Norwegian moves into luxury cruising with Oceania and Regent purchase

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Operations at Oceania Cruises and Regent Seven Seas are as usual today after Norwegian Cruise Line’s announced the purchase of the two cruise brands.

Overnight, Norwegian confirmed it had entered a final agreement to acquire Prestige Cruises International – the parent company of premium cruise lines Oceania and Regent.

As part of the $3,025 billion agreement, Norwegian procured 11 upscale ships.

The US-based company has made its growth plans no secret, with one new ship joining the Norwegian fleet every year between 2013 and 2019.

However, the latest acquisition comes as a bit of a surprise because Oceania and Regent’s upscale vessels are vastly different to Norwegian’s mass-market products.

Norwegian Cruise Lines chief executive Kevin Sheehan said the company is committed to retaining signature Oceania and Regent features, including their guest experiences.

“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,” he explained.

Frank Del Rio will remain as Prestige Cruises International’s chief executive officer.

Cruise Passenger is awaiting response from both Norwegian Cruise Line and Oceania Cruises as to whether their sales and marketing operations in Australia will remain separate entities.

Meanwhile, Mr Sheehan expects the acquisition will also allow the company to offer new cross-brand opportunities, including collaboration on packages and cross-business support.

Mr Del Rio said joining the Norwegian family will start a new chapter for Prestige.

“The combination is very compelling and will allow us to further enhance our renowned guest experience,” he said.

“We are looking forward to joining the Norwegian team and building upon the success that our three brands have already achieved.”