Norwegian Cruise Line Holdings Ltd. and Huna Totem Corporation Sign Memorandum of Agreement for Privately Funded Development Project in Whittier, Alaska

Rhea-AI Summary

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) has partnered with Huna Totem Corporation to enhance tourism in Southcentral Alaska. A Memorandum of Agreement was signed to develop berthing and upland facilities in Whittier, including a marine vessel docking facility and a cruise ship terminal. This initiative aims to improve guest experiences while supporting the local economy following challenges faced by the Alaska cruise tourism industry. Norwegian's commitment to sustainable tourism is evident, marking its second collaboration with Huna Totem.

Positive

• Joint development project with Huna Totem Corporation to enhance tourism in Whittier, Alaska.
• Development of marine docking facilities will improve guest experience.
• Partnership supports sustainable economic impact in the region.

Negative

• None.

Development Project to Enhance Guest Experience and Bring Positive Economic Impact to Southcentral Alaska

MIAMI and JUNEAU, Alaska, March 31, 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, and Huna Totem Corporation, one of the most successful Native village corporations in Alaska, today jointly announced the signing of a Memorandum of Agreement to develop berthing and upland facilities in Whittier, Alaska.

The privately funded development project will consist of a marine vessel docking facility able to berth vessels from the Company’s three brands, along with related structures including a cruise ship terminal and facilities for rail and bus access. As the gateway to Prince William Sound, Whittier allows visiting guests to enjoy pristine nature and many of the classic sites and experiences found in southcentral Alaska, including the Portage Glacier, the College Fjord and the Anton Anderson Memorial Tunnel - the longest highway tunnel in North America.

“Alaska is one of the premier cruise destinations in the world and we are excited to partner once again with Huna Totem Corporation to develop facilities to enhance the experience of the hundreds of thousands of guests our brands bring to Alaska on a yearly basis,” said Juan Kuryla, Senior Vice-president of Port Development and Construction for Norwegian Cruise Line Holdings. “We are proud to continue our commitment to bringing positive, long-term and sustainable economic impact to the region, particularly after the challenges the Alaska cruise tourism industry has faced over the past two years.”

“The strong public-private partnership with the City of Whittier, Norwegian, and Huna Totem is the tourism model of the future for Alaska,” said Russell Dick, Huna Totem Corporation President & Chief Executive Officer. “This project integrates the natural beauty of Prince William Sound, its rich history, and diverse cultural experiences into the design of a new turn-port destination in Southcentral Alaska. Norwegian’s commitment to the Port of Whittier expands sustainable tourism for all of Alaska, and Huna Totem is thrilled to be part of this vision.”

This marks the second joint development project between the Company and Huna Totem Corporation. The two partnered to develop a second cruise pier and other facilities in Icy Strait Point, Huna Totem’s world-class cruise ship destination in Hoonah, Alaska. The Company made its inaugural call on the Wilderness Landing pier at Icy Strait Point in August 2021, holding a ribbon-cutting ceremony to officially open the pier along with the first of two gondola systems.

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 28 ships with nearly 60,000 berths, these brands offer itineraries to more than 490 destinations worldwide. The Company has nine additional ships scheduled for delivery through 2027, comprising approximately 24,000 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, natural resources, and commercial real estate.

Norwegian Cruise Line Holdings Investor Relations & Media Contact
Edel Cruz
(305) 468-2339
InvestorRelations@nclcorp.com

Huna Totem Corporation Contact
Mickey Richardson
(479) 268-1525
mickey@hunatotem.com

FAQ

What is the agreement between NCLH and Huna Totem Corporation?

NCLH and Huna Totem Corporation signed a Memorandum of Agreement to develop berthing and upland facilities in Whittier, Alaska.

How will the new facilities impact NCLH's operations?

The new facilities aim to enhance guest experiences and support sustainable tourism, potentially increasing NCLH's operational capacity in Alaska.

What is the significance of the location chosen for the new development by NCLH?

Whittier serves as a gateway to Prince William Sound, offering guests access to pristine nature and popular attractions in Southcentral Alaska.

When was the partnership between NCLH and Huna Totem Corporation announced?

The partnership was announced on March 31, 2022.