Norwegian Cruise Line Holdings has announced a remarkable milestone, achieving record first quarter bookings, attributed to a strong wave season and efficient operations.
- The cruise company’s revenue surged by 20%, reaching $2.2 billion, driven by an 8% increase in capacity and robust demand.
- Notably, adjusted earnings almost doubled, reflecting the company’s strategic focus on cost reductions and operational efficiencies.
- Advance ticket sales reached an all-time high of $3.8 billion, signifying unprecedented consumer demand across all brands.
- The firm reinforced its future prospects by ordering eight new ships, promising a transformative enhancement in capacity and offerings.
The Norwegian Cruise Line Holdings (NCLH) has proudly announced a historic achievement with record first quarter bookings, driven by a particularly strong wave season and continued demand for their offerings. This success is reflected in their impressive financial performance, underlined by a 20% increase in revenue to $2.2 billion, compared to the previous year.
The company, owner of notable brands such as Norwegian Cruise Line, Regent Seven Seas Cruises, and Oceania Cruises, witnessed a growth in capacity of 8%, which significantly contributed to the revenue boost. Moreover, the strategic focus on cost reductions and operational efficiencies has led to a near doubling of adjusted earnings before interest, taxes, depreciation, and amortisation to $464 million.
Highlighting the substantial consumer demand, NCLH reported an advance ticket sales balance at a record high of $3.8 billion by the end of the quarter, marking an increase of 13% over the same period in 2023. This financial indicator showcases a sustained interest and confidence in the cruise industry amidst a landscape of recovery and growth.
In a demonstration of confidence and forward-planning, the company confirmed a transformative order for eight new ships, which represents almost 25,000 additional berths. This includes new classes of vessels for each brand, marking a significant enhancement in their capacity and commitment to innovation.
Harry Sommer, President and CEO, remarked on the momentum carried into 2024, highlighting the record bookings and advance ticket sales as evidence of a thriving demand for NCLH’s products and experiences. He also emphasised the comprehensive newbuild programme, which will introduce state-of-the-art vessels and the construction of a new pier, reinforcing their commitment to innovation and excellence.
The achievements of NCLH reflect a thriving cruise industry poised for continued success and growth.
