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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 (NYSE: NCLH) will announce its Q4 and full year 2020 financial results on February 25, 2021, at 7:00 a.m. Eastern Time. A conference call to discuss these results will follow at 10:00 a.m. and will be available for live webcast on the Company’s Investor Relations website. Norwegian Cruise Line Holdings operates three brands: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises, with a joint fleet of 28 ships and plans for nine new ships through 2027.
Norwegian Cruise Line Holdings (NYSE: NCLH) has extended its suspension of global cruise voyages, now including all departures through May 31, 2021. This decision aligns with the ongoing efforts to adhere to the CDC's Framework for Conditional Sailing Order as the company prepares for a safe return to operations. All scheduled trips for Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises are affected. Guests with impacted bookings are advised to contact their travel advisors or the cruise line for further details.
Norwegian Cruise Line Holdings Ltd. has extended its suspension of all cruise voyages across Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises through April 30, 2021. This decision aligns with the CDC's Framework for Conditional Sailing Order, as the company focuses on enhancing health protocols to ensure passenger safety. Guests with affected bookings are encouraged to contact their travel advisors for details. Norwegian Cruise Line Holdings operates a fleet of 28 ships with an upcoming delivery of nine additional vessels through 2027.
NCL Corporation Ltd., a subsidiary of Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH), has completed a private offering of $850 million in 5.875% senior notes due 2026. The net proceeds will be used for general corporate purposes, and the notes will have guarantees from certain NCLC subsidiaries. These notes were offered to qualified institutional buyers and will not be registered under the Securities Act. The company faces risks related to the COVID-19 pandemic impacting travel demand, operational challenges, financing needs, and compliance with health protocols.
On December 15, 2020, NCL Corporation Ltd. priced $850 million of 5.875% senior notes due in 2026, a rise from the prior $500 million. The offering, exempt from SEC registration, will close on December 18, 2020. Proceeds will be utilized for general corporate purposes. The notes will be guaranteed by certain subsidiaries on a senior unsecured basis. This move highlights the company's efforts to enhance liquidity amid ongoing challenges from the COVID-19 pandemic.
NCL Corporation Ltd. (a subsidiary of Norwegian Cruise Line Holdings Ltd., NYSE: NCLH) announced plans to sell $500 million in senior notes due 2026 through a private offering. The offering is exempt from registration under the Securities Act and proceeds will be used for general corporate purposes. The Notes will have senior unsecured guarantees from certain subsidiaries. This offering is limited to qualified institutional buyers and non-U.S. investors, reflecting a strategic move amidst ongoing impacts from the COVID-19 pandemic.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) published its 2019 Stewardship Report, highlighting progress in its sustainability efforts through the Sail & Sustain program. The company achieved a ‘B’ climate change score from CDP, surpassing sector and global averages. Key initiatives included establishing a dedicated ESG department, reducing single-use plastics, enhancing workplace diversity, and launching relief campaigns. The report emphasizes the importance of environmental responsibility, with a commitment to improving sustainability despite ongoing public health challenges.
Norwegian Cruise Line Holdings Ltd. (NCLH) is installing AtmosAir's bi-polar ionization air purification systems across its 28-ship fleet. This technology promises continuous COVID-19 disinfection, achieving a 99.92% reduction in the virus within 30 minutes. The initiative aims to enhance health and safety protocols onboard, allowing guests and crew to feel more secure. The move reflects Norwegian's commitment to rigorous safety standards in a challenging travel environment. The company operates Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises and has nine additional ships scheduled for delivery by 2027.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) has announced an extension of its global cruise voyage suspension due to COVID-19. All voyages for Norwegian Cruise Line with embarkation dates from January 1 to February 28, 2021, and select voyages in March 2021 are affected. Additionally, all voyages for Oceania Cruises and Regent Seven Seas Cruises will be suspended from January 1 to March 31, 2021. The company continues to collaborate with health authorities to ensure safety protocols are met for future operations.
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