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WestCord Hotels – Rotterdam’s future secure

After years of uncertainty following the instruction to the majority shareholder in the ship, the Dutch social housing corporation Woonbron, to sell its stake, the future of the former transatlantic liner Rotterdam is more secure than at any time since the demise of her former owner, Premier Cruise Lines, in 2000. The story of her long and tortuous refit to bring her to where she is today has already been told. Woonbron became involved in the project in around 2005 following the bankruptcy of her then owner, SS Rotterdam BV, and the passing of ownership to the Port of Rotterdam Authority.

Woonbron took a majority share in the venture, with a minority held by Eurobalance, a Dutch investment business. The latter pulled out in 2006, leaving Woonbron with 80 per cent ownership of the ship, but more significantly 80 per cent of the escalating costs of refurbishment, estimated at between €250 and €280 million. But now an agreement has been reached for the Dutch hotel group WestCord to acquire the ship for €29.9 million.

Ships Montly - January 2024

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