NCLH at ‘all-time high’ for booked position and pricing

Norwegian Cruise Line Holdings (NCLH) entered 2024 at an “all-time high” for both its booked position and pricing for this year’s sailings.

President and chief executive Harry Sommer said the company, which operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises, experienced a “momentous year of growth and achievement” in 2023, having taken delivery of three new ships, the most in the company’s 57-year history.

The company said it generated a total revenue of $8.5 billion in 2023, representing a 32% increase compared to 2019, with full-year performance driven by “solid revenue growth and continued focus on cost reduction and efficiencies”.

More: Norwegian Cruise Line ship cleared to enter Mauritius after illness outbreak

NCLH said it continues to see “healthy consumer demand” shown in it experiencing some of the “best booking weeks in the company’s history” beginning with Black Friday and Cyber Monday last year.

On board revenue per passenger cruise day remains “robust”, the company said, with spend up 20% in the three months to December 31, compared to the same period in 2019. The company’s advance ticket sales balance at the end of 2023 was at a “record” $3.2 billion, approximately 56% higher than at the end of 2019.

Occupancy dropped slightly in the fourth quarter which NCLH attributed to the ongoing conflict in the Red Sea which prompted it to cancel and redirect all calls to Israel until the end of 2024. However, the company’s full-year occupancy was 102.9% which it said was in line with guidance.

In 2023, NCLH paid down its debts by $1.9 billion and, as of December 31, 2023, was in a total debt of $14.1 billion.

“Norwegian Cruise Line Holding experienced a momentous year of growth and achievement in 2023,” said Sommer.

“Looking ahead, we are determined to capitalise on our recent achievements and take advantage of the positive momentum and strong demand for cruise which resulted in turning the year at all-time highs in both our booked position and pricing.”

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