It's Official - Apollo Management Purchases RSSC

As I reported last month, Apollo Management, owner of Norwegian Cruise Line and Oceania Cruises, has purchased Regent Seven Seas Cruises from Carlson. Regent Seven Seas and Oceania will be placed in a corporation named Prestige Cruise Holdings, and NCL Corp. will remain a separate entity outside PCH. Not much else will change, according to Apollo. Mark Conroy will remain president of Regent, which will continue to operate out of Fort Lauderdale, FL, while Oceania Cruises will remain in Miami, headed by Bob Binder. Other core management and key personnel are staying with the company, Conroy said, adding that existing fares and published schedules also will remain in place.

I do think this is a good thing overall. While competition is good, it's increasingly difficult for the small, boutique brands to remain afloat (pardon the pun) without a larger player giving them capital support. And that's exactly what's happened here.

There have been some signs over at NCL that Apollo is placing a few key players in the organization, but so far, it's been mostly hands off.

If you're a lover of the smaller, deluxe and luxury brands, I think you'll see this as a positive step toward their long-term survival as distinct brands. The longer Oceania and Regent are in business, and the stronger they are, better for the overall industry and more choices for you.