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Viking Holdings Ltd (symbol: VIK) is a renowned travel company specializing in unique and immersive travel experiences. With a fleet of 92 small, state-of-the-art ships, often referred to as floating hotels, Viking offers unparalleled travel adventures across all seven continents. The company excels in three main categories of the cruise industry: river, ocean, and expedition cruising.
Viking Holdings Ltd categorizes its offerings based on the type of cruise and the language of service. The River segment primarily focuses on providing river cruises outside the United States, catering to English-speaking passengers. The Ocean segment offers luxurious ocean cruises targeted at English-speaking travelers. The Expedition segment encompasses thrilling expedition cruises for English-speaking adventurers, including exclusive journeys along the Mississippi River and Mandarin-language cruises in China under the Viking China brand.
Recent achievements of Viking Holdings Ltd include significant expansions in their fleet and destinations, ensuring a broader range of travel options for their guests. Their commitment to delivering high-quality services and memorable travel experiences has cemented their reputation in the industry.
Financially, Viking Holdings Ltd continues to show robust performance, supported by strategic partnerships and innovative projects that enhance their offerings. The company maintains a strong market presence and strives to deliver consistent growth, appealing to both seasoned travelers and those new to cruise vacations.
In summary, Viking Holdings Ltd stands as a leader in the travel and cruise industry, offering meticulously curated travel experiences across the globe. Their dedication to service excellence and continuous improvement ensures they remain at the forefront of the industry.
Viking Holdings (NYSE: VIK) has announced the pricing of its secondary public offering of 30,000,000 ordinary shares at $31.00 per share. The selling shareholders are offering all shares and have granted underwriters a 30-day option to purchase up to an additional 4,500,000 shares. Viking will not receive any proceeds from the offering. The offering is expected to close on September 13, 2024.
Lead underwriters include BofA Securities, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities. HSBC and Morgan Stanley are acting as bookrunners, while Rothschild & Co, Stifel, Drexel Hamilton, , Loop Capital Markets , and R. Seelaus & Co., are co-managers. The offering will be made through a prospectus, with the registration statement declared effective on September 11, 2024.
Viking Holdings (NYSE: VIK) has announced the launch of a secondary public offering of 30,000,000 ordinary shares by certain selling shareholders. The underwriters have been granted a 30-day option to purchase up to an additional 4,500,000 shares. Viking itself is not offering any shares and will not receive proceeds from the offering.
BofA Securities and J.P. Morgan are acting as lead underwriters and representatives, with UBS Investment Bank and Wells Fargo Securities as lead book-running managers. The offering will be made through a prospectus, with a registration statement filed with the SEC. This announcement does not constitute an offer to sell or solicitation of an offer to buy these securities.
Viking (NYSE: VIK) has announced six new itineraries in Asia for 2025, expanding access to Japan and China, including Tibet. The voyages, ranging from 15 to 22 days, will operate from September to November 2025 on the Viking Yi Dun, formerly known as Viking Sun. These itineraries offer exclusive access to rarely seen destinations in China and feature immersive experiences, insightful lectures, and regionally inspired cuisine.
The new voyages include:
- Jewels of Japan & China (15 days)
- Classic China Discovery (20 days)
- Pearls of Japan & China (22 days)
- Gems of China & Japan (22 days)
- Wonders of China (22 days)
- Best of China (22 days)
Viking Holdings (NYSE: VIK) reported strong financial results for Q2 2024. Total revenue increased 9.1% to $1,587.3 million, while Adjusted Gross Margin rose 9.5% compared to Q2 2023. Net Yield grew 6.6% to $562, and Adjusted EBITDA increased 11.6%. The company's Net Leverage improved from 3.4x to 3.0x.
Viking has already sold 95% and 55% of its Capacity Passenger Cruise Days for 2024 and 2025 seasons, respectively. Advance Bookings for 2024 and 2025 are 14% and 20% higher than previous seasons. The company's fleet capacity is set to increase by 5% in 2024 and 12% in 2025.
Net income for Q2 2024 was $155.8 million, impacted by non-cash items. Excluding these, net income was $344.6 million. Viking maintains a strong liquidity position with $1.8 billion in cash and cash equivalents.
Viking (NYSE: VIK) has taken delivery of its newest Nile River ship, the Viking Hathor. The 82-guest vessel joins Viking's fleet for the popular 12-day Pharaohs & Pyramids itinerary. Key features include:
- Elegant Scandinavian design
- 41 staterooms
- Distinctive square bow
- Indoor/outdoor Aquavit Terrace
The itinerary includes a 3-night stay in Cairo, visits to iconic sites like the Great Pyramids of Giza, and an 8-day Nile cruise. Viking is rated #1 for Rivers, Oceans, and Expeditions by Condé Nast Traveler. The company offers pre and post-trip extensions, including exclusive access to museums and archaeological sites in London, Oxford, and Highclere Castle.
Viking Holdings (NYSE: VIK) has announced a conference call scheduled for August 22, 2024, at 8:00 a.m. Eastern Time to discuss the company's second quarter 2024 financial results. The financial results will be released before the stock market opens on the same day. The call will be simultaneously webcast on Viking's investor relations website at https://ir.viking.com. Investors and interested parties can access a replay of the webcast, which will remain available for 30 days following the call. This announcement provides an opportunity for shareholders and analysts to gain insights into Viking's recent financial performance and future outlook.
Viking (NYSE: VIK) has launched an enhanced Travel Advisor Portal to provide partners with improved tools for booking and marketing. The new platform offers features such as engaging marketing content, co-branded website building assets, and access to the Travel Advisor Academy. Key enhancements include:
- Intuitive search filters for multiple cruise types
- Offer code search feature
- Improved booking dashboard
- Interactive room selection
- Ability to add Air Plus during online booking
- eQuote generation
Viking also recently swept the 2024 WAVE Awards from TravelAge West, winning in five categories including Best River Cruise Line for U.S. Sailings and Cruise Line with the Highest Client Satisfaction for ocean voyages.
Viking launches 'Summer of France' campaign, coinciding with the Paris Games. The initiative aims to inspire travelers for 2025 voyages in France, showcasing unique offerings like exclusive docking in Paris and Privileged Access experiences in Bordeaux and the French Riviera.
Highlights include:
- River voyages: Paris & the Heart of Normandy, Châteaux, Rivers & Wine, Lyon & Provence
- Ocean voyages: Malta, Morocco & the Mediterranean, Iconic Western Mediterranean
- Pre & Post Land Extensions in Aix-En-Provence, Burgundy, Loire Valley, and Paris
Viking offers special promotions until July 31, 2024, including free international airfare and $25 deposits on all-inclusive river and ocean voyages featuring France.
Viking (NYSE: VIK) has been named a “World’s Best” for oceans, rivers, and expeditions by Travel + Leisure readers in the 2024 World’s Best Awards. Viking achieved the top spot in oceans and expeditions categories and was recognized as one of the best river lines. Additionally, Viking holds the #1 position in oceans, rivers, and expeditions as per Condé Nast Traveler readers, marking a historic achievement of receiving the same honors from both publications two years in a row. Torstein Hagen, Chairman and CEO of Viking, attributes these accolades to the company's unique approach and the efforts of the Viking family worldwide. In 2023, Viking also dominated the Cruise Critic Editors’ Picks Awards with seven awards and was highly rated in the U.S. News & World Report’s 2024 Best Cruise Lines ranking.
Viking (NYSE: VIK) announced the float out of its newest ocean ship, the Viking Vesta, marking a key construction milestone. The 998-guest ship with a gross tonnage of 54,300 tons and 499 staterooms will debut in July 2025, initially sailing itineraries in the Mediterranean and Northern Europe. The float out ceremony took place at Fincantieri’s shipyard in Ancona on July 4, 2023. The Viking Vesta will then undergo final construction and interior build-out at a nearby outfitting dock. Viking also plans to welcome an identical sister ship, the Viking Vela, later this year. The company's approach of focusing on thoughtful travel experiences has earned it high ratings from Condé Nast Traveler.
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