Subject category:
Strategy and General Management
Published by:
IBS Research Center
Length: 16 pages
Data source: Published sources
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Abstract
The Genting Group of Malaysia, which was engaged in hotels and resorts, incorporated Star Cruises in 1993. Star Cruises operated cruises primarily in the Asia-Pacific region. By 1999, it became one of the largest cruise lines in the world. In order to extend its services to North America, the world''s largest cruise market, it acquired the Norwegian Cruise Line (NCL) in 2000. Though after the takeover Star Cruises was able to increase its revenues, its profits started to slide resulting in a cumulative loss of US$193.5 million between 2000 and 2004. However, the company management was convinced that the investment in NCL would pay off in the long run and had ambitious future plans.
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Abstract
The Genting Group of Malaysia, which was engaged in hotels and resorts, incorporated Star Cruises in 1993. Star Cruises operated cruises primarily in the Asia-Pacific region. By 1999, it became one of the largest cruise lines in the world. In order to extend its services to North America, the world''s largest cruise market, it acquired the Norwegian Cruise Line (NCL) in 2000. Though after the takeover Star Cruises was able to increase its revenues, its profits started to slide resulting in a cumulative loss of US$193.5 million between 2000 and 2004. However, the company management was convinced that the investment in NCL would pay off in the long run and had ambitious future plans.