I can't believe NCL is buying REGENT...

[Zqueeze1]

Excellent! Thanks for keeping us posted. I really hope that Mr. Sheehan steps up to the plate. Without a military discount, I really have to get creative in search for a discounted fare. USAA is our most reliable source but not always the cheapest.

 

Z and TB

[computerworks]

The deal closed this a.m.

[computerworks]

Norwegian Cruise Line Holdings Ltd. Completes Acquisition of Prestige Cruises International, Inc.

Miami - Nov 19, 2014 ---

Acquisition grows capacity of the world's third largest cruise operator close to 20% Identified synergies of $25 million with additional opportunities post-integration

 

Acquisition enhances Company's industry-leading financial metrics

 

Norwegian Cruise Line Holdings Ltd. (Nasdaq: NCLH) (the "Company"), a leading global cruise operator, today announced it has completed its previously-announced acquisition of Prestige Cruises International, Inc. ("Prestige"), the market leader in the upscale cruise segment and parent company of Oceania Cruises and Regent Seven Seas Cruises, in cash and stock for a total transaction consideration of $3.025 billion, including the assumption of debt.

 

With this acquisition, Norwegian Cruise Line Holdings Ltd. operates a portfolio of brands that span all market segments in the cruise industry, from contemporary to upper-premium to luxury. Each brand offers differentiated experiences in their respective segments. The Norwegian Cruise Line brand provides the freedom and flexibility of a resort-style vacation on board some of the most innovative ships in the industry with its unique Freestyle Cruising proposition. Oceania Cruises offers an upper premium experience with the finest cuisine at sea on its fleet of mid-sized ships, while Regent Seven Seas Cruises is the market leader in the luxury cruise segment and operates three award-winning, all-suite ships, with an additional ship on order for delivery in summer 2016.

 

Commenting on the closing of the acquisition, Kevin Sheehan, president and chief executive officer of Norwegian Cruise Line Holdings Ltd., said, "While for years we have competed successfully with our one brand in an increasingly consolidated industry, our acquisition of Prestige creates a new cruise operator with a range of complementary offerings as diversified as any in the industry. We now shift our focus from planning for the successful integration of these organizations to the implementation phase, with an organizational structure that allows for the realization of significant synergies while maintaining the integrity of the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands that have made each a success in their respective segment."

 

Frank Del Rio, chief executive officer of Prestige Cruise Holdings, Inc., commented, "We're excited to officially join the Norwegian family and ready to begin this next chapter as one united company. Together, we will further our brands' position as leaders in the upper-premium and luxury cruise markets by continuing to deliver an exceptional onboard experience for our guests, and expand the reach of both Oceania Cruises and Regent Seven Seas Cruises throughout the world."

[Travelcat2]

I think this deserves it's own thread.

[cruiseej]

Update, today Regent & Oceania now no longer offering military discount fares.

 

This morning, asked the CEO of Norwegian Cruise lines to consider offering military discount fares to follow Norwegian's outstanding example. Within thirty minutes, Mr. Sheehan wrote back:

 

Thanks, reviewing as we move forward

 

Will keep y'all posted and keep pressing foward for our deserving military

 

Let me preface my question by first saying that I deeply respect the work of the members of our military, and am grateful for their hard work and sacrifice to protect us and our way of life. So I mean absolutely no disrespect for these people who currently serve or have previously served in the military when I ask, with genuine curiosity: why should they receive a discount on an ultra-luxury vacation product like a Regent cruise? I absolutely understand special incentives to allow military members and their families to take a vacation, buy a home, buy a car, attend college, get a good job, etc. But I'm not sure I see why this necessarily needs to extend to something like a luxury cruise that only people in perhaps the top 2-4% of income or wealth can afford. For instance, I might expect a company like Disney Resorts or Hilton to offer military discounts, but I'm not sure I'd expect the same from the Four Seasons and Ritz-Carlton; I might expect an airline like United to offer a military travel discount, but not necessarily on first class seats. (I hope not to get flamed just for raising the question, and I'm happy to get educated by those who know more about the area of military benefits than I do.)

[pingpong1]

Cruiseej - Upon first reading your post, I headed to the tool shed to get out my blow torch (to join in the "flaming party" you suggested might happen). But actually, there has been more silence after your post than what I first expected. Perhaps people actually saw the logic of your comment, or perhaps just didn't want to touch "the 3rd rail" of what would undoubtedly become yet another "controversial thread" that might be seen as "disrespecting" our military veterans.

 

After thinking about your comments overnight, I came to see the point of your remarks and I put away my blow torch. :o Any particular company that decides to offer a "military discount" to certain customers is primarily making a business (public relations, really) decision. It certainly isn't something they have to do. After all, they could just as rightly offer a discount for teachers or policeman. Offering special discounts to military veterans is a uniquely "American thing". You simply don't see it in European or Asian countries. And it probably becomes more difficult for a company (such as Regent) with a large international clientele. In order to be evenhanded, would/should Regent also offer a "discount" to Russian, Italian, French, or English customers who happened to have been former/current members of their own respective country's military?

 

As you pointed out, I don't believe I would get a "military discount" if I walked into Tiffany or Saks and asked for one. :eek: The fact that some mainstream businesses in the U.S. (such as Lowes, Home Depot, and Golden Corral) offer them is a nice gesture on their part but is certainly not an obligation, and has a very small negative impact on their "bottom line". HD and Lowe's offer the same 10% discount to "contractors".

 

A lot of U.S. businesses (like American hotel chains) offer a discount if I show my AARP card when I book a room. And my only qualification for that discount was to "get old"!

 

As you pointed out, Disney offers discounts to military folks (in Orlando, Anaheim, and on their cruises), but I'm not sure I would get that same discount (as a military vet) if I showed my ID card at the Disney parks in Paris or Tokyo? Regent can probably fill their ships by charging full price fares for everyone, without the need (and potential complications/negative blowback) of offering special discounts to certain classes of customers - like U.S.-only military veterans. I'm sure they give "special consideration" (perks, OBC's, etc.) to their "best customers" - which would be a completely understandable business decision.

 

Regards