Norwegian Cruise Line Holdings achieved record first quarter bookings with revenue up 20% year on year.
The owner of Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises generated total revenue of $2.2 billion in the three months to March 31 on capacity growth of 8%.
Adjusted earnings [ebitda] almost doubled in the period to $464 million in a performance driven by strong revenue growth and continued focus on cost reductions and efficiencies, according to the company.
NCLH said: “The company continues to experience healthy consumer demand and thanks to a strong wave season, had record bookings during the first quarter leading to a continued record booked position for the next 14 months.
“Additionally, onboard revenue per capacity day remains robust, up 11% in the quarter compared to 2023, with broad-based strength across all revenue streams.
“The company’s advance ticket sales balance, including the long-term portion, ended the first quarter of 2024 at an all-time record high of $3.8 billion, approximately 13% higher than the same period of 2023.”
NCLH reported an advance ticket sales balance at an all-time record high of $3.8 billion at the end of the first quarter, about 13% higher than the same period in 2023.
The group reinforced its confidence in the sector by last month confirming a “transformative” order for eight new ships representing almost 25,000 additional berths, including new classes of vessel for each brand.
Full year profit guidance was raised by $50 million to $2.25 billion on the back of the strong start to the year.
Also, an increase in net yield guidance has been driven by “exceptional demand” across all three brands which “almost fully offsets” the impact from the redeployed voyages related to the Middle East and Red Sea.
President and chief executive Harry Sommer said: “We kicked off 2024 with impressive momentum, with record bookings in the first quarter propelling us to continue our all-time high booked position and an unprecedented level of advance ticket sales.
“These achievements demonstrate the continued growing demand we are experiencing for our product and offerings.
“Recently, we announced the most comprehensive newbuild program in our company’s history – eight state-of-the-art vessels, each a new class for our three award-winning brands as well as the construction of a new pier at Great Stirrup Cay.”
He added: ”Later this month at our Investor Day, we will be unveiling our comprehensive multi-year strategic, operational and financial updates, which will underscore our focus on delivering experiences that our guests truly value.
“By enhancing our capacity and elevating our product to create the best, largest, and most efficient vessels in our fleet, we are honouring our 57-year history of innovation that has always driven our growth and continues to be at the forefront of what we do.”