New Crystal Financial Stabilty

[offtoalaska]

Just contacted my TA to book a Serenity sailing in January; she indicated that "Regarding Crystal, we are not booking them due to their financial status and the industry reviews of their stability. (It's been a rough road for them since Covid). Our insurance company is not insuring them at this time. "  Hmm I was really eager to book the Jan 5 2024 sailing now hesitant.  Any comments are appreciated.

 

[History&Wine]

This sounds like BS to me.  My former TA refused to book New Crystal...it was a company policy.  Their company lost money to the old Crystal.

 

I'm thinking this is the case with your TA as well.  I would ask your TA to cite the concerns regarding their financial stability as well as the "industry reviews of their stability."

 

I don't think you will have any trouble finding an insurance company to insure your trip. 

[ctjon]

What facts does your TA have?   Their new owner is a very financially stable company so I've heard

[offtoalaska]

My TA doesn't have any specifics;  I've checked and I can get travel insurance which would cover any default scenarios.  The Crystal agent was great to speak with and provided good info regarding how past guests were compensated during the transition from old Crystal to the new Crystal.  We've booked the Serenity sailing from Miami on Jan 5 2024 and are eager to get back on board.

[iamgrizzly]

Abercrombie & Kent is very reputable. I don't know how new Crystal is structured but I would trust Abercrombie to do all the right things.

[Mr Luxury]

I don't see a problem with booking with NC but I do understand why certain TA's might not want to jump back in the water until NC actually sail again and have a track record.

There are so many TA's that you can book with who will happily take your money.

[BEAV]

8 hours ago, offtoalaska said:

My TA doesn't have any specifics;  I've checked and I can get travel insurance which would cover any default scenarios.  The Crystal agent was great to speak with and provided good info regarding how past guests were compensated during the transition from old Crystal to the new Crystal.  We've booked the Serenity sailing from Miami on Jan 5 2024 and are eager to get back on board.

Whenever I see a Facebook ad for new Crystal, there’s always lots of nasty comments about “never again” by people who lost money. I don’t blame them, but it seems to be a “guilt by association” thing because of the fact Abercrombie & Fitch bought not only the ships, but the Crystal name. People are holding the new owners accountable, and that sounds exactly what your TA is doing as well. 
 

Kudos to you for following through. Social media has its drawbacks. With the advent of FB, suddenly everyone has a voice and is a self-appointed expert on any subject! 🤦

[Keith1010]

Glad it worked out for you.  I know plenty of TA's that were owed money and booking New Crystal knowing that NC has nothing to do with OC.  I get the emotion they have but the ownership is 100% different and so is the viability of them. Yes OC taught us all lessons about financial exposure as we've learned over our lifetimes with other financial risk.  

 

And yes there are some people who won't book with Crystal because of OC. I do know some who said they would never book but they have while others have not. Some will do a wait and see while others may never book. 

 

I have enjoyed reading posts on Social Media where there has been quite a lot of positive comments about the program rolled out about the Exceptional Initiative program and how appreciative they are for what NC did. And yes some people have no interest or think more should have been done.

 

As to risk, the key is to do ones homework and if they are concerned with the risk to consider insurance to protect them and also to understand their credit card company as we all learned in the last go around.  That is true of anything. You build a house.  You are asked to put down x dollars up front.  You better know the risk if the builder goes out of business.  

 

Keith

[bitob]

Keep in mind that even though a &k bought crystal I strongly those assets are or will ever be merged. Insane to risk the assets of an established successful company with a new venture. The financial stability of a & k is irrelevant. 

 

the financial stability of nc is unknown until there are sailings and a revenue stream. No one on these boards knows what that will be. Time will tell

 

 

[Keith1010]

If someone is worried they should get insurance.  

Many like myself are booked.

 

Keith

[Amber14]

On 5/9/2023 at 5:32 PM, offtoalaska said:

My TA doesn't have any specifics;  I've checked and I can get travel insurance which would cover any default scenarios.  The Crystal agent was great to speak with and provided good info regarding how past guests were compensated during the transition from old Crystal to the new Crystal.  We've booked the Serenity sailing from Miami on Jan 5 2024 and are eager to get back on board.

We just booked this same cruise. It will be our first Crystal (old or new).  Our TA found us insurance which would cover ship cancellation/bankruptcy. We loved the relaxing itinerary and can't wait to try Crystal!

[TRIPACIAN]

I have booked 9 cruises on NC.  This includes 4 btb’s and one single cruise.  Several of the cruises we have booked are pretty full and finding the cabin we want has been challenging.  In my opinion bookings are pretty robust under the circumstances.

[PaulMCO]

Fooled me once shame on you.  Fooled me twice shame on me.  
 

I think everyone should be concerned until

the real proof of the lines service and viability is proven.  
 

This is Cruise CRITIC. Not the Crystal Fan club. The OP had a concern and wanted an

opinion.  

Edited May 11, 2023 by PaulMCO

[moggyhill]

They can’t even sell out inaugural cruises.  That says it all.  If you are a cheerleader good for you.  But if you aren’t concerned then imho you certainly should be.  Too much really bad history here.  And I learned in elementary school if you don’t study history you are doomed to repeat it 

[bitob]

1 hour ago, TRIPACIAN said:

I have booked 9 cruises on NC.  This includes 4 btb’s and one single cruise.  Several of the cruises we have booked are pretty full and finding the cabin we want has been challenging.  In my opinion bookings are pretty robust under the circumstances.

It’s the “circumstances” that are the issue. I do not know which cabins or cruises you booked but you really don’t get the big picture from your personal bookings. Eg a holiday cruise in a cp might be hard to book but that’s not evidence of robust bookings overall. Every cruise and cabin type will be different

 

I keep getting emails urging us to book, including inaugurals. Not one of my many cruising friends, all of whom were oc regulars, has booked on nc. Some were owed money but not all 

[nancygp]

I,  like many crystal society members, received an email last week that offered a 5% CS discount on several 2023 fall Canada/NE cruises if booked by June 1st.  It’s a nice offer, normal cs discount is 2.5%.  There’s tons of competition for these routes, including the other lux lines.  Sales are soft and others lux lines are currently doing marketing/sales promos.  Simple supply and demand.
 

Nancy

[Keith1010]

 

24 minutes ago, moggyhill said:

They can’t even sell out inaugural cruises.  That says it all.  If you are a cheerleader good for you.  But if you aren’t concerned then imho you certainly should be.  Too much really bad history here.  And I learned in elementary school if you don’t study history you are doomed to repeat it 

Well, we agree on history. I think history is very key on a number of issues.

 

With that said:

 

New Crystal is under New ownership.

 

A&K has a very good history.

 

We do not know the overall occupancy unless you know something I don't. So whether it is full at time of sailing or less than full is irrelevant.

 

As to earlier comments:

 

 I am a member of Cruise Critic and have been since pretty close to the beginning.

 

One doesn't have to criticize everything to be a member in good standing.

 

Insurance and Credit Card and be ones friend.

 

And for me waiting is pointless.  If one wants to be sure of their money I guess they could make a booking a week before the sailing.

I am looking forward to each of the cruises I have booked with NC.

 

I am more worried about the early June economic issue for the USA than anything else at this point in time.

 

Describing those who have bookings or are positive as cheerleaders is name calling.  I don't do splits or cart-wheels.  Never have and that is my history.

 

Keith

[TRIPACIAN]

41 minutes ago, bitob said:

It’s the “circumstances” that are the issue. I do not know which cabins or cruises you booked but you really don’t get the big picture from your personal bookings. Eg a holiday cruise in a cp might be hard to book but that’s not evidence of robust bookings overall. Every cruise and cabin type will be different

 

I keep getting emails urging us to book, including inaugurals. Not one of my many cruising friends, all of whom were oc regulars, has booked on nc. Some were owed money but not all 

Have you tried to book a cruise on NC?

[History&Wine]

It seems that sales are soft across the luxury space.

On the other hand, Royal Caribbean has been  selling more rooms than they actually have on their mega ships. 

 

 

 

[History&Wine]

I would think some of the early Crystal sailings (after the first one or two as there will invariably be kinks to be worked out)  will be phenomenal.  New Crystal is well...NEW...I think they will staff up so that early reviews encourage former guests to return.

[bitob]

2 hours ago, TRIPACIAN said:

Have you tried to book a cruise on NC?

No

but I have spoken to my travel agent who knows what is going on 

[History&Wine]

Out of curiosity, I asked a well known internet search site to show me all the six star luxury cruises departing August through November. 

 

The search yielded 480 results (no Crystal inclusions).  Of those only 27 are shown as sold out.  The vast majority of those are Seaborne with I think three or four Silversea. 

[May B]

1 hour ago, History&Wine said:

It seems that sales are soft across the luxury space.

On the other hand, Royal Caribbean has been  selling more rooms than they actually have on their mega ships. 

 

 

 

Scary! Or something like that, anyway.

[Keith1010]

2 hours ago, Cheddar Biscuit said:

They call me Mr Biscuit!

 

I just wouldn't book Crystal right now because there is too much we don't know about the ships and the services. (Although I'm sure service will be excellent in general, we don't know about the butlers role in cabins less than penthouses, for example.) I think it's very prudent for many cruisers to continue to wait-and-see, at least until August.

 

If it makes anyone feel any better, I think sales are soft on Regent too, except for Grandeur, and for specific itineraries.

 

We know quite a bit about the ships. Over the years the ships have gone through some very big makeovers in dry docks and lines launch new ships so I do not understand why not knowing what all the changes to the ships would matter.  

 

Interesting about the butlers. Since there were no butlers in those room before wouldn't having a butler be a positive even if they did half of what is done in suites.  We had butlers on the river cruise vessels (all rooms) and on Endeavor (all rooms) and we didn't know all the details but that didn't keep people from booking.

 

I am also not sure why ship occupancy would be an issue for someone booking. Personally if the ship is not sold out to me that is a plus from a guest perspective.  I rarely have sailed sold out ships and I have sailed on many ships over the years.

 

Keith

[ctjon]

Maybe those who are so concerned about butlers can arrange to bring their home butlers with them - you can arrange to pay for their room and they can serve you so you get the same butler service you get at home.  Great ships, great itineraries, great food, great entertainment, great lectures just aren't enough without great butler service.