The sale of luxury line Crystal Cruises to Genting Hong Kong has been finalised for $550 million with plans for a new ship by 2018.

Genting wholly owns Asian line Star Cruises and is a major shareholder of Norwegian Cruise Line.

Tan Sri Lim Kok Thay, executive chairman of the Genting Group and former chairman of Norwegian Cruise Line, assumes the role of chairman of Crystal.

He replaces Nobuyoshi Kuzuya of former owner, Japanese company Nippon Yusen Kabushiki Kaisha.

The two-ship line’s president and chief operating officer, Edie Rodriguez (pictured), is promoted to president and chief executive.

Executive vice-president, Thomas Mazloum, steps up to the position of chief operating officer.

Tan Sri Lim Kok Thay said: “The current management team and crew will continue to lead Crystal’s six-star operation while Genting will provide the financial resources and proven expertise in innovative ship design to deliver a new ultra-luxury ocean vessel by 2018.”

Rodriguez said: “We look forward to ushering in a new era of luxury cruising with Genting Hong Kong’s support.

“With the support of GHK and its reputation for creating world-renowned leisure, entertainment and exquisite hospitality properties, Crystal is set to embark upon new opportunities that will expand our offerings for our guests and travel partners, as well as broader opportunities for our wonderful team of Crystal employees on land and at sea.”