The luxury cruise brand previously owned by Genting Hong Kong, Crystal Cruises, and two of its cruise ships have been acquired by A&K Travel Group Ltd.
The US travel company revealed this week that it has acquired the vessels Crystal Serenity and Crystal Symphony, which were seized by authorities in February after parent company Genting Hong Kong defaulted on loan repayments and was placed in the hands of joint provisional liquidators.
The vessels are set to resume operations in 2023 under their new owners, who also announced that the ships would be managed by Monaco-based V.Ships Leisure.
While A&K Travel Group did not reveal how much it paid to acquire the two ships, a recent report from cruising media brand Cruise Hive estimated the trading value of Crystal Serenity at around US$87 million, with the older Crystal Symphony said to be worth around US$18 million.
As reported by Inside Asian Gaming, Crystal Cruises announced in January that it was suspending operations after, Genting Hong Kong filed for liquidation amid debts totaling almost US$2.8 billion.
US authorities subsequently seized the ships in February over US$4.6 million in unpaid fuel bills.
Genting Hong Kong also shut down its Asian-based cruise firm, Dream Cruises, however Genting Group patriarch Lim Kok Thay recently launched a new cruise line brand, Resorts World Cruises, out of Singapore with is maiden sailing taking place on 15 June.