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Does Diamond Resorts International own NCL?

Medtech2

By Medtech2,
in Norwegian Cruise Line

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Medtech2

Medtech2

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for the 2nd time at a timeshare pitch (don't judge-$200 off an excursion) Diamond Resorts is telling me they own NCL. Is this true? Just curious as part of the pitch was how great they are about exchanging your points for cruises, blah, blah, blah, which I have never found to be true through my different company timeshare...

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njhorseman

njhorseman

Posted
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Well, well.

 

Apollo Global Management is an owner/partner? of Diamond Resorts Intl - see this from Google

 

AND

 

Apollo has a 20% ownership in NCL : again, via Google

 

So, google provides way more answers than casual cruisers here.

 

AND - Diamond does offer NCL Cruises - see here, via Google

 

And any individual or institutional investor can own NCLH shares. You can, I can, and Apollo Management can, but we, or they, can't say they "own NCL", because we, or they, don't, because we, or they don't control the company.

 

While Apollo Management still owns a substantial percentage of the NCLH shares, they no longer control the corporate board of directors as they once did. Five of the nine board members of NCLH are independent directors, so the majority of the board seats are not affiliated with Apollo. Here's a list and summary biographies of the directors:

 

http://insiders.morningstar.com/trading/board-of-directors.action?t=NCLH&region=usa&culture=en-US

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stoneman56

stoneman56

Posted
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Diamond Resorts are small fry, I'd have laughed at them for mentioning that beauty. BTW they promote luxury holidays and superb accommodation. We stayed at Sunset Harbor in Tenerife and in a weeks stay our room was serviced once, that's one change of towels one change of bedding, and you had to pay if you wanted towels for the pool chairs.

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Husky1987

Husky1987

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He made a good point though.

 

But it's so mean to point out that in less than the time it takes to create a thread on here, one can type "Who owns NCL?" into the google search bar and come up with an answer in a split second.

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JuneauWhatIMean

JuneauWhatIMean

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But it's so mean to point out that in less than the time it takes to create a thread on here, one can type "Who owns NCL?" into the google search bar and come up with an answer in a split second.

 

Why on earth is that mean? It's true! Does the truth hurt that much? :confused:

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CruisinHarvey

CruisinHarvey

Posted
Posted
Well, well.

 

Apollo Global Management is an owner/partner? of Diamond Resorts Intl - see this from Google

 

AND

 

Apollo has a 20% ownership in NCL : again, via Google

 

So, google provides way more answers than casual cruisers here.

 

AND - Diamond does offer NCL Cruises - see here, via Google

 

This is why google is dangerous. They can claim whatever they want. I guess they could then claim they own Caesars Entertainment since Apollo has part of them too. It's a marketing scam. They own anything related to Apollo. Wrong! Apollo owns everything related to them. Completely separate organizations. Compared to Caesars and NCL, Diamond Resorts is petty cash..

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Medtech2

Medtech2

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Gee, I've been over on the Carnival board lately so have really missed the snark that this board is famous for.

 

Google returned several "NCL is affiliated with Diamond Resorts" answers, which did not directly answer my very simple question and no, it was easier to post here.

 

Meanwhile it takes more effort for people to post snark than to merely bypass a thread they do not have an answer to, as I definitely try to title my threads specifically, as opposed to the usual titles such as "????" or "I have a question"

 

Love you all, have a great day!

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seashells

seashells

Posted
Posted

Genting Hong Kong ...currently owns 22% of NCL along with other cruise lines with the rest of the stock owned by stockholders, and they are the parent of Star Cruises, the largest cruise line in Asia.

Genting's focus is on travel, entertainment, gambling, and is currently building a theme park.

Until recently Genting owned 40% of NCL but sold off stock in order to purchase Crystal Cruise Line.

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Arzeena

Arzeena

Posted
Posted
for the 2nd time at a timeshare pitch (don't judge-$200 off an excursion) Diamond Resorts is telling me they own NCL. Is this true? Just curious as part of the pitch was how great they are about exchanging your points for cruises, blah, blah, blah, which I have never found to be true through my different company timeshare...

 

I am not sure. I believe it was Blackrock that owned them (but i think it was sold). Sorry this is not very helpful either.

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garycarla

garycarla

Posted
Posted
This is why google is dangerous. They can claim whatever they want. I guess they could then claim they own Caesars Entertainment since Apollo has part of them too. It's a marketing scam. They own anything related to Apollo. Wrong! Apollo owns everything related to them. Completely separate organizations. Compared to Caesars and NCL, Diamond Resorts is petty cash..

 

 

Yes, they are not the owners, but a stockholder... maybe a good size one. Does not matter. Just pointing out there was a sliver of truth in the guys statement. (only a sliver). The marketing guy was just trying to get leverage. And that could be called a scam - or maybe just slick willy selling. You can make that determination on your own.

 

Here is a real life example. Recently we walked into a furniture store. Our sales rep said right up front that we smelled good. Fact? Nope. Neither one us wear anything due to allergies. She then followed up that her husbands name was the same as mine. The bullcrap meter went through the roof. But - they had the couch we wanted so we bought it there.

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njhorseman

njhorseman

Posted
Posted
Genting Hong Kong ...currently owns 22% of NCL along with other cruise lines with the rest of the stock owned by stockholders, and they are the parent of Star Cruises, the largest cruise line in Asia.

Genting's focus is on travel, entertainment, gambling, and is currently building a theme park.

Until recently Genting owned 40% of NCL but sold off stock in order to purchase Crystal Cruise Line.

 

No. Per NCLH's Dec. 31 2016 form 10-K filing, Apollo owned 15.9% of NCLH's ordinary shares and Genting HK owned 11.2%. You can find the data near the end of the 10-K in Note 8, Related Party Disclosures:

 

http://secfilings.nasdaq.com/edgar_conv_html%2f2017%2f02%2f27%2f0001571049-17-001650.html#FIS_BUSINESS

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njhorseman

njhorseman

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Yes, and it confirms what I said. Apollo does not "own" NCLH . It is the largest shareholder, but that amounts to a bit less than 16% of the outstanding shares of the company, and as I documented in an earlier post they do not control the board of directors.

 

In 2008 when Apollo paid $1 billion for 50% of NCL they were also granted control of the board as part of the purchase agreement. That has long gone by the wayside as a result of NCLH becoming a publicly traded corporation in 2013 and subsequently in 2014 the absorption of Prestige Cruise Holdings, which itself was controlled by Apollo prior to becoming part of NCLH.

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seashells

seashells

Posted
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Answering the OP.

"Norwegian Cruise Line is the preferred cruise travel partner of Diamond Resorts International® and offers the Members of THE Club® the freedom and flexibility to utilize their vacation ownership points to select from a wide range of cruise itineraries."

You can find this information on the NCL website.

On the other hand

It seems they are affiliated with NCL as other Land based casinos are....They may use it as an incentive to 'Purchase' a time share or entice you to a (browbeating) sales presentation.

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Love my butler

Love my butler

Posted
Posted
Answering the OP.

"Norwegian Cruise Line is the preferred cruise travel partner of Diamond Resorts International® and offers the Members of THE Club® the freedom and flexibility to utilize their vacation ownership points to select from a wide range of cruise itineraries."

You can find this information on the NCL website.

On the other hand

It seems they are affiliated with NCL as other Land based casinos are....They may use it as an incentive to 'Purchase' a time share or entice you to a (browbeating) sales presentation.

 

Take all the freebies you can from DRI, but run when they try to sell you ANYTHING. Professional hucksters.

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seashells

seashells

Posted
Posted
No. Per NCLH's Dec. 31 2016 form 10-K filing, Apollo owned 15.9% of NCLH's ordinary shares and Genting HK owned 11.2%. You can find the data near the end of the 10-K in Note 8, Related Party Disclosures:

 

http://secfilings.nasdaq.com/edgar_conv_html%2f2017%2f02%2f27%2f0001571049-17-001650.html#FIS_BUSINESS

 

I typed a whole response after reading the accounting of Pricewaterhouse... then lost it. lol

This is correct about the common (They call it ordinary stock)...NCL Holdings Ltd also has Restricted stock.

NCL Holdings Ltd. files what they operate in America. Hawaii ships/leasing of Miami headquarters/ U.S. employee's.

The rest is filed in Foreign Nations.

Genting HK also purchased 3 shipbuilding yards/company's and previously purchased Llyod Werft in Germany that builds NCLs new ships.

Their all around investment is higher than Apollo, who in return purchases NCLs older ships for use in areas other than the U.S.

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