Premier Cruises

Premier Cruises was a cruise line holding company formed in the early 1990s, focusing on the family cruise market and expanding cruise operations into new geographic regions. The company’s business strategy centered on acquiring older cruise vessels, refurbishing them to offer a "traditional cruise experience," and operating them in regions such as Europe and South and Central America.

At the time, major cruise operators such as Carnival Cruise Line, Norwegian Cruise Line, and Royal Caribbean International were not prioritizing these markets. Premier Cruises primarily targeted European and South American customers through strategic marketing partnerships with leading tour and travel companies, including Thomson Holidays in the United Kingdom, TUI in Germany, Fritidsresor in Scandinavia, Alpitour in Italy, and Pullmantur in Spain (which was later acquired by Royal Caribbean International for $800 million). The company also collaborated with more than a dozen operators in South and Central America, such as CVC in Brazil, which was acquired by The Carlyle Group (63.6%) in January 2010 for $250 million. Premier Cruises maintained its main offices in Cape Canaveral and Miami, Florida.

History

Premier Cruise Lines

Premier Cruise Lines was founded in 1983 by cruise industry veterans Bjornar Hermansen and Bruce Nierenberg under a licensing agreement with the Walt Disney World Resort. It served as the direct predecessor to Disney Cruise Line.

In 1992, The Walt Disney Company decided to establish its own cruise line and terminated its licensing agreements with Premier. To maintain its family-friendly image, Premier subsequently entered into a similar licensing agreement with Warner Bros., featuring Looney Tunes characters. The cruise line continued to operate, offering land-and-sea vacation packages that included visits to Walt Disney World and Universal Studios theme parks in Florida.

Acquisition

The company was originally established as Cruise Holdings Ltd. in the early 1990s by shipping entrepreneur Kristian Stensby. Cruise Holdings later became known as Premier Cruises after acquiring Premier Cruise Line in 1996 and adopting its name.

Following the acquisition, Premier Cruises operated three distinct divisions. The company expanded its fleet by acquiring ships from Dolphin Cruise Line, Holland America Line, Thomson Cruises, SeaWind Cruises, and Direct Cruises.

From its inception, Stensby expanded Premier Cruises from a single ship to a fleet of six, operating itineraries in the United States, Bahamas, South America, the Caribbean, and Europe. By the time he resigned as chairman and chief executive officer in the fall of 1997, the company had annualized revenues exceeding $200 million, an operating profit of over 20%, and more than 3,000 employees. At its peak, with 5,500 lower berths, Premier Cruises was the largest privately held cruise line in the world.

After Stensby’s departure, Premier Cruises came under new ownership and management led by Bruce Nierenberg. The company shifted its business strategy, canceling marketing agreements with international partners such as Thomson Holidays and Pullmantur, and repositioning several ships back to the United States.

Several former marketing partners took this opportunity to establish their own cruise operations. Pullmantur in Spain launched Pullmantur Cruises following the end of its partnership with Premier. Royal Caribbean International later acquired Pullmantur Cruises in 2006. Similarly, Thomson Holidays expanded its own cruise operations, which later became part of TUI Group, the world's largest travel company.

In late 2000, Premier Cruises filed for bankruptcy and ceased operations.

Fleet

Several former Premier Cruises vessels remained in operation until recent years. The SS ''Oceanic'' ("Big Red Boat") was sold by Pullmantur (a Royal Caribbean subsidiary) in April 2009 to the Japan-based organization Peace Boat. The SS ''Rembrandt'', formerly known as the SS ''Rotterdam'', was purchased by an investor group in the Netherlands to be restored and preserved as a historic landmark in Rotterdam.

In 2012, the SS ''Oceanic'' was sold for scrap. The former ''Starship Majestic'', later renamed '' Ocean Dream'', continued operating in Asia. However, by 2016, the ''Ocean Dream''—which had changed owners multiple times and was eventually abandoned—capsized and sank off the port of Laem Chabang, Thailand, leaking oil into the Gulf of Thailand.

Former fleet

Acquired

Canceled

Notes

References

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Defunct cruise lines