Bankrupt - Crystal Cruises
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- Опубликовано: 5 май 2022
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Since the early 90's, one special cruise line made a name for themselves as the ultimate, luxury vacation at sea. Crystal Cruises became a large brand despite only having a small fleet of ultra luxury cruise ships. Competing with the likes of Viking and Ponant, the line became beloved by their millions of passengers. However, just as the new year of 2022 was rung in, the company announced they would by filing for bankruptcy and their ships arrested for non-payment. How did this once great cruise line fall so far?
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BrightSunFilms 2022
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"Attention, passengers. This is your captain speaking, and we are all under arrest."
Whenever I hear of ships being "arrested" I imagine how big the handcuffs must be.
He meant the ship owners
@@johnharris4899 No, he meant the ship. It's a thing, arresting a ship.
Lol
They'd have to be big enough to go on the props, right? Propcuffs?
@@sergiomendez9231 lmfao.
Wow! Being arrested for unpaid bills is a great thing evidently.
And not unexpected, apparently. Sounds like the captain may have been getting stiffed on the bill as well.
Well, stealing isnt legal.... 😳
@@watsisbuttndo829 it the ship still for sale?
Lmao. The captains announcement killed me😅
Now that I've finally finished the video, I understand the context of this comment. XD
I work in the cruise industry. I am a Travel Agent, and deal with cruises all day long. This was a NIGHTMARE for me. I am STILL trying to get money back for guests.
Dayum..... 😶
You should have lost your job
Oof, that sounds like a huge headache.
Sounds worse than what had happened to WOW Air
I'm not familiar with how a travel agent works, but would it be easier to go through you to get onto a cruise or just do it myself?
7:04 Having your promo renderings showing the ship literally hitting an iceberg is certainly a bold marketing strategy.
Lmaooo yeah i don’t think that was the aim but it does kinda look like that now that you’ve pointed it out
Maybe they are implying that it'll be an unsinkable ship? :(
@@Suisfonia the expedition had a 20 inch thick keel...it technically could never sink by an ice burg at least
As a former international tax recovery specialist here, this collapse screams 'Triad' to me. What better way to wash dirty money than shuffling it between banks, creditors, and tax havens? Classic tactic designed to go bust within a 2-3 years, which is when federal authorities and major creditors cease negotiations and enforce court orders. By then, the money has been cleaned and the enterprise can safely fail.
@@watershed44 Most people don't realise how easy it is to commit financial fraud, particularly if a company/corporation is fronted by a charismatic 'face'. I saw one person who was what we termed a 'phoenix', as in new companies would rise from the ashes of the old, and this guy had been banned by the ASX from holding directorship after 120 corporate collapses... yet he was given a new round of bank funding by a major bank. Just went on committing fraud because corporate penalities are laughably soft.
True. Spending money like drunken mafia is always a clue.
@@watershed44 Not allowed, unfortunately. I am still bound by a confidentiality clause. I wish I could name and shame these jerks but they're not worth me risking 8 years jail time. It's awful for me knowing if I disclose names, I go to jail longer than they do for corporate crimes.
Yes, Merger and acquisition on their own assets among their business is a classic tactic in clean out dirty footnotes in their ledger.
@@taniasalu2405 I mean, most people don't know shit about financial fraud, or how any of this works.
I sure don't. How would I?
Jake, your videos have taught me more about bankruptcy and failed businesses more effectively than any of my classes in school. Love your videos!
That’s the best complement I could ever receive. Thanks!
Hi
Probably because the education institutions don't want you to know the hard, real truths of the business world.
Jake and Company Man got me somewhat interested in business economics as well. 👍
Honestly, these video are one of the few places that teach the real dangers of debt funded expansion.
“It all comes down to poor management” just about sums this train wreck up. I’m sure the Hong Kong execs blame the pandemic but you only have to look at their competitors to see that’s not the real problem. It was typical excessive greed and stupid decisions above all else.
As soon as i saw they were sold to a chinese company they were doomed. they have built literal cities for stupid reasons and never filled or used.
a cruise company buying a huge new freaking plane, that’s the most insane part I think…
@@Kni0002 Carnival Cruise Corp had their own airlines at one point. Virgin Voyages (cruiseline) is part of the Virgin Group which owns Virgin airlines. But everyone knows running an airline is very difficult.
Exactly. Look at Viking.
Don't you main 'ship' wreck?
So sad... My grandmother (RIP) would take our entire family of 20+ on Christmas cruises every year starting back in 1994. I was 9 when I was on my 1st crystal cruise. It was the harmony. After a few years we changed it to the symphony. A total of 12 2 week crisis with this line. I have nothing but the best memories on these ships and it breaks my heart learning of their demise.
I started my first contract as a dining room waiter on the harmony 94 on the 21.12. and did the following 4 Christmas Cruises there and 98-99 on the Symphony. I remember once I served two big families. 17 pax family Wagner first seating and 16 pax family kuglman. They requested me as I served them before. Was a great Christmas as they really gave me the feeling I was one of theirs. I visited one family in Florida while I was on vacation and they treated me like I was a vip guest. The guests we had loved the European mixture of staff and came back more and more.
What was your grandma doing for living?
@@vatansalvery for a living? lol you dont understand how wealth works... it works for you.
@@vatansalvery she probably invested and budgeted her money through her life.
@@vatansalvery if you time it right you can get 2 week cruises for like $500-1k per person so if she was frugal otherwise and made them pay airfare it’s not too far out of normal bounds
In retrospect, that riverboat line was by far the best idea that the new company had, if they had focused on that then when the lockdowns started they could have just moved their boats to rivers in territories with more lax regulations and they wouldn't burn nearly as much cash if they did have to sit around idle for a while.
Also expanding into aircraft was an incredibly stupid idea, none of the existing assets of a cruise company provide any benefit at all to running an airline, so they're taking on all of the risk of expanding into a totally different industry, but not getting any of the diversification benefits that could provide, since airlines are harmed and benefited by almost the exact same things.
Couldn’t agree more
The river cruise boats are not sturdy enough to go to sea, so they are effectively locked into one river system. If a boat is on the Tagus River in Portugal or the Loire in France, it has to stay there. The only major exception is that the canal between the Rhine and Danube rivers means that boats on those rivers can traverse anywhere between the Netherlands and Romania.
@@Dave_Sisson just as a side note, there are ship transport services that can handle pretty big ships worldwide. They move lots of luxury yachts between Europe, Caribbean, Etc each Summer-winter season.
But you have a point there.
Even ballast tanks cause big headaches due to living stuff, imagine such huge salt water releases.
Something to think about.
@@xiro6 The river cruise boats are very long and skinny, they have a much bigger length to width ratio than any sea going ship, so I seriously doubt they could be picked up with cranes.
I think the longest distance boat transport was in 2015 from Hobart to London. The Incat shipyard, which normally builds big 10,000+ ton fast ferries, got an order to build small 35 metre river ferries for London. They were too small to traverse two oceans, so they loaded them onto one of the ships you are talking about and transported them to the other side of the world.
I agree starting an airline is a very bad idea as it's a notoriously low margin/high cost industry. At least the River boat category is a very hot category currently.
Love it when Jake covers the cruise industry!
I could totally say the same thing, too, haha!
Thanks :D
Same man
I’ve never been on a cruise ship so I live my experiences through these vids lol
I love it when Jake covers anything . Jake has to be the most thorough RUclipsr covering content like this . Job well done !
I've been amazed by how many cruise lines there have been and still exist. These have been great.
If we took just 5 cruise ships out of commission, it's the equivalent of taking every single car in Europe off the road. That's how damaging Cruise ships are
Same, I don't see how they stay profitable, like how many people cruise per year? It's just such an unappealing holiday to me, haha.
Honestly, I'm shocked that Covid wasn't what killed Crystal despite it being during the lockdown and aftermath that it went under. With or without 2020, they'd have gone belly up if only for the unpaid fuel although whether Genting Hong Kong would have also closed I can't say.
@@fahsky Cruises are amazing if you go a few times, but after a while it gets boring unlike other vacations that seem to stay fun after dozens of trips
@olivia harper I dunno, I live in Hawaii so I see plenty tropics & if I want a beach, I can drive to one. Being stuck on a boat for days just seems quite boring.
I just recently toured Indianapolis International airport a few weeks ago and turns out that the Crystal Cruises Boeing 777-200LR is sitting outside the Comlux hangar with the Crystal name painted over. Wish I had a chance to tour the interior and see the remnants of Crystal's fleet.
They used to store it at my airport. Few people I know go to go up and look at the interior.
I saw it (or maybe it was the 787, I don't remember) in Toronto a month or two ago
Such a waste. Major airlines such as Emirates, and others have tried that super-expensive pandering to wealthy passengers idea with their premium first class, and as grandiose as the offerings were, mainly have proved a total failure.
I think we can step back and learn something here: When you plan something very ambitious and focus about the great future ahead, you’re going to drop the anchor at that point you just started thinking ambitiously and start sinking.
I was on Symphony when this happened. I have worked on many cruise ships and companies and it broke my heart! There has never been nor there ever will be a cruise like this.
Genting ruined what was a beautiful thing. Both for the crew and our guests.
The German ship yards were a giant financial drain as they hadn’t been making years even before Genting purchased them.
Also that second captains announcement was only made after the guests have been gone and most of the crew.
There is still a lot of interest in crystal as a brand and many of us crew are waiting both onboard and at home waiting until we can go back to our home from home and a company we love. I also know many of our guests are still hoping also.
Thank you for this video. Was nice to see someone not reporting fake news and it did bring a tear to my eyes seeing my beautiful Symphony again.
I was in Bimini, wondering what the ship was doing out there.
Crystal will always be Crystal to everyone who worked and sailed with Crystal.
Genting owners are from Malaysia. The family was among Malaysia’s top billionaires and held that spot for years until 2019 or 2020.
Don’t worry there’s another “symphony” ship out there
Honestly sounds like the parent company just said “Screw it! Just do ALL the ideas and we’ll take out a couple loans. What’s the worst that could happen? Our entire industry just gets halted by some global pandemic?” and then just told the Crystal Cruise Line “Don’t worry fam, we totally got the money to cover the cost.”
I love the bankrupt series SO much!
Thank you so much!
I was a very proud Crystal Harmony Dining Room Waiter for 5 Years from 94-99 and had the best time of my life. Even we worked hard for 6 months up to 12 hrs a day, 7 days a week we had fun as we were and still are the Crystal Family.
@@watershed44were you wondering if the management team would try to buy Crystal cruises the company or start a brand new company? I suspect the company brand name alone is worth tens of millions if not over a hundred million so the management team would need lots of financial support.
The most galling thing is - Genting CEO Lim Kok Thay, despite all the financial issues with Genting HK, was still compensated well that he notched the distinction of being Malaysia's best paid CEO!
I was on a cruise in Freeport Bahamas at the beginning of April and they had both of these ships docked and had cranes taking these ships apart piece by piece. Someone said they were doing that because some of the removable (sellable) items in the ship were put in and the area was built around those items, so the only way to get them out is to cut out parts of the ship to remove them. But it was kinda sad seeing these 2 ships there looking like they were being scrapped piece by piece.
The very last time I was on a cruise was a few months before my high school graduation. I still have the photo I was in when I boarded the first cruise I've ever been to.
I feel bad for the captain of the ship, having to announce to everyone that he just lost his job
I was the one who lost
Sorry to hear that🙏didn't you get any compensation
@@nn.739 yes crystal is amazing company, the best one
@@sergiipetrychenko414 with ur experience try in other cruises.All the best😍
Bankrupt is my favorite series, and I'm not lying.
My wife and I sailed on two crystal cruises and considered them a five star experience. So sorry to see them go.
Agreed
Was on the Crystal Mozart in 2016 sailing the Danube River. Nicest river cruise i have been on. I booked the lowest class cabin but for $3800.00 I wasn't dissapointed! Everything was free-even most excursions except the pastry tour. But even there, Crystal comped everyone on board credit of $300.00 which was more than enough to pay for the tour. It's sad that Crystal couldn't make it.
IMO, Viking River Cruises sets the standard for European river cruises. The Crystal 'brand' name added 20% to your tab and did not match the value from Viking.
When did you go? I went on that exact cruise around that time too! Did you try the free rental ebikes they lent out?
There is no doubting that Crystal's customer service was first class, and looked after passengers very well. That remains to the company's credit. Providing value for the fare and the pampering seemed to have provided the company with much goodwill. They just went out of control on ambition, lending and then the enforced shut downs for over two years killed it all.
Small update to this: the mega-cruise liner “Global Dream” is currently being negotiated to be sold as scrap, as no buyers even showed interest in the ship.
That’s the Global Dream 2, the unfinished hull. The nearly completed ship will not be scrapped.
Update: Disney bought it lol
This is really sad to hear. I remember a few years ago, my parents won a cruise with Crystal on their Mediterranean route. They still talk highly about that trip, saying that Crystal would be the only brand they would cruise with. I hoped to take a cruise with them someday.
Post-video update: you might get to do that after all. Another company has since bought both of the mainline Crystal ships and the brand, and seems to be preparing them to sail again. The Endeavor has also already returned to service as part of Silversea.
Jesus, there's more overlap in companies in this show than there are mentions of Michael Eisner in Defunctland.
😆
20:49 I think you meant “pescatarian” not “Presbyterian” but wow did I get such a good laugh from that, so it was worth it 😂
He also said 'fresh frood'
Ok so I’m high while watching this and thought my brain made that up 😂😂😂
He also pronounced the Crystal Esprit as “E-spirit” rather than “ess-PREE”. I chalk it up to dyslexia lol
@@marvelousTUD He also said that Boeing 777 cost $400 million. Dude added a whole extra zero. 🤣
The fact that the one ship that was mentioned that was meant to hold over 9000 people could hold more people than live in my ENTIRE town is insane.
I have never even heard of Crystal Cruises. Great episode of Bankrupt as always Jake.
You sound poor.
I loved Crystal!
Did you ever read magazines like Conde Nast Traveler in the 90s through the early 2000s? Crystal advertised a lot in them. I was shocked and saddened to see them go. I never got a chance to sail on them. I'm sure the trip would have been a memorable one.
@@largol33t1 I had never read that magazine before.
Crystal was great.
A small minority, but noticible, use cruise ships as floating nursing homes, since, with some deals, a ship may actually be cheaper to live on than some the homes i've seen. I would say that it is brand loyalty for Crystal, though, as it is rather more expensive. My grandparents were considering doing such a thing on Holland America or Princess.
I’ve never known this or even thought about it…
There is a guy known as "Super Mario" who lives on Royal Caribbean ships. He paid 72k per year.
A cruise ship getting arrested. Just when I think I’ve seen everything on this channel. (But seriously, great vid, Jake!)
Being arrested is a serious thing...
In days of old, what would happen is that somebody would go aboard and nail a notice of arrest and detainment onto the bottom of the mast. They would then go to the Bridge and remove the ship's papers and maybe even the log books and take them to an Admiralty Court.
"MV Werften" went into insolvency and was broken up, btw.
2 were bought by private bidders (including the famous Meyer Shipyard), one was bought by the local municipality.
To think that these were the guys who only 6 years ago were planning to bring the United States back into seagoing service. I don't want to imagine what would've become of her if that had happened, once this situation arose. As I've been saying for a little while now, that was a Blessing in disguise. Real shame Crystal went under: they looked top of the line. Sounds like Genting screwed them over.
Genting was wilding out with their future plans! I can’t imagine buying a luxury residence on a cruise ship.
When management says, we are not going out of business, they are toast. Hysterical
I remember sailing on Crystal to South America when I was a kid. My family made a close friend while on the ship.
Oh that’s a fun itinerary, nice!
Sailed with Crystal several years ago, a real treat, we were close to booking again in 2020. I guess we missed the hassles by a hair. Sorry to see Crystal go.
I'm glad I was able to experience a cruise back when the world sort of still made sense (2010) It was on Norwegian and I am so glad it was with them...the passengers were older so things were mellow and peaceful!
20:48 I rarely take note of the ads, but I'm curious if he possibly misread "pescetarian" here...?
As far as I know the Presbyterians don't follow a strict diet...
Whoops! My error
@@BrightSunFilms heh, that happens, but it did make me pay attention to the sponsor segment. 😅
Common across the bankrupt series: mismanagement/greed and inability to adjust to new market demands because of debt
This is an example of a
truly sad end to a beautiful line of ships and passenger experiences. I have been researching maritime history for the last 33 years and I have only ever been on one cruise in my life, and it was one of the most memorable experiences I've ever had next to my wedding and my kids being born. We went on Royal Caribbean Grandeur of the Seas during it's 50th voyage and it was absolutely beautiful.
11:24 Jake states "...apart from it also being very ugly" ...Couldn't agree more..!
It’s hideous
Controversial hot take - modem cruise ships are hideous. It’s a floating building - no lines, no style, absolutely soulless. Just call the things the SS Profit Margin and be done.
That’s why I like Disney’s ships
@@BrightSunFilms I’ll give props to Cunard for the Queens as well, but those are not cruise ships.
@@mattperiolat only Queen Mary 2 of the current Cunard fleet is an ocean liner/cruise ship hybrid (being an ocean liner first and foremost but also having to be adaptable and therefore dual purpose like QE2 and several other ocean liners of the late 1950s through to the 1970s were too).
The current Queen Elizabeth and her sister Queen Victoria are variants of the Vista Class cruise ship which is originally a HAL (Holland America Line) design built by Fincantieri. The upcoming Queen Anne is also a cruise ship, being a variant of the Pinnacle Class cruise ship which is also originally a HAL design built by Fincantieri - the Vista Class on steroids.
I saw the Crystal Symphony docked in Acapulco, Mexico in the 2000's and it was amazing. This is so sad, the pandemic truly was the demise of so many businesses. Excellent video!
For some reason going on a cruise has never really enticed me. It just feels like a giant floating hotel with 100 times more people. I'm also skeptical of the cleaning services for everything a cruise offers- the pools and rooms and such.
Most cruise ships have a ratio of about 2 passengers to 1 crew member, even the cheapest ones have about a 3 to 1 ratio while the nicest cruise lines have a 1 to 1 ratio. Only a few of those crew work in the engine room or steer the ship, the vast majority work in customer service roles. That means that everything is immaculate. Even the cheap cruise lines are far cleaner than a 4 star hotel.
Its worth it. I've been on 10 cruises myself and its so much fun. its more than just a floating hotel. Just imagine all the luxuries of going on vacation but everything like food, movies, theater, etc is all free once on board. the only you'll pay extra is from extra stuff you want or the on shore excursions.
@@growingup15 That's what I've heard. Sounds like a poor use of money.
Living in a country that has horrible histories with shipping vessels, even luxury ships are a no-go for me.😆
My parents have taken about 25 cruises. They just got home from the first cruise to sail out of Vancouver since the scamdemic.
Thanks for covering this episode. I really did love the Brand name " Crystal " but ever since the news article stated the arrest of "ships" I was confused as to why. This episode made me understand everything and heartbroken to see a wonderful logo and ship design, fade away v_v.
My guy Jake never disappoints ❤️
Thanks!
.
You’re a bot/paid commenter.. it’s so obvious this guy bought fake views and bot comments.
When I heard about the arrest warrant for the Crystal Cruises ships early this year I just knew Jake would be doing a video on them! Well done! I enjoyed it a lot and it answered a lot of questions I had on what happened.
Yes! I love his Bankruptcy videos. I binge watched all of them way too fast.
Thanks!
Perfect way to cap off a Friday. Thanks Jake!
My wife and I were fortunate enough to have cruised on the Crystal Endeavor to Antarctica over this last Christmas and New Years. A ship which had a capacity of 200 guests on that cruise only had 83 guest and a little over 200 crew. Absolutely magnificient. As if the expedition to Antarctica with all it's beauty and wildlife wasn't good enough, the ship, staff, food and beverages and expedition spealists made this our greatest trip of all time. We arrived back home on the 6th of January, just under the wire for the shutting down of this wonderful cruise line. So sad to see them go.
You got lucky.
I got to fly on the 777 from Las Vegas to Ft. Lauderdale for a Crystal Cruise. It was the 2nd most luxurious trip I've ever taken.
I have sailed on both the Symphony and the Serenity on several occasions. There's nothing that compares. And even though I had no more interest in cruising, it broke my heart to watch how Genting Hong Kong ruined Crystal Cruises.
Your documentaries are fascinating! The attention to detail and your narration make the experience!
Thank you!
That's crazy! My Wife and I were planning a Cruise for next year last year. We were actually looking at Crystal Cruises as an option. I guess it's a good thing we found way better, cheaper options.
I remember seeing Crystal symphony a lot in the early 2000s-2010s on the Saint Laurent which was exciting because it's a big ship that goes to Montreal
yes! we need more of cruise line documentaries! thanks so much! these are very interesting
I love all of your videos Jake and thank you for all of the time you put into making them and everything you do. I watch your videos more than I do TV. I have learned alot from you.
I have actually sailed on the Carnival Holiday, although she was the CMV Magellan by that point. It is the only cruise I have ever been on and I was sad to discover that she was scrapped in 2021 after the company Cruise & Maritime Voyages went bankrupt.
just awesome!! "unfortunately, this is the end of Crystal Cruises . . . " shutting it down like a boss!
I love it when Jake covers bankruptcy.
I really admire the quality of your Bankrupt-videos. It is great to watch your stories. Keep up the good work!
Thanks!
Jake thank you so much for covering this!
Oh my god yes!!! Love this, been waiting for another one! Thanks Jake
18:12 Oh wow, that's Peter Altmaier, former German minister for Economic Affairs and Energy. Now it's even more understandable that this went wrong, he wasn't very lucky.
I am an avid cruiser and love these videos! Love them all.
Thanks!
Great video. I was thinking about not seeing a video about this cruise line. But here it is!
Arrest is way for an admiralty court to get jurisdiction over a movable asset. Since the U.S. court was unable to affect the arrest, they lost jurisdiction. The case is being handled by the Bahamian courts. I suspect the reason for this is that there is ongoing confusion in the U.S. courts over primacy of bankruptcy law vs. admiralty law. Allowing the ship to be arrested in the Bahamas makes it a relatively straight-forward admiralty case.
Another great installment of the Bankrupt series, thank you for going so in depth about these fascinating bankruptcies that I really would have probably never have heard about in another capacity, keep up the great work!!!
Thank you!
These videos are brilliant, always coming through with the facts and put them together so creatively. I have been watching for years, big up yourself, Jake!
Thanks so much!
Jake, your storytelling skill thorough so many dramatic business and human stories is so compelling. Thank you, again.
I respect the straightforwardness and honesty of the captain who had to make that announcement. He knew the jig was up and was probably glad to an extent that things had finally resolved.
I really like Jake's videos about ships and I have a video idea: The story about how modern Cruise Ships Airplanes killed the Ocean Liner industry
Nice job to Jake and the BSF crew. Not a big cruise fan but was still a kickass and peaked my interest video. Keep up the great work!
My dawg Jake! You’ve come so far, my dude 🙌🏾 thank you for another awesome video! 🔥
This is fascinating. A lot of companies make the mistake of over expanding rather than doing one thing well. When they start taking away wages and perks, look under the table. They are probably on the downward spiral...
The cruise videos are definitely my favorite
I remember when their private boeing 777 came to my local airprot, one of the passengers said they basically spared no expense in terms of meals and alcohol while flying on-board so I take it that's why they went bankrupt.
You should do a video on Royal Viking Line, I seriously legendary brand name with a great complicated history whose vessels, later trading under other company names, are slowly disappearing from the scene. They were later associated with Cunard and the beginnings of Seaborn Cruise Line.
Your bankruptcy videos are fascinating. Please keep them coming!
Jake, I love your videos. From Abandoned to Bankrupt and Cancelled, I think your videos are some of the most informative I ever watched.👍🏻
Thank you so much!
@@BrightSunFilms You’re welcome.
Great video as always. Could you maybe consider covering the bankruptcy of Penn Central at some point? It was the biggest bankruptcy in US history at the time and changed the rail industry forever.
4 days late, but man, this is my favorite series on RUclips, so IN DEPTH! the production value is insane.
Thanks!
@@BrightSunFilms I think you mean 100 million not 100 billion you got to correct that in the video
Oh yeah! Bright Sun Films is coming back on the block these days! Keep 'em coming baby boy.. 😁
YES FINALLY ANOTHER VIDEO
So sad to watch this…I had been traveling on Crystal for nearly 20 years since I was a teenager 2-3 times a year and had two trip planned for this summer & fall! The staff was absolutely amazing and they will be the largest lose to my yearly cruise travel! I really hope the product does come back but I agree the bankruptcy seemed very much planned my the parent company. I had family members on the ships as the announcement happened and the service never stopped or was lacking! The final few days of the cruises were a massive party and goodbye to the beloved brand!
The intro is so good I thought I was watching a Netflix doc.
Yay it's been a while since the Bankrupt series had an episode ~~ Love it as usual~
Hell yeee more Bankrupt content from JAAAAKE
Honestly, we’re younger than average cruisers, and have been on most mainstream cruise lines (and some boutique lines) and while we’ve been on most of their competitors, we were never tempted by Crystal. Their ships are largely small, dated, and, frankly, boring. While they had some interesting itineraries, we were never interested in paying an insane premium to share a ship with people twice our age.
I have no doubt the ships were nice enough, but that only goes so far, particularly given the premium they wanted for the cabins. I’m sorry to see cruise lines go, and I appreciate the video. I’d honestly rather pay half the price and get the nicest cabin on Princess.
As an airline pilot, I had to laugh at the 777 and 787. These people apparently had no clue how expensive operating huge airliners on luxury junkets were.
I was really thinking the same thing
I was on a Royal Caribbean cruise liner that docked alongside Crystal Serenity at Nassau in October of 2021. I honestly had no idea Crystal was in such dire straits at the time, pun very much intended. There weren’t a lot of people on board at the time based on what I could see of her top decks from above (our own vessel easily dwarfed her), but I had just assumed the majority of passengers went ashore.
"You with the luxury decks! Come out with your anchors up!"
😄🤣
Lmfao! This is definitely the best comment of the year.
Amazing work
Thanks!
So bizarre to come back and watch this again, now that Disney has bought the Global Dream.
Loved it. Watching these and learning about how difference parts of the economy fail simply is a lesson for me
Your videos are so detailed and informative while also so fun to watch. Thank you, Jake!
Thanks so much!
Loved the vid! Have you ever thought of doing a ‘corruption’ / ‘insurance fraud’ series? I feel like there could be some really intriguing stories from those. Just an idea
Jake would 100% knock it out of the park with an American Greed-style series on Ponzi schemes and scams
Awesome video Jake! I think overambition is the word I'd go with. They had a winning formula and just tried to go too far, too quickly!
Thanks! Couldn’t agree more
An insane amount of expansion in such a short time
Love this series! Was stoked to get a notification for this vid!! 🙌🏻
Thanks Riki!