Future Princess Cruises seasons to generate $300 million

Future Princess Cruises seasons to generate $300 million

Yesterday, the Port of Houston Authority managed to sort a deal out with Princess Cruises, which now extends the current deal by a further two years, although they have had to pay around $80,000 for marketing. If you are a resident and feel your money is being wasted, then fear not, as this is expected to generate around $155 million to the community and create 736 jobs.

However, with the Norwegian Cruise Line also headed to the port, the total amount of money generated throughout these contracts is $300 million, which is a huge deal for the port, especially when the Bayport Cruise Terminal sat idle for years after being built.

NCL signed the first agreement for the terminal last year, and so getting this latest contract is a sign that the fortunes for the terminal could be about to change. We have to wonder which cruise company will be next?

At the time, NCL signed a three-year deal and Princess a one-year deal, now the latter has extended this by another two to match Norwegian Cruise Line’s

The port’s executive director had said that while the port is still in its infancy, they are looking for new opportunities and so help to generate more revenue for the port, the community and the surrounding areas, and there are said to be talks with other companies already, which will not go down well with the Port of Galveston, as they see the Port of Houston as competition.

Source: Houston Business Journal.

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