Premier Cruises
Encyclopedia
Premier Cruises was a cruise line
holding company formed in the early 1990s that focused on the family cruise market as well as on developing cruise operations in new geographic markets. The company's business focus was to acquire older cruise vessels, refurbish these vessels in order to offer "traditional cruise experiences", operate the vessels in geographic areas, such as Europe and south/Central America, which the major operators such as Carnival Cruise Line, Norwegian Cruise Line
and Royal Caribbean International
were not focusing at the time, and to market their cruises largely to Europeans and South Americans customers through strategic marketing partnerships with some of the major tour and travel groups in the world such as; Thomson Holidays
in the U.K, TUI
in Germany, Fritidsresor in Scandinavia, Alpitour in Italy, Pullmantur in Spain (acquired by Royal Caribbean International for USD 800 million) as well as through more than a dozen operators in south / Central America such as CVC in Brazil which was acquired by the Carlyle Group (63.6%) in January 2010 for USD 250 million. The company was operating out of its main offices in Cape Canaveral, and Miami, Florida.
, in the early 1990s which was the entity that later became known as Premier Cruises after Cruise Holdings acquired Premier Cruise Line
(and adopted the "Premier Cruises" name) in 1996.
After the acquisition, Premier Cruises consisted of three different operations; i.e. Premier Cruise Line (Oceanic or the "Big Red Boat"), Dolphin Cruise Line , Seawind Cruise Line as well as the vessel (previously known as Holland America Line
s flagship the SS Rotterdam).
From the company's inception, Mr. Stensby grew Premier Cruises from one to six ships, operating on itineraries in the United States, Bahamas, South America, the Caribbean and Europe. Mr. Stensby resigned as Chairman and Chief Executive Officer of Premier Cruises in the fall of 1997 after growing the company to annualized revenues in excess of $200 million, an operating profit in excess of 20% and more than 3,000 employees, making Premier Cruises, with its 5,500 lower berths, the largest private cruise line in the world at the time.
Post 1997 Premier Cruises (under new ownership and management led by Bruce Nierenberg) changed their business strategies and decided to cancel their marketing agreements with international marketing partners such as Thomson Holidays, Pullmantur and others and decided to reposition a number of their ships back to the United States.
A number of these marketing partners used this opportunity to establish their own cruise operations, such as Pullmantur Pullmantur Cruises
in Spain who established their own cruise operations (Pullmantur Cruises) after the cancellation of their partnership with Premier Cruises. Pullmantur Cruises
, through its parent company, was purchased by Royal Caribbean International in 2006. Thomson Holidays also used the opportunity to build and expand their cruise operation post 1997 and is now part of the largest travel group in the world TUI.
Premier Cruises filed for Bankruptcy in late 2000 and ceased operations - three years after Mr. Stensby left the helm of the company in 1997.
was formed in 1983 by two cruise veterans, Bjornar Hermansen and Bruce Nierenberg under a licensing agreement with the Walt Disney World Resort
and was the direct predecessor to the Disney Cruise Line
. In 1992 The Walt Disney Company
decided to establish their own cruise line and terminated their licensing agreements with the company. Premier then entered into a similar licensing agreement with Warner Bros.
featuring the Looney Tunes
characters in order to maintain its family friendly image. The line continued to operate offering land/sea vacation package including visits to Disney World and Universal Studios theme parks
in Florida.
Some Premier Cruises vessels are still operating today such as the SS Oceanic (Big Red Boat), which was sold by Pullmantur (a Royal Caribbean company) in April 2009 to Japan-based Peace Boat, and the SS Rembrandt, formerly known as the SS Rotterdam, was purchased by an investor group in Holland, to be restored and kept as a historic landmark in the city of Rotterdam.
Cruise line
A cruise line is a company that operates cruise ships. Cruise lines have a dual character; they are partly in the transportation business, and partly in the leisure entertainment business, a duality that carries down into the ships themselves, which have both a crew headed by the ship's captain,...
holding company formed in the early 1990s that focused on the family cruise market as well as on developing cruise operations in new geographic markets. The company's business focus was to acquire older cruise vessels, refurbish these vessels in order to offer "traditional cruise experiences", operate the vessels in geographic areas, such as Europe and south/Central America, which the major operators such as Carnival Cruise Line, Norwegian Cruise Line
Norwegian Cruise Line
Norwegian Cruise Line is a company operating cruise ships, headquartered in unincorporated Miami-Dade County, Florida. It began operations in 1966 under the name Norwegian Caribbean Line. The company is best known for its Freestyle Cruising concept, which means that there are no set times or...
and Royal Caribbean International
Royal Caribbean International
Royal Caribbean International is a Norwegian and American cruise line brand based in Miami, Florida and owned by Royal Caribbean Cruises Ltd.. With 42 ships in service under 5 different brands and one more under construction, it controls a 25.6% share of the world cruise market...
were not focusing at the time, and to market their cruises largely to Europeans and South Americans customers through strategic marketing partnerships with some of the major tour and travel groups in the world such as; Thomson Holidays
Thomson Holidays
Thomson Holidays is a UK based travel operator and part of TUI Travel PLC. The company was founded as part of the Thomson Travel Group in 1965 following the acquisition of three package holiday travel agencies and the airline Britannia Airways by Roy Thomson...
in the U.K, TUI
TUI AG
TUI AG is a German multinational travel and tourism company headquartered in Hanover. Until 2001 it was an industrial and transportation company named Preussag AG, which in the mid-1990s decided to reinvent itself as a tourism, shipping, and logistics company...
in Germany, Fritidsresor in Scandinavia, Alpitour in Italy, Pullmantur in Spain (acquired by Royal Caribbean International for USD 800 million) as well as through more than a dozen operators in south / Central America such as CVC in Brazil which was acquired by the Carlyle Group (63.6%) in January 2010 for USD 250 million. The company was operating out of its main offices in Cape Canaveral, and Miami, Florida.
History
The company was originally established as Cruise Holdings Ltd. by shipping entrepreneur, Kristian StensbyKristian Stensby
Kristian Stensby is a Norwegian-American entrepreneur and businessman involved in the marine and particularly the cruise line industry. Kristian Stensby is the President and Chief Executive Officer of Ocean Group.-Background:...
, in the early 1990s which was the entity that later became known as Premier Cruises after Cruise Holdings acquired Premier Cruise Line
Premier Cruise Line
Premier Cruise Line a subsidiary of Premier Cruises, was a cruise line that was headquartered in Cape Canaveral, Florida. It was at one time licensed as the official cruise line of Walt Disney World and used the trademark "The Big Red Boat" based on the color scheme of some of its ships...
(and adopted the "Premier Cruises" name) in 1996.
After the acquisition, Premier Cruises consisted of three different operations; i.e. Premier Cruise Line (Oceanic or the "Big Red Boat"), Dolphin Cruise Line , Seawind Cruise Line as well as the vessel (previously known as Holland America Line
Holland America Line
The Holland America Line is a cruise shipping company. It was founded in 1873 as the Netherlands-America Steamship Company , a shipping and passenger line. Headquartered in Rotterdam and providing service to the Americas, it became known as Holland America Line...
s flagship the SS Rotterdam).
From the company's inception, Mr. Stensby grew Premier Cruises from one to six ships, operating on itineraries in the United States, Bahamas, South America, the Caribbean and Europe. Mr. Stensby resigned as Chairman and Chief Executive Officer of Premier Cruises in the fall of 1997 after growing the company to annualized revenues in excess of $200 million, an operating profit in excess of 20% and more than 3,000 employees, making Premier Cruises, with its 5,500 lower berths, the largest private cruise line in the world at the time.
Post 1997 Premier Cruises (under new ownership and management led by Bruce Nierenberg) changed their business strategies and decided to cancel their marketing agreements with international marketing partners such as Thomson Holidays, Pullmantur and others and decided to reposition a number of their ships back to the United States.
A number of these marketing partners used this opportunity to establish their own cruise operations, such as Pullmantur Pullmantur Cruises
Pullmantur Cruises
Pullmantur Cruises is a cruise line headquartered in Spain. It began operations in the late 1990s as an offshoot of the Madrid-based travel agency Pullmantur. Pullmantur Cruises, through its parent company, was purchased by Royal Caribbean Cruises Ltd. in 2006.- Overview :Pullmantur Cruises is the...
in Spain who established their own cruise operations (Pullmantur Cruises) after the cancellation of their partnership with Premier Cruises. Pullmantur Cruises
Pullmantur Cruises
Pullmantur Cruises is a cruise line headquartered in Spain. It began operations in the late 1990s as an offshoot of the Madrid-based travel agency Pullmantur. Pullmantur Cruises, through its parent company, was purchased by Royal Caribbean Cruises Ltd. in 2006.- Overview :Pullmantur Cruises is the...
, through its parent company, was purchased by Royal Caribbean International in 2006. Thomson Holidays also used the opportunity to build and expand their cruise operation post 1997 and is now part of the largest travel group in the world TUI.
Premier Cruises filed for Bankruptcy in late 2000 and ceased operations - three years after Mr. Stensby left the helm of the company in 1997.
Premier Cruise Line
Premier Cruise LinePremier Cruise Line
Premier Cruise Line a subsidiary of Premier Cruises, was a cruise line that was headquartered in Cape Canaveral, Florida. It was at one time licensed as the official cruise line of Walt Disney World and used the trademark "The Big Red Boat" based on the color scheme of some of its ships...
was formed in 1983 by two cruise veterans, Bjornar Hermansen and Bruce Nierenberg under a licensing agreement with the Walt Disney World Resort
Walt Disney World Resort
Walt Disney World Resort , is the world's most-visited entertaimental resort. Located in Lake Buena Vista, Florida ; approximately southwest of Orlando, Florida, United States, the resort covers an area of and includes four theme parks, two water parks, 23 on-site themed resort hotels Walt...
and was the direct predecessor to the Disney Cruise Line
Disney Cruise Line
Disney Cruise Line is an American cruise line company owned and operated by Walt Disney Parks and Resorts, a division of The Walt Disney Company and is headquartered in Celebration, Florida. The business is run by President Karl Holz. Disney Cruise Line operates the Disney Cruise Line Terminal,...
. In 1992 The Walt Disney Company
The Walt Disney Company
The Walt Disney Company is the largest media conglomerate in the world in terms of revenue. Founded on October 16, 1923, by Walt and Roy Disney as the Disney Brothers Cartoon Studio, Walt Disney Productions established itself as a leader in the American animation industry before diversifying into...
decided to establish their own cruise line and terminated their licensing agreements with the company. Premier then entered into a similar licensing agreement with Warner Bros.
Warner Bros.
Warner Bros. Entertainment, Inc., also known as Warner Bros. Pictures or simply Warner Bros. , is an American producer of film and television entertainment.One of the major film studios, it is a subsidiary of Time Warner, with its headquarters in Burbank,...
featuring the Looney Tunes
Looney Tunes
Looney Tunes is a Warner Bros. animated cartoon series. It preceded the Merrie Melodies series and was Warner Bros.'s first animated theatrical series. Since its first official release, 1930's Sinkin' in the Bathtub, the series has become a worldwide media franchise, spawning several television...
characters in order to maintain its family friendly image. The line continued to operate offering land/sea vacation package including visits to Disney World and Universal Studios theme parks
Universal Parks & Resorts
Universal Parks and Resorts is the theme park division of NBCUniversal, a subsidiary of Universal Music Group and General Electric. The division is responsible for the operation and maintenance of the various Universal Studios resort properties around the world...
in Florida.
Some Premier Cruises vessels are still operating today such as the SS Oceanic (Big Red Boat), which was sold by Pullmantur (a Royal Caribbean company) in April 2009 to Japan-based Peace Boat, and the SS Rembrandt, formerly known as the SS Rotterdam, was purchased by an investor group in Holland, to be restored and kept as a historic landmark in the city of Rotterdam.