Norwegian Cruise Line Holdings Announces Donation of Waterfront Parcel in Juneau to Alaska Native-owned Huna Totem Corporation for New Pier Development

Rhea-AI Summary

Norwegian Cruise Line Holdings Ltd. (NCLH) has donated undeveloped waterfront property in Juneau, Alaska, to Huna Totem Corporation, aimed at developing a new pier and facilities. This partnership is set to enhance the local economy by boosting tourism and creating jobs year-round. Once the pier is developed, Norwegian will gain preferential berthing rights, improving visitor experiences. This initiative aligns with sustainable tourism goals while respecting local culture. The investment originally cost Norwegian $20 million, won through a competitive bid in 2019.

Positive

• Donation of waterfront property to Huna Totem provides preferential berthing rights.
• Expected boost in tourism revenue and job creation in Juneau.
• Alignment with sustainable tourism and local community respect.

Negative

• None.

Conversion of Parcel to New Pier and Welcome Center will Provide Significant Boost to Local Economy

Partnership with Huna Totem Further Strengthens Company’s Position in Popular Alaska Cruise Market with Preferential Berthing Rights

MIAMI, Aug. 23, 2022 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (“Norwegian” or the “Company”) (NYSE: NCLH), a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, today announced it is donating its undeveloped waterfront property in Juneau, Alaska to the native-owned Huna Totem Corporation, a long-standing partner and a local leader in Alaska’s tourism development. Engaging with other Alaska Native corporations and community stakeholders, Huna Totem will lead efforts to develop a new pier and related infrastructure on this parcel and is expecting to submit plans for the year-round facility before the end of the year. With this donation, the Company will receive preferential berthing rights at the pier once development is complete. The project is expected to bring significant benefits to every aspect of the local and visitor experience by eliminating tendering operations, improving traffic flow, and welcoming visitors to a purpose-built facility. Locally owned and operated, the future waterfront complex will boost the economy by increasing tourism revenue and creating employment opportunities year-round.

“We are pleased to be able to donate our property in the heart of Juneau to Huna Totem Corporation to develop a new pier and surrounding facilities. Ensuring this project is fully integrated into the local community is incredibly important to us, and as we began planning its development, it became abundantly clear that Huna Totem, owned entirely by native Alaskans, was the right stakeholder to lead this effort,” said Dan Farkas, executive vice president and general counsel for Norwegian Cruise Line Holdings who overseas corporate construction. “Alaska is an incredibly popular, fast-growing destination, and this partnership will provide the dual benefit of driving positive, sustainable economic impact to the region while also ensuring that the development of the land is done in a way that is respectful and representative of the rich history and culture of this community.”  

“Huna Totem is thrilled to partner with Norwegian once again to expand regenerative tourism in Alaska with the development of a new pier in Juneau,” said Russell Dick, Huna Totem Corporation president & chief executive officer. “In following with Huna Totem’s port development model, design and development of the new destination will reflect our guiding principles as Native Alaskans while protecting and preserving the natural beauty of Juneau, empowering our community, and fully supporting the region’s tourism-based economy.”

The Company originally won the competitive bid for the last waterfront parcel in Juneau, Alaska for $20 million in 2019. Since then, the Company has been engaging local stakeholders, including government, business, and community leaders to develop a plan which will benefit both the city and its various stakeholders.

About Norwegian Cruise Line Holdings Ltd.

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. With a combined fleet of 29 ships with over 62,000 berths, these brands offer itineraries to approximately 500 destinations worldwide. The Company has eight additional ships scheduled for delivery through 2027, comprising over 20,000 berths.

About Huna Totem Corporation

Formed under the Alaska Native Claims Settlement Act of 1971 (ANCSA), Huna Totem Corporation represents more than 1,550 Alaska Native shareholders with indigenous ties to the community of Hoonah, Alaska, and Glacier Bay. Since opening Icy Strait Point in 2004, it has welcomed over two million cruise travelers, and is the single largest employer in the community of Hoonah. Huna Totem’s port model is globally recognized and has received numerous awards, including Seatrade’s Global Port of the Year in 2020, and is #11 on the New York Times, 2022 Top 52 Places for a Changed World. In addition to tourism, Huna Totem maintains operations in federal contracting, and natural resources.

Norwegian Cruise Line Holdings Investor Relations & Media Contact

Jessica John
(305) 468-2339
InvestorRelations@nclcorp.com
NCLHMedia@nclcorp.com

FAQ

What is the significance of Norwegian Cruise Line's property donation in Juneau, Alaska?

The donation will enable the development of a new pier by Huna Totem Corporation, enhancing tourism and local economy.

How will Norwegian Cruise Line Holdings benefit from this property donation?

Norwegian will gain preferential berthing rights at the new pier once it's developed.

What are the expected economic impacts of the new pier in Juneau?

The development is anticipated to boost tourism revenue and create year-round employment opportunities.

When did Norwegian Cruise Line acquire the waterfront parcel in Juneau?

Norwegian won the bid for the parcel in 2019 for $20 million.