After news broke last week that Genting Hong Kong, a resort and cruise conglomerate that owns a number of companies, was having financial troubles, Crystal Cruises, one of the companies owned by Genting, issued a statement that despite the trouble, the company is not going out of business.
“It is important to understand that the company is not going out of business. Whatever option our parent company pursues, it will allow Crystal to operate its business,” Crystal said in a statement. “Whatever option our parent company pursues, it will allow Crystal to operate its business.”
Genting Hong Kong, which also owns Dream Cruises, Star Cruises, Resorts World Manila, and more, has reportedly suspended payments to creditors as it tries to restructure to try and deal with the continuing fallout from COVID-19.
Crystal, which currently has all voyages suspended through the end of 2020, said that despite the news from Genting, it is “working with government and health authorities in our key markets to resume sailing when it is safe to do so and we look forward to welcoming our guests back on board at that time.”
“We have always been committed to honoring our contractual obligations with guests and travel partners, including the processing of refunds.”
Even with the reassurance, Crystal did say that COVID-19 has forced it to delay some new builds—earlier in the pandemic, Crystal announced that Crystal Endeavor, its upcoming expedition yacht, will be delayed about a year because of issues at the MV WERFTEN shipyard stemming from the COVID-19 pandemic.
The ship will debut sometime in 2021 after first being expected to enter service sometime in 2020.