Luxury line Crystal Cruises suspends operations for three months amid financial trouble
Crystal Cruises is suspending operations for at least three months in the wake of a financial crisis at its parent company, Genting Hong Kong.
The Miami-based luxury line announced late Wednesday that it would halt operations in the coming days for all three of its vessels currently operating -- Crystal Serenity, Crystal Symphony and Crystal Endeavor -- through April 29.
The line's five river ships, which aren't currently sailing, also will go into an extended hiatus. Instead of restarting operations for the spring in March, as is normal, they will remain out of service through the end of May, the company said.
"Suspending operations will provide Crystal’s management team with an opportunity to evaluate the current state of business and examine various options moving forward," the line said in a statement sent to TPG.
The line added that all three Crystal ships currently in operation will complete their current voyages before suspending operations.
Crystal Symphony and Crystal Serenity currently are sailing in the Caribbean on sailings that end Saturday and Jan. 30 in Miami and Aruba, respectively.
Crystal Endeavor, an "expedition" ship designed for adventurous sailings in remote places, currently is sailing in Antarctica and will end its current sailing in Ushuaia, Argentina, on Feb. 4.
The announcement from Crystal came just hours after parent company Genting Hong Kong said it was running out of cash and soon could shut down a significant part of its worldwide operations.
Genting Hong Kong early Wednesday said it had filed what is known as a winding-up petition with a court in Bermuda to appoint provisional liquidators who can sell off or shut down parts of its business as part of an orderly restructuring.
Genting Hong Kong, which owns Asia-based Dream Cruises and Star Cruises as well as Crystal, has been struggling financially ever since the COVID-19 pandemic forced a worldwide shutdown to cruising in early 2020.
“This was an extremely difficult decision but a prudent one given the current business environment and recent developments with our parent company, Genting Hong Kong,” Crystal president Jack Anderson said in a statement sent to TPG.
In the statement, Anderson suggested Crystal's suspension was a temporary situation.
“Crystal has been synonymous with luxury cruising for more than 30 years, and we look forward to welcoming back our valued guests when we resume operations," Anderson said. "We wish to thank our guests and travel advisors for their incredible support during these ongoing challenging times.”
As of Wednesday afternoon, the line continued to sell sailings as far out as 2024 on its website.
Crystal said the line's customers and travel agents were being notified of the suspension.
The line said it would provide passengers on canceled sailings a full refund of the cruise fare paid, which will be processed automatically to the original form of payment. If the cruise was paid via a future cruise credit, the full value of the credit would be returned to customers.
In a filing with the Hong Kong stock exchange, Genting Hong Kong Wednesday said some of its business activities including “but not limited to” the operations of Dream Cruises would continue as its liquidators pursue a financial restructuring “in order to preserve and protect the core assets and maintain the value” of these assets during the process.
But it said it expected the majority of its existing operations to “cease to operate.”
The filing did not mention the fate of Crystal specifically.
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| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
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There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.