As high-profile merger news has been fast and furious in past weeks from Family Dollar’s $8+ billion purchase to Burger Kings $11 billion buy of Tim Horton’s, today we received huge news for the cruise industry with the announcement of Norwegian Cruise Line’s plan to buy Prestige Cruises International, Inc for $3 Billion.
The initial reaction from the stock market is favorable with NCLH stock price up 11.62% in afternoon trading following the announcement.
Prestige Cruises International is the private owner of Oceania Cruises and Regent Seven Seas Cruise Line.
From a cruiser’s perspective, I feel this is a great fit of brands. Norwegian Cruise Line’s has been a maverick in the contemporary cruise market changing the entire industry with their Freestyle Cruising concept.
Regent Seven Seas has been pushing the envelope on the luxury all-inclusive cruise experience and Oceania has a unique country-club casual onboard experience with some of the most unique itineraries in the cruise industry.
With these brands under one umbrella, Norwegian Cruise Line’s Holdings will be able to offer an experience tailored for clients in every stage of their life.
From initial statements, the expectation is that the brands will remain distinct and intact similar to the Royal Caribbean and Carnival Corp. family of cruise brands.
Photo from today’s announcement Frank Del Rio, CEO of Prestige Cruises and Kevin Sheehan, CEO of Norwegian Cruise Lines.
Photo credit: Camille Olivere, SVP Sale for NCL Facebook Page.