruise with points and miles, 21 tips and tricks that will make your cruise go smoothly, Cruise executives say they are in no rush to return to service, When will cruising resume? “It is important to understand that the company is not going out of business,” the Miami-based line said in the statement. But in its statement, Crystal suggested refunds for canceled cruises continued to be processed. A RED VENTURES COMPANY. Tags: Crystal Cruises. Crystal Cruises is an American cruise line headquartered in Miami, Florida, United States. Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. “Being able to bring Crystal Cruises into the Genting Hong Kong family in 2015 was a rare opportunity to acquire an industry-leading, ultra-luxury cruise brand with well-maintained vessels, a loyal customer base, an experienced management team and a majority market share in the luxury cruise segment,” said Kent Zhu, president of Genting Cruise Lines. 18 August 2016 Cruise News. Either $5 or 5% of the amount of each transfer, whichever is greater. View our latest valuations here. ALL RIGHTS RESERVED. For example, 60,000 points are worth $750 toward travel. Reviews for 12 Travel Experts working with Vacation Express in Alabama. Company profile page for Crystal Cruises Inc including stock price, company news, press releases, executives, board members, and contact information It will be used to help pull Genting out of the hole they are in. They closed at just 30 Hong Kong cents — about 4 U.S. cents. This post contains references to products from one or more of our advertisers. The company owed creditors nearly $3.4 billion as of July 31. Crystal Cancels Remainder of 2020 Ocean, River Cruise Season. “And we are just as troubled by the lack of communication from Crystal Cruises.”. [citation needed] Its first ship was Crystal Harmony. She used The Platinum Card® from American Express to make the booking. In its statement, the company said it had been trying to raise more money, but “there is currently a lack of certainty as to the outcome of the fundraising exercise.”. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered. The payment was due from subsidiaries of the company related to new vessels, and the failure to pay the fees puts the subsidiaries into default, the company said. ‘Whatever option our parent company pursues, it will allow Crystal to operate its business.”. 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases. See, How to book a cruise with points and miles, Coronavirus crisis claims another small cruise line, When will cruising resume? The announcement came two days after the company missed a 3.7 million euro payment of fees related to the construction of certain ships. Reviews for 8 Travel Experts working with Amtrak Vacations in Alabama. The company’s Dream Cruises brand has recently resumed short sailings out of Taiwan with a single vessel, the 1,856-passenger Explorer Dream. “This could be the catalyst for agents and their clients to think twice about putting down deposits or final payments” for Crystal trips, it quoted one top travel seller as saying. Crystal River Cruises (Horizontal) Web Res 72 dpi, 479px by 141px large High Res 300dpi, 5.7″ by 1.7″. “Such events of default would give rise to a right for requisite creditors of the group to declare that the financial indebtedness owed to them are immediately due and payable,” the company noted. News. In its statement, the company warned that its suspension of payments to creditors would likely result in the company being considered in default of multiple debt obligations. Not only is Crystal Cruises laid up until next year, but parent company Genting also seems to be in some trouble. Crystal recently canceled all sailings through early January 2021. The line initially promised a refund within 90 days. “We have always been committed to honoring our contractual obligations with guests and travel partners, including the processing of refunds,” the line said. Includes eligible pick-up and delivery services. Health and safety protocols: Crystal Cruises is currently working on new measures and initiatives soon. The company did not say how much cash it still had available. SPONSORED: With states reopening, enjoying a meal from a restaurant no longer just means curbside pickup. Please view our advertising policy page for more information. Genting Hong Kong shares plunged nearly 38% in Thursday trading on the Hong Kong Stock Exchange. Find out when is the best time to book a cruise with Crystal Cruises, select the destination and we will help you identify the your perfect dream vacation. 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