pleasure ground Cruise Lines is founded in 1972 by entrepreneur Ted Arison as part of a supplemental of Boston-based American International Travel Service (AITS). The ships companys first cruise ship, the TSS Mardi Gras, runs aground on a sandbar during its inaugural voyage. Two years later in 1974, Arison decided to purchase Carnival for $1 and the assumption of AITS $5 million in debt. After growing steadily through the acquisition of existing tonnage, Carnival stunned the cruise intentness with its plans to build the Tropicale, which entered service in 1982 and fueled an industry-wide shipbuilding ruin in 1980. In 1987, Carnival completed an initial semipublic offering of 20 percent of its common stock, generating approximately $four hundred million. This influx of capital allowed the company to begin expanding through acquisition. In 1989, Carnival purchased premium cruise floozy Holland America Line, ceding back operator Windstar Cruises, Westours (now called Holland America Tours), a leading tour operator in Alaska and the Canadian Rockies. In 1992, Carnival purchased a 25 percent stake in ultra-luxury Seabourn Cruise Line, which at the date consisted of two 208-passenger all-suite vessels. Carnivals self-control in Seabourn change magnitude to 50 percent in 1996 and the company assumed abundant ownership 1999.
In 1993, the company changed the name of its parent company to Carnival Corporation to distinguish between it and its flagship cruise line. In 1997, Carnival acquired 50 percent of Costa Cruises, Europes leading cruise company and takes cytosine percent ownership of the Italian cruise operator three years later. In 1998, Carnival acquires a 68 percent stake in the venerable Cunard Line, operator of the famed Queen Elizabeth 2 (Carnival purchases the stay 32 percent share of Cunard in 1999 and simultaneously takes 100 percent control of Seabourn). In 2003, a combination of Carnival Corporation and P& adenylic acid;O Princess Cruises comprised of Princess Cruises, P&O...If you want to get a full essay, order it on our website: Orderessay
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