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


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11 hours ago, bitob said:

I’m not so sure that is a great strategy. Kind of like a bait and switch. If they are starting a new line with new ownership I think it’s preferable to offer their best and price it accordingly 

As I said, they must deliver a quality luxury product first but with all the fixed costs and starting with some baggage to overcome My bet is that pricing will be very reasonable until demand dictates that they can raise pricing without jeopardizing their future. Ultimately demand and your competitors will set your pricing long term not the other way around. Obviously speculation but I know the strategy has worked well with other companies with high fixed cost and demand dependent. IMHO.

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Posted (edited)

You might be right

 

we are all speculating 

 

 I just know it is often harder to raise prices later. If all the loyal crystal cruisers on this site have their bags packed already, doesn’t seem that price will matter much. I will add that had I not been screwed royally, price would have not mattered to me. 

 

I realize single supplement cruisers have a genuine concern. 

Edited by bitob
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19 hours ago, Orator said:

The market will dictate what they can charge. There was an item about Carnival Corporation  on CNBC this afternoon CCL will report earnings tomorrow. The reporter said that they will see if they decide to sell some of their least productive brands like Seabourn. Only speculation on my part, but I feel that the new owners will absorb losses for a time to get people to try thew new Crystal and then we will see a sharp price increase.

That's what Uber has done 😉

 

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9 hours ago, bitob said:

Haven’t looked at explora at all

 

all conjecture. 
 

we will know when fares posted 

Explora pricing is up and we booked for next September. How could we not with such great fares and a large brand new suite? 😄

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20 minutes ago, suzeluvscruz said:

115 pages! Please précis for us.


Summary:

 

Lawyers - 1

Secured Creditors - 1

Unsecured Creditors (refer exhibit B) - 0

 

Say $14m ($13m plus rats and mice from other auctions) split a lot of ways = 0

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Guess no one is a speed reader  🙂

 

 

Paid 13,000,000

Closing is 1 July -- pending court approval

They get:

IP including trademarks.  Presume these trade marks include the river cruises too (as they are included in the web names)

All Web Names (including those of the river cruises, yachts, and expedition )

Customer database

Facebook, Twitter accounts

IT equipment

All inventory on the ships

All fixed assets on the ships

All inventory in the Holland warehouse (spare parts and other items)

$800,000 in cash and other forms located on the ship

All ships maintenance data
 

 

They do not get --

any assets not on ships (meaning the 2 cruise ships) except marketing items and items in Holland

Bonds, bank account money =(3M + 30M FMC bond)

 

Other info:

Employees owed money $800K

Taxes owed $400K (uncle same is number 2 on the list)

Lawyers are number 3 on the list

Vendor list of scammed companies -- pages 62 to 86

Open lawsuits (listed)

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I’ve skim read it. Actually most of the material has been filed before and Exhibit B is a large part of the volume - wished they’d total that list for us 

 

It’s not actually all the domains, there’s a few missing so maybe I’ll go and register them and sell them off to A&K for a cool couple of million 😉😂
 

BTW - Good to see Cruise Critics system is still failing - disappearing draft posts and messed up logins and log outs - just as well no one’s in a hurry to fix it!

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2 hours ago, PaulMCO said:

Since you all are debating what was purchased -- you should read the court documents.  It lists what was purchased (trademarks, websites etc.) and the many employees and contractor/vendors who were scammed.

Crystal Asset Sale.pdf 6.68 MB · 26 downloads

Hundreds of Travel Agents in the list. Must be for commission  owed.

 

Interesting that on page 65, Star Cruises is listed as a creditor, but the amount owed appears to have been to big for the PDF to render correctly. It would be interesting to find out that amount.

 

J

 

 

Star Cruise Creditor.jpg

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4 hours ago, bitob said:

Please give full report

I absolutely will the end of next September when we disembark. We chose Iceland to Greenland to NY.

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13 hours ago, PaulMCO said:

Guess no one is a speed reader  🙂

 

 

Paid 13,000,000

Closing is 1 July -- pending court approval

They get:

IP including trademarks.  Presume these trade marks include the river cruises too (as they are included in the web names)

All Web Names (including those of the river cruises, yachts, and expedition )

Customer database

Facebook, Twitter accounts

IT equipment

All inventory on the ships

All fixed assets on the ships

All inventory in the Holland warehouse (spare parts and other items)

$800,000 in cash and other forms located on the ship

All ships maintenance data
 

 

They do not get --

any assets not on ships (meaning the 2 cruise ships) except marketing items and items in Holland

Bonds, bank account money =(3M + 30M FMC bond)

 

Other info:

Employees owed money $800K

Taxes owed $400K (uncle same is number 2 on the list)

Lawyers are number 3 on the list

Vendor list of scammed companies -- pages 62 to 86

Open lawsuits (listed)

Fantastic recap.

 

Over the months some had asked if the crew welfare funds had been swept somehow by you know who.

 

I wonder if some of the on board cash are crew funds?

 

Thank you for summarizing this.

 

Keith

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15 hours ago, PaulMCO said:

Since you all are debating what was purchased -- you should read the court documents.  It lists what was purchased (trademarks, websites etc.) and the many employees and contractor/vendors who were scammed.

 

 

The list is mind-numbing.

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2 hours ago, Keith1010 said:

Fantastic recap.

 

Over the months some had asked if the crew welfare funds had been swept somehow by you know who.

 

I wonder if some of the on board cash are crew funds?

 

Thank you for summarizing this.

 

Keith

I was on the last Symphony cruise and I made a significant contribution to the Crew Welfare Fund. Would be hurt if that contribution didn’t go to the hard working crew.

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About the 800K of cash onboard.  I was wondering because of the precarious financial situation towards the end .  Many vendors would rightly not accept credit and would only deliver provisions and other items on a cash basis.

 

 

 

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On 6/24/2022 at 8:17 PM, JMARINER said:

Hundreds of Travel Agents in the list. Must be for commission  owed.

 

Interesting that on page 65, Star Cruises is listed as a creditor, but the amount owed appears to have been to big for the PDF to render correctly. It would be interesting to find out that amount.

 

J

 

 

 

Star Cruises bought fuel on behalf of Crystal.  It was multi-millions owed.

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4 hours ago, Keith1010 said:

I saw that, and also wondered who…

Also explains why the ships were docked in the cargo section of Freeport.  I figured people might be inspecting the ships….looking them over…. EM

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