Buoyant demand has seen bookings at Norwegian Cruise Line Holdings rise to 60% above pre-pandemic levels.
The cumulative booked position for the owner of Norwegian Cruise Line, Regent Seven Seas Cruises and Oceania Cruises for the remainder of 2023 continues to be at record levels and at higher pricing.
Results for the first quarter of the year show adjusted net losses cut from $760.5 million to £127.7 million year-on-year.
NCLH said: “On the heels of a very strong Wave season, the company continues to experience strong consumer demand.
“Cumulative booked position for the remainder of 2023 is ahead of 2019 levels inclusive of the company’s approximately 18% increase in capacity, at continued higher pricing.
More: NCL targets MICE sector with appointment to newly created role
“As of March 31, 2023, the company’s advance ticket sales balance, including the long-term portion, was a record $3.4 billion, approximately 26% higher than the prior quarter and approximately 60% higher than the first quarter of 2019.
“Onboard revenue generation remains robust, and the company continues to focus on increasing its pre-sold revenue from guests prior to voyage sailing, as this typically results in higher overall spend throughout the cruise journey.”
The cruise giant projected full year earnings (ebitda) of between $1.8-$1.95 billion.
Frank Del Rio, who steps down as president and chief executive on June 30 to serve as a senior advisor to the board until 2025, said: “With the post-pandemic operational recovery complete and the company solidly positioned for 2023 and beyond, now is the right time to make way for the next generation of leaders who are ready to take this company on to its newest chapter.”
His successor, current NCL boss Harry Sommer, added: “We are embarking on an exciting new chapter with an industry-leading growth profile including one new ship for each of our brands in 2023, beginning with Oceania Cruises’ outstanding Vista which we took delivery of just last week.
“We are also focused on improving profitability and accelerating our financial recovery, while maintaining the superior service levels and the exceptional guest experience our loyal guests expect from our amazing brands as well as advancing our efforts to drive a positive impact on society and the environment through our Sail & Sustain program.
“We continue to experience healthy demand across the board as evidenced by our record booked position as well as robust onboard revenue generation.”
Chief financial officer Mark Kampa said: “As we continue to focus on rebuilding our financial track record, we are pleased to report that we met or exceeded guidance on all key metrics in the first quarter, buoyed by the strong consumer demand we are experiencing across our brands.
“The results of our ongoing margin enhancement initiative are already starting to reflect in our financial results during the quarter, as evidenced by the significant sequential improvement in our operating costs.
“We will continue to capitalise and build on this momentum as we remain keenly focused on strategically improving our margins while maintaining our brands’ strong and unique positioning.”
More: NCL targets MICE sector with appointment to newly created role