Cole Thornton Posted August 31, 2014 #1 Share Posted August 31, 2014 http://www.cnbc.com/id/101960401 Link to comment Share on other sites More sharing options...
rvsullivan Posted August 31, 2014 #2 Share Posted August 31, 2014 They own Oceana and Regent Seven Seas. They claim to aim for high end cruising. They just went public in Jan of this year. 20% owned by the same investment company that owns NCL. Bet they won't start Freestyle if the purchase goes through!!!:D Link to comment Share on other sites More sharing options...
Seanote Posted August 31, 2014 #3 Share Posted August 31, 2014 Interesting, but not surprising since Apollo has ownership interests in both companies. I wonder what the "negotiations" are. Is Apollo negotiating with itself? Also, $3B for 8 ships and 6500 lower births sounds pretty steep. Link to comment Share on other sites More sharing options...
Cole Thornton Posted August 31, 2014 Author #4 Share Posted August 31, 2014 Interesting, but not surprising since Apollo has ownership interests in both companies. I wonder what the "negotiations" are. Is Apollo negotiating with itself? Also, $3B for 8 ships and 6500 lower births sounds pretty steep. They might be throwing in a few thousand lobsters. Link to comment Share on other sites More sharing options...
njhorseman Posted August 31, 2014 #5 Share Posted August 31, 2014 Interesting, but not surprising since Apollo has ownership interests in both companies. I wonder what the "negotiations" are. Is Apollo negotiating with itself? Also, $3B for 8 ships and 6500 lower births sounds pretty steep. Sounds more like a merger than an acquisition. Link to comment Share on other sites More sharing options...
CanadaTraveller Posted August 31, 2014 #6 Share Posted August 31, 2014 I have sailed concierge on Oceania and balcony on NCL and would choose NCL's product any day. Much better food, service and amenities. Yes, better food. And Oceania has country club casual, and the whole ship is freestyle dining with several specialty restaurants at no charge. So, that experience is very similar to Norwegian. So, if they adopt some of NCLs staff and training, Oceania could improve considerably. Oceania and regent have great itineraries. Sounds win/win. Hope it goes through! Sent from my iPad using Tapatalk HD Link to comment Share on other sites More sharing options...
BrPanthers99 Posted August 31, 2014 #7 Share Posted August 31, 2014 Steep price for what appears to be 6 older small ships Sent from my iPhone using Forums Link to comment Share on other sites More sharing options...
Seanote Posted August 31, 2014 #8 Share Posted August 31, 2014 I'm wondering how such a transaction would be structured and financed. Prestige's Tangible Net Worth is negative, technically insolvent. The company posted a profit in 2013 but lost money in previous years. The balance sheet already shows $1.5B in senior debt and has other debt obligations. Prestige certainly could not support a $3B LBO. Link to comment Share on other sites More sharing options...
cjknox Posted August 31, 2014 #9 Share Posted August 31, 2014 This is definitely a move to gain a foothold in the luxury/ultra luxury segment, it'll be interesting to see what the plan is for these two lines. Link to comment Share on other sites More sharing options...
Hikini Posted September 1, 2014 #10 Share Posted September 1, 2014 Interesting. Thanks for posting the link. Link to comment Share on other sites More sharing options...
PS Caledonia Posted September 1, 2014 #11 Share Posted September 1, 2014 Although I've never sailed on NCL and so cannot comment, I thought this thread was interesting when compared with the one on the Oceania Board... Link to comment Share on other sites More sharing options...
hondorner Posted September 1, 2014 #12 Share Posted September 1, 2014 They own Oceana and Regent Seven Seas. They claim to aim for high end cruising. They just went public in Jan of this year. 20% owned by the same investment company that owns NCL. Bet they won't start Freestyle if the purchase goes through!!!:D Full of misinformation. They don't "claim" high end cruising, they are acclaimed fot it. Regent is the most all-inclusive cruise line, and Oceania is considered "upper premium". They have NOT gone public; they filed the necessary papers preparatory to filing an IPO, which they have not yet implemented. It's NCL that is still 20% owned by Apollo; even after their IPO, Apollo holds approximately 70% of Oceania and a similar majority of Regent. Apollo created Prestige as a holding company for Oceania and Regent, and retained the management of the cruise lines intact. Of course they won't go Freestyle if the acquisition takes place; they invented it. Both cruise lines have completely open dining, whenever and with whomever you wish, at any time the restaurants are open. Moreover, the speciaty restaurants, while requring a reservation due to their popularity, are included in the base cruise fare; no fees. Neither line has "structured" activities. They are essentially more Freestyle than NCL. (I have 15 cruises on Oceania and Regent and am booked on Oceania's first 180 day World Cruise in 2015, and I'm Platinum on NCL). There us a lot more to be known about Oceania and Regent, such as they are known for the finest cuisine at sea, and they spend more per passenger for food than any other cruise lines. Oceania, in particular, is known as a "foodie's" cruise line. Contrary to NCL teaching Prestige any new tricks, the CEO of Prestige has acted as a consultant for NCL. if this acqusition actually happens, the smartest thing NCL could do is retain Prestige Management and keep their hands off. Link to comment Share on other sites More sharing options...
perkydebrajean Posted September 1, 2014 #13 Share Posted September 1, 2014 Although I've never sailed on NCL and so cannot comment, I thought this thread was interesting when compared with the one on the Oceania Board... After reading the thread on the Oceania Board, I think I'd rather cruise with NCL! People seem a lot friendlier! Link to comment Share on other sites More sharing options...
Travelcat2 Posted September 1, 2014 #14 Share Posted September 1, 2014 hondorner: Thanks for posting what I was going to post. Also wanted to add that Oceania has two new ships -- absolutely magnificent and Regent is in the process of building one. Hope that NCL cruisers will give Oceania and Regent customers a break. This is startling news to them. How would you guys react if NCL was being purchased by RCCL or Carnival? People need to vent. Plus, they are worried. One big difference between Oceania, Regent and NCL is that they are not class oriented as almost all mainstream and mid-stream cruise lines are. While NCL has sections of their ships that may be more luxurious than Regent or Oceania, they are only for people who pay a lot more money for them. On Regent (the cruise line I sail most), it does not matter if you are in the least expensive suite or the Master Suite, once you walk outside of your suite you are treated the same. Plus, since it is all-inclusive, no one sees your key card or knows which level of suite you are in. Granted, passengers in upper suites receive benefits that others do not receive but they are invisible ones. Also, Regent ships are very low key. There may be one venue in the evening that stays open late for dancing, etc. The ships are quiet. When school is in session most of our sailings have not had children. Others (also when school is in session) may have 4 or 5 kids. Many of us have not sailed on NCL but tend to think of it like we do Carnival -- very young people - young families - lots of kids, etc. So, if you see comments on the Regent board about wet t-shirt contests, etc., it is just misinformation about NCL. Again, please give us a break -- we really are nice people when you get to know us:) Link to comment Share on other sites More sharing options...
Cole Thornton Posted September 1, 2014 Author #15 Share Posted September 1, 2014 There's been lots of M&A activity for U.S. companies this year. It will be interesting to keep an eye on NCLH when the market opens up tomorrow after the long weekend. Link to comment Share on other sites More sharing options...
rvsullivan Posted September 1, 2014 #16 Share Posted September 1, 2014 (edited) Full of misinformation. They don't "claim" high end cruising, they are acclaimed fot it. Regent is the most all-inclusive cruise line, and Oceania is considered "upper premium". They have NOT gone public; they filed the necessary papers preparatory to filing an IPO, which they have not yet implemented. It's NCL that is still 20% owned by Apollo; even after their IPO, Apollo holds approximately 70% of Oceania and a similar majority of Regent. Apollo created Prestige as a holding company for Oceania and Regent, and retained the management of the cruise lines intact. Of course they won't go Freestyle if the acquisition takes place; they invented it. Both cruise lines have completely open dining, whenever and with whomever you wish, at any time the restaurants are open. Moreover, the speciaty restaurants, while requring a reservation due to their popularity, are included in the base cruise fare; no fees. Neither line has "structured" activities. They are essentially more Freestyle than NCL. (I have 15 cruises on Oceania and Regent and am booked on Oceania's first 180 day World Cruise in 2015, and I'm Platinum on NCL). There us a lot more to be known about Oceania and Regent, such as they are known for the finest cuisine at sea, and they spend more per passenger for food than any other cruise lines. Oceania, in particular, is known as a "foodie's" cruise line. Contrary to NCL teaching Prestige any new tricks, the CEO of Prestige has acted as a consultant for NCL. if this acqusition actually happens, the smartest thing NCL could do is retain Prestige Management and keep their hands off. Wow!! I took my info from the public pages, the ones noting they are near bankruptcy and for the first time in years have posted a small profit? Wonder if that has any affect on all this. Many posts complaining about the food quality (lack of). I have no first hand knowledge, just know the investors want NCL to input some money to try to salvage something. Hardly any ringing endorsements as to their quality or financials. I hope NCL can save them. If not, another one bites the dust? In reviewing your other posts I see you are a huge Oceania fan. I understand how upsetting this could be to have NCL take over a claimed "high end" cruise line. However, if they were doing well, I doubt the investors who have money in both the affected lines would push for NCL to take them over? Edited September 1, 2014 by rvsullivan Link to comment Share on other sites More sharing options...
EliseL Posted September 1, 2014 #17 Share Posted September 1, 2014 Wow on the Oceana board discussion of this they're saying NCL is "the lowest common denominator" among other things. To each there own. I've always loved NCL. Should be interesting to see how this pans out. Sent from my iPhone using Forums Link to comment Share on other sites More sharing options...
buggins0402 Posted September 1, 2014 #18 Share Posted September 1, 2014 (edited) Wow on the Oceana board discussion of this they're saying NCL is "the lowest common denominator" among other things. To each there own. I've always loved NCL. Should be interesting to see how this pans out. Sent from my iPhone using Forums Yes, let's see how this plays out. I'm another person, like Don, who has sailed both NCL and Oceania. Our favorite cruise is still our Holy Lands Jade. But we've moved onto O for the most part because of itineraries.....but, it if you read Don's message there is much on Oceania that will appeal to some hardcore NCL cruisers that want to explore a bit more. There are many on here that have noted the same NCL itineraries .....over and over and over... Edited September 1, 2014 by buggins0402 Link to comment Share on other sites More sharing options...
hondorner Posted September 1, 2014 #19 Share Posted September 1, 2014 (edited) Wow!! I took my info from the public pages, the ones noting they are near bankruptcy and for the first time in years have posted a small profit? Wonder if that has any affect on all this. Many posts complaining about the food quality (lack of). I have no first hand knowledge, just know the investors want NCL to input some money to try to salvage something. Hardly any ringing endorsements as to their quality or financials. I hope NCL can save them. If not, another one bites the dust?In reviewing your other posts I see you are a huge Oceania fan. I understand how upsetting this could be to have NCL take over a claimed "high end" cruise line. However, if they were doing well, I doubt the investors who have money in both the affected lines would push for NCL to take them over? "Wow" is right! If they are near bankruptcy, how are they building the new Regent Explorer, under construction to be launched in 2016, and slated to be the world's most luxurious ship? How have they constructed and launched two of the world's most beautiful ships, Marina and Riviera, in the last 3 years? Oceania is a cruise line that was begun in 2003 with just $14 Million in capital, then sold 70% of the company to Apollo Management in 2007 for almost $1 Billion! No other cruise line has seen such success or had such savvy management. Since then, they have been sailing at over 95% capacity. Yes, I am a huge Oceania fan. I'm also a rarity among Oceania passengers, an NCL fan (remember, I stated I am platinum on NCL). I also happen to know more about Oceania than most; I've been called Oceania's "historian" by their CEO. They are very, very far from "biting the dust" as you put it; why else would they feel healthy enough to be considering an IPO? It is true that NCL, perhaps unfairly and due to too much rowdiness and too many kids and too much nickle-diming; is considered to be the lowest common denominator. I don't necessarily agree or I wouldn't have spent 24 days on board Star last Fall. It's also true that Oceania guests are discerning, well-traveled and loyal (the ships usually sail with around 75% repeat guests). The biggest fear of Oceania and Regent guests is that NCL might drag it down like Carnival has dragged down HAL, Princess and Cunard. This merger could work if NCL is smart enough to keep their hands out of Oceania's and Regent's operations. If not, the present passengers would desert in droves and NCL would end up with an empty shell. Edited September 1, 2014 by hondorner Link to comment Share on other sites More sharing options...
Travelcat2 Posted September 2, 2014 #20 Share Posted September 2, 2014 (edited) Wow!! I took my info from the public pages, the ones noting they are near bankruptcy and for the first time in years have posted a small profit? Wonder if that has any affect on all this. Many posts complaining about the food quality (lack of). I have no first hand knowledge, just know the investors want NCL to input some money to try to salvage something. Hardly any ringing endorsements as to their quality or financials. I hope NCL can save them. If not, another one bites the dust?In reviewing your other posts I see you are a huge Oceania fan. I understand how upsetting this could be to have NCL take over a claimed "high end" cruise line. However, if they were doing well, I doubt the investors who have money in both the affected lines would push for NCL to take them over? Fortunately what you read is not true. There are public statements out there that will show just how solvent Oceania and Regent are. And, although there was talk of a IPO, it did not happen (perhaps because of the current deal being discussed). If anyone has had financial difficulties (on and off) it is Apollo - 20% owner of NCL and full owner of Regent and Oceania. They are not a "cruise" company. Oceania and Regent were purchased as an investment -- have made a lot of money and are being sold at a huge profit. It is sad to see a NCL passenger state such incorrect information on a public board. Edited September 2, 2014 by Travelcat2 Link to comment Share on other sites More sharing options...
CanadaTraveller Posted September 2, 2014 #21 Share Posted September 2, 2014 Tracelcat, you are correct with regard to the cruisers on Oceania cruises. While I didn't feel the line or the cruise met the hype of Oceania, I have never met a group of more open or friendly fellow cruise passengers. It is because of them, that I would consider sailing oceania again. I just couldn't believe how much the passengers mixed with each other. Invitations for drinks and dinner were many and heartfelt. Sent from my iPad using Tapatalk HD Link to comment Share on other sites More sharing options...
Barb Nahoumi Posted September 4, 2014 #22 Share Posted September 4, 2014 I have sailed concierge on Oceania and balcony on NCL and would choose NCL's product any day. Much better food, service and amenities. Yes, better food. And Oceania has country club casual, and the whole ship is freestyle dining with several specialty restaurants at no charge. So, that experience is very similar to Norwegian. So, if they adopt some of NCLs staff and training, Oceania could improve considerably. Oceania and regent have great itineraries. Sounds win/win. Hope it goes through! Sent from my iPad using Tapatalk HD[/QUOT The deal went through, as it was announced on yesterday's TV news. Link to comment Share on other sites More sharing options...
Travelcat2 Posted September 4, 2014 #23 Share Posted September 4, 2014 If you read the latest press release from Mr. Sheehan, there will not be cross-training between the three products which I think is important. If someone decided that they would prefer NCL staff to be more like Regent, I'm pretty sure NCL customers would not be happy. For the same reason, Oceania and Regent should not be looked at as something to change. They are both highly successful cruise lines that run full ships -- they were sold to infuse more $$$ into Apollo (same company that has a 20% ownership of NCL). Speaking of Apollo, in the same press release there was an interesting comment from a former president of NCL. He indicated that is one more huge thing that is going to happen. Do not think anyone is safe. Link to comment Share on other sites More sharing options...
JenLovesToTravel Posted September 4, 2014 #24 Share Posted September 4, 2014 Wow!! I took my info from the public pages, the ones noting they are near bankruptcy and for the first time in years have posted a small profit? Wonder if that has any affect on all this. Many posts complaining about the food quality (lack of). I have no first hand knowledge, just know the investors want NCL to input some money to try to salvage something. Hardly any ringing endorsements as to their quality or financials. I hope NCL can save them. If not, another one bites the dust?In reviewing your other posts I see you are a huge Oceania fan. I understand how upsetting this could be to have NCL take over a claimed "high end" cruise line. However, if they were doing well, I doubt the investors who have money in both the affected lines would push for NCL to take them over? Not being profitable is hardly "near bankruptcy". A significant amount of the charges on their financial statement are non cash charges meaning it doesn't affect their ability to meet their financial obligations. The inability to meet your obligations is bankruptcy. Unless you know the actually financing in place and the corporate tax structure of Prestige as a holding company or their majority owner, Apollo, there is no need to make an baseless charge of financial insolvency. No need to sound the alarm here people. Carnival owns Princess and Cunard and each line has maintained their own culture, personality and customer base. Bravo to NCL for growing in a new direction. Considering the cost of building new ships these days, I'd say they managed a very sound deal here! Time will tell on that. I hope they do well! Link to comment Share on other sites More sharing options...
sjbdtz Posted September 4, 2014 #25 Share Posted September 4, 2014 If you read the latest press release from Mr. Sheehan, there will not be cross-training between the three products which I think is important. Speaking of Apollo, in the same press release there was an interesting comment from a former president of NCL. He indicated that is one more huge thing that is going to happen. Do not think anyone is safe. Are you referring to Colin Veitch? Which press release? So far I've only heard about the one from Kevin Sheehan....is there another? What do you mean by "Do not think anyone is safe." ? Can you conjecture? . Link to comment Share on other sites More sharing options...
Recommended Posts
Please sign in to comment
You will be able to leave a comment after signing in
Sign In Now