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A&K Travel Group Acquires Crystal Brand and Crystal Serenity and Crystal Symphony


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4 hours ago, TRIPACIAN said:

I am pretty sure we won’t be seeing you on the new Crystal!

I don't understand some of you . . . . ..

 

Why would you "like" this post? Are you happy I might not be on Crystal?  You only embarrass yourselves.

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As fans of Crystal, this is obviously the best possible outcome (other than never ceasing operation, of course.)

 

However, stepping back a bit, it occurs to me that right now, "Crystal" is a brand name and two fitted-out hulls.  That's it.  The rest is basically a promise for a return to the glory days.  Yes, one hopes for the best in terms of returning crew, level of service, entertainment, etc.  But, as the cliche goes, hope is not a strategy.

 

I am reminded of the Greenspan phrase "irrational exuberance."

 

I will wait on the reviews from the more clear eyed posters.

 

TWT. 

 

 

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I hear you KenzSailing.

 

In the end, the proof is in the pudding.

 

To me this is step one in the climb to bring Crystal back.

 

Ships bought and rights to Crystal bought by owner.

 

Several next steps including putting in place a full management team, refurbishing ships, planning itineraries, cruise fares, updating or putting in new systems for sales and guests, providing specifics including vision and details on offering, establishing relationships with the traveler industry, and many more items.  There is certainly a lot to do and many stairs to climb.

 

With that said to me the best news possible.  Now the proof is in the pudding but this is such a much better place than some of the incorrect speculation such as the ships would be scrapped. I remember that discussion way too well.

 

Keith

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Crystal Cruises Ltd., has offered $13 million to a Florida court, a purchase offer that would include the Crystal Cruises brand, customer list, domain names, social media accounts and other associated assets.

The company is part of the new Crystal Cruises start up by A&K Travel Group, the travel company owned by Geoffrey Kent and Heritage (the industrial holding company chaired by Manfredi Lefebvre d'Ovidio), which has purchased the Serenity and Symphony for $128 million.

Crystal Cruises Ltd. is listed as a Bahamas-based corporation.

The Assignee overseeing Crystal's liquidation in the United States is recommending that the 30,000-plus creditors and court take the $13 million. 

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5 minutes ago, hypercafe said:

The Assignee overseeing Crystal's liquidation in the United States is recommending that the 30,000-plus creditors and court take the $13 million. 


$13m split 30,000 ways - $433 each (ignores the fact there are preferred creditors who will take precedence over other creditors and the assignees will have significant costs to be paid) - but whatever way you look at it there won’t be much of a payout….

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9 hours ago, KenzSailing said:

As fans of Crystal, this is obviously the best possible outcome (other than never ceasing operation, of course.)

 

However, stepping back a bit, it occurs to me that right now, "Crystal" is a brand name and two fitted-out hulls.  That's it.  The rest is basically a promise for a return to the glory days.  Yes, one hopes for the best in terms of returning crew, level of service, entertainment, etc.  But, as the cliche goes, hope is not a strategy.

 

I am reminded of the Greenspan phrase "irrational exuberance."

 

I will wait on the reviews from the more clear eyed posters.

 

TWT. 

 

 


fully concur

 

Nancy

 

 

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Posted (edited)
1 hour ago, Stickman1990 said:


$13m split 30,000 ways - $433 each (ignores the fact there are preferred creditors who will take precedence over other creditors and the assignees will have significant costs to be paid) - but whatever way you look at it there won’t be much of a payout….

I agree there won't be much of a pay out but many of us didn't file claims. It wasn't worth my time for the amount I lost. Though - others who had more $$$ invested - it definitely was worth their time. I know others who did not file a claim.

 

I also know of others who were successful with their trip insurance and didn't file a claim. I heard of someone who got $500K back from their trip insurance! Also, some re-cooped from their credit cards.

 

Lots of variables involved. I do hope people are able to get as much money as possible back.

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1 hour ago, Stickman1990 said:


$13m split 30,000 ways - $433 each (ignores the fact there are preferred creditors who will take precedence over other creditors and the assignees will have significant costs to be paid) - but whatever way you look at it there won’t be much of a payout….

Correct. The key is the preferred creditors.   It will mainly go to the vendors owed money and there are lots of them.   I am not expecting anything even though we are owed a good amount but if we do get something I am thinking I will give it to charity since I long ago assumed we would get nothing. Don't think TA's get anything given the amount of money owed. Time will tell.

 

Keith

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12 hours ago, bitob said:

I don't understand some of you . . . . ..

 

Why would you "like" this post? Are you happy I might not be on Crystal?  You only embarrass yourselves.

pre pandemic I considered crystal but was not sold

small cabins and small minded people put me off

 

then I saw that crystal was in a financial mess - slow refunds and the like

 

not sure I like the idea of a cruise line using a failed company name especially if any of the previous execs are employed

 

i will see where endevor ends up

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10 minutes ago, ryndam said:

This has always been my point.  Nothing to do with being responsible for the debt.  It's about brand.   A savvy business person understands this.  Let' see how they address the issue

 

'On the advisor/consumer side, there are bigger fences to mend,' he continued. 'Guests have been abandoned in many cases, while others are still trying to navigate refunds through their insurance or credit card [companies]. We have millions in future cruise credits, currently without value, and advisors are still owed significant commissions during the toughest time in our history.  

'So, to truly resurrect this brand, it will take a lot of work on all fronts in order for us to throw our endorsement and support behind the “new Crystal,” Sharpe said of Signature, 'but I am certainly looking forward to those conversations with our old industry friend Manfredi.'

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Both these articles state the obvious.

 

There are agents and past loyal passengers who are feeling the financial betrayal as much as there are loyal past passengers who are ready to board the first voyage.  If the new owner can satisfy both he will have a winning formula.

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Posted (edited)
56 minutes ago, nancygp said:

From the article: " will have to compete in the upper-premium segment with Oceania and Azamara rather than in the luxury sector against newer tonnage at Seabourn, Silversea and Regent Seven Seas Cruises. "

 

Obviously this person who is a TA has no clue what truly made Crystal special. Oceania and Azamara with their second tier entertainment, food, lectures etc and lack of classes etc, can't even compete. Frankly even his so called six star lines lack in a lot of ways except for their new ships.

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'Dallas-based luxury agent Dennis Nienkerk said he personally lost a $7,000 FCC and doubts he'll get it back. Crystal benefits from immense customer loyalty, he said, but he said he thinks the older Crystal ships -- the Symphony was built in 1995 and the Serenity in 2003 -- will have to compete in the upper-premium segment with Oceania and Azamara rather than in the luxury sector against newer tonnage at Seabourn, Silversea and Regent Seven Seas Cruises."

 

I was thinking the same thing. I have read many times the R ships Oceania and AZ use can't be sold as luxury because of cabin size, that said they do very well in the premium market. Oceania is very popular inspite of an expensive on board experience and very poor entertainment. At the same price point I would always choose the Crystal ships. At the same price point as say a new SS ship I would pick SS. 

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LOTS & LOTS of Speculation here, of course. SO much is unknown.    It is reported that the Databases were bought by Crystal Ltd. That is sure to include Customer Lists.  I'd expect that in the near future, everyone on that customer list will be getting an email or letter discussing the future of the two purchased ships.  I'll wait to hear more.  

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Which past passengers and tas who are owed money is a matter of record. The ta issue is simpler. Many past passengers will have recouped funds through insurance or credit cards. 
 

 

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1 minute ago, bitob said:

Which past passengers and tas who are owed money is a matter of record. The ta issue is simpler. Many past passengers will have recouped funds through insurance or credit cards

Who holds that record??

 

And who has been keeping it updated?

 

I agree it is easier to know what is owed to any particular TA - except maybe insurance helped out some?

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7 minutes ago, Noggins said:

Who holds that record??

 

And who has been keeping it updated?

 

I agree it is easier to know what is owed to any particular TA - except maybe insurance helped out some?

 

Agree. I know people who were made partially or completely whole by either credit cards or insurance long after the Miami office ceased to function. Was the record of who was owed what updated after that point?

 

Patty

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23 minutes ago, Noggins said:

Who holds that record??

 

And who has been keeping it updated?

 

I agree it is easier to know what is owed to any particular TA - except maybe insurance helped out some?

Those of us who have submitted claims with the Assignees, have given that information to them. So at least there is a list of names and amounts of claims in the data basis of the assignees. Since the new company is buying the data basis from the assignees, I guess that they  will also have access to the amounts claimed and to the updated amounts. In other  words there are lists of creditors with addresses and email addresses. It is just a matter of contacting them if the information provided by the assignees is not sufficient.

 

Ivi

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16 minutes ago, bitob said:

But if the new owner wants to deal with the issue it can be done. Will depend on how much he cares about it 

Time will tell... (dang - I didn't ever mean to use that phrase!)

 

Personally, I don't believe it will be possible.

But unpaid commission will be traceable. (and maybe the influencers are the ones to focus your fire power on anyway...?)

Crystal Society records will remain - and that may be the only jump off point for the new owner to offer incentives / continuity etc.

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3 minutes ago, travelberlin said:

Those of us who have submitted claims with the Assignees, have given that information to them. So at least there is a list of names and amounts of claims in the data basis of the assignees. Since the new company is buying the data basis from the assignees, I guess that they  will also have access to the amounts claimed and to the updated amounts. In other  words there are lists of creditors with addresses and email addresses. It is just a matter of contacting them if the information provided by the assignees is not sufficient.

 

Ivi

Assuming people have been honest and not submitted claims that do not reflect credit card or insurance reimbursement. It will not be simple to sort out.  The claim info might be a starting point at best

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