Norwegian Cruise Line to Buy Prestige Cruises

Norwegian Cruise Line has announced that it will acquire Prestige Cruise Holdings, the parent company of Oceania Cruises and Regent Seven Seas Cruises.

The $3.03 billion deal will give Norwegian control of the two luxury cruise lines, helping the company break into the upscale cruise market and expand its portfolio of products.

Kevin Sheehan, Norwegian’s chief executive officer, stated in a press release that the three brands will maintain their different identities and continue to serve distinct segments of the cruise market.

“The combination of three distinct brands, each serving a different market segment, under one umbrella immediately creates an industry-leading cruise operator with an unmatched growth trajectory and a portfolio of products that allows us to appeal to guests at every stage of their life cycle,” said Sheehan. “We are fully committed to retaining the brand propositions, guest experiences and cultures of the Norwegian, Oceania and Regent brands that have allowed each to realize such success.”

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Photo courtesy of Norwegian Cruise Line.