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Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a leading global cruise company that operates some of the most recognized brands in cruise travel: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With a fleet of 32 ships and approximately 66,500 berths, the company offers diverse itineraries to nearly 700 destinations worldwide. Over its 48-year history, Norwegian Cruise Line has introduced freestyle cruising, a concept that gives guests greater flexibility and transformed the cruise industry.
Operations and Fleet
Norwegian Cruise Line operates 13 purpose-built freestyle cruising ships, providing guests with a relaxed, resort-style vacation on contemporary ships. Oceania Cruises is renowned for its culinary and destination-focused experiences on eight small, luxurious ships. Regent Seven Seas Cruises offer all-inclusive, ultra-luxury voyages on five elegant ships. The company plans to introduce 13 additional ships across its brands by 2036, adding approximately 41,000 berths to its capacity.
Achievements and Recent Projects
Norwegian Cruise Line has been recognized as “Europe’s Leading Cruise Line” for seven consecutive years and “Caribbean’s Leading Cruise Line” three times by the World Travel Awards. The company recently added the Norwegian Getaway, a 4,000-passenger ship homeported year-round in Miami, featuring 28 dining options.
Oceania Cruises has announced a free pre-cruise hotel stay offer for select sailings through late 2024 and 2025, enhancing guest convenience and enriching their travel experience. Additionally, Oceania introduced celebrated Chef Giada De Laurentiis as its Brand and Culinary Ambassador, further solidifying its commitment to offering The Finest Cuisine at Sea®.
Financial and Strategic Developments
Norwegian Cruise Line Holdings has a disciplined multi-year de-leveraging plan and strategic initiatives focusing on fleet expansion and sustainability. The company’s latest initiative, the “Charting the Course” strategy, aims to enhance shareholder returns by improving guest experiences, capitalizing on high-growth opportunities, and driving operational excellence.
In 2024, the company is increasing its financial guidance, expecting Net Yield growth from 6.4% to 7.2%, Adjusted EBITDA from $2.25 billion to $2.30 billion, and Adjusted EPS from $1.32 to $1.42. The company continues to focus on sustainability with initiatives to reduce greenhouse gas emissions and advance towards decarbonization.
Partnership with Fincantieri will see the construction of eight new transformational ships across its brands, emphasizing innovation, efficiency, and sustainability. Additionally, infrastructure enhancements are planned for Great Stirrup Cay, the company’s private island in the Bahamas, to accommodate increased capacity and enhance guest experience.
Conclusion
Norwegian Cruise Line Holdings Ltd. remains a pivotal player in the cruise industry, known for its innovative approach and commitment to providing exceptional vacation experiences. As the company expands its fleet and enhances its offerings, it continues to set industry standards for luxury, sustainability, and guest satisfaction.
Norwegian Cruise Line Holdings (NCLH) reported a first-quarter 2021 net loss of $(1.4) billion, or EPS of $(4.16), a decrease from the prior year's net loss of $(1.9) billion. Revenue plummeted to $3.1 million from $1.2 billion due to cruising suspension. The SailSAFE health and safety program mandates vaccinations and testing to ensure safe voyages. Bookings have improved, with future demand exceeding 2019 levels. The company raised $1.6 billion through equity offerings, while total debt reached $12.2 billion, with $3.5 billion in cash and cash equivalents.
Norwegian Cruise Line Holdings (NCLH) has announced a $10 million cash support initiative for six Southeast Alaska communities adversely affected by the cruise tourism suspension. Approximately 60% of Alaska's tourism relies on cruise operations, which have been halted for over a year, leading to a projected $3.3 billion economic impact. The funds aim to alleviate economic hardships faced by local businesses and families. Norwegian also joined the 'Shop Local Alaska' program to encourage support for small businesses and has submitted a plan to the CDC to safely resume cruising by July 4.
Norwegian Cruise Line Holdings (NYSE: NCLH) announced that it will release its first quarter 2021 financial results on May 6, 2021, at 7:00 a.m. Eastern Time. A conference call is scheduled for 10:30 a.m. Eastern Time to discuss these results, and it will be available via webcast on the Company's Investor Relations website. Norwegian Cruise Line Holdings operates the Norwegian, Oceania, and Regent Seven Seas Cruises brands with a fleet of 28 ships and 60,000 berths, including nine additional ships set to launch through 2027.
Norwegian Cruise Line (NCL) announces the restart of operations in Europe from Barcelona and Rome, launching Mediterranean and Greek Isles itineraries starting September 5, 2021. With safety protocols from the Sail Safe™ program, NCL will offer seven-night cruises aboard Norwegian Epic and 10 to 11-day voyages on Norwegian Getaway. The redesigned Haven complex on Epic features upgraded suites and dining experiences. NCL has canceled other cruises through late 2021 but is optimistic about future redeployments. The Company extends its Peace of Mind cancellation policy for bookings through October 31, 2021.
Oceania Cruises has announced the resumption of cruise operations with its 1,250-guest Marina starting August 29, 2021, from Copenhagen, focusing on Scandinavia and Western Europe. The company will implement its SailSAFE™ health protocols to ensure safety amidst COVID-19, backed by health experts. Additionally, the OceaniaNEXT initiative aims to enhance the guest experience with upgraded dining and services. The full fleet's restart dates will be announced later as port conditions are evaluated.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) announced the resumption of its cruise services, starting with Oceania Cruises in August and Regent Seven Seas Cruises in September 2021. Norwegian Cruise Line also plans Mediterranean voyages in September. All voyages will comply with the SailSAFE health program, necessitating vaccinations and COVID-19 testing. The company is awaiting CDC feedback on its proposal to resume U.S. cruising by July 4, 2021. The phased approach will accommodate public health considerations, including potential cancellations affecting guests.
Norwegian Cruise Line Holdings (NCLH) has submitted a reminder letter to the CDC, urging the lifting of the Conditional Sailing Order to allow the resumption of U.S. cruises starting July 4. The company emphasizes its multi-layered SailSAFE Health and Safety Program, which mandates 100% vaccinations for guests and crew, as essential for safe cruising. NCLH believes its plan exceeds CDC standards, promoting public health while enabling the company to recommence operations and boost the economy. The company awaits a prompt response from the CDC to facilitate its operational plans.
Norwegian Cruise Line launches "EMBARK – The Series" on April 15, 2021, showcasing the brand's return to service starting July 25, 2021. The inaugural episode, titled "Great Cruise Comeback," airs at 8 p.m. ET, featuring insights from executives including CEO Harry Sommer. The series will highlight safety measures for cruising, technology enhancements, and the impact of the operational pause on small businesses. Viewers can participate in a live pre-show discussion at 7:30 p.m. ET and access the episode on-demand the next day at www.ncl.com/embark.
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