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NCLH to work on finances, 2023 booking trend positive, but fourth quarter 2022 loss looms

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 08 November 2022 08 November 2022

Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest listed cruise shipping group, said it would continue to work on its financial flexibility and that booking trends for next year were encouraging. However, it forecast a net loss for the fourth quarter of 2022.

“We are on track to generate positive Adjusted Free Cash Flow in the fourth quarter as we continue to march towards our expected return to historical occupancy levels beginning in the second quarter of 2023,” said Mark A. Kempa, executive vice president and chief financial officer.

“We are proactively working to further enhance our financial flexibility and liquidity, including the amendment and extension of our Operating Credit Facility which we expect to complete by year-end,” he said in a statement.

As expected, NCLH’s current cumulative booked position for the fourth quarter of 2022 is below the comparable 2019 period but at higher prices even when including the dilutive impact of future cruise credits (“FCCs”). “Dilution from value-add FCCs issued during the pandemic will not carry over into 2023 as the bonus portion of these FCCs expire at year-end 2022,” the company said.

Booking trends for full year 2023 remain positive with cumulative booked position equal to record 2019 levels inclusive of increase in capacity. “Pricing is significantly higher than that of 2019 at a similar point in time for full year 2023. Net booking volumes continue to be at the pace needed to reach historical Load Factor levels in 2023,” NCLH said.

At the end of September, NCLH’s advance ticket sales balance, including the long- term portion, was $2.5 billion. “This includes approximately $260 million of FCCs or approximately 10% of the total deposit balance. Approximately 60% of the FCC balance outstanding has been applied to future sailings. Gross advance ticket sales build was approximately $1.5 billion during the quarter, in line with the prior quarter,” the company noted.

NCLH said that as a result of the COVID-19 pandemic, the effects of the Russia-Ukraine conflict and current macroeconomic conditions, it would report a net loss for the fourth quarter of 2022.

NCLH cuts third quarter loss as revenue per PCD rises 14%

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 08 November 2022 08 November 2022

Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest listed cruise shipping company, has significantly reduced third quarter loss as revenue per passenger cruise day (PCD) rose 14%, which exceeded the company’s forecast.

“Strong ticket pricing and onboard revenue generation resulted in better-than-expected total revenue per Passenger Cruise Day which was up approximately 14% in the third quarter of 2022 versus 2019, higher than guidance for a high-single digits increase and despite the impact of the Russia-Ukraine conflict on premium-priced Baltic itineraries,” the company said in a statement.

Net loss in the third quarter narrowed to $295 million from $845 million year-on, while operating loss was reduced to $185 million from $689 million. Revenues increased to $1.62 billion from $153 million, reflecting the resumption of services and higher prices and onboard spending. NCLH continued its phased ramp-up in the third quarter focusing on maximizing long-term pricing, which resulted in a 17-point improvement in Occupancy to approximately 82%, consistent with previously outlined expectations.

Net interest expense fell to $152.3 million 2022 compared to $161.2 million in 2021. Interest expense decreased primarily as a result of lower interest expense in connection with recent refinancings and higher interest income, partially offset by higher debt balances and higher rates.

“We are demonstrating continued positive momentum as we consistently reach key operational and financial milestones, including positive Adjusted EBITDA in the third quarter for the first time since the start of the pandemic, ‘said said Frank Del Rio, president and CEO.

“The underlying fundamentals of our business and our target upmarket consumer remain strong and our strategy of focusing on maximizing long-term, sustainable profitability is working as intended, evidenced by our 2023 booked position which is equal to 2019’s record levels and at record pricing,” he said in the statement.

Princess Cruises unveils 360: An Extraordinary Experience on Discovery Princess

Details: Written by Teijo Niemelä Teijo Niemelä; Category: More News More News; Published: 07 November 2022 07 November 2022

A new, invitation-only experience from Princess Cruises will soon transport guests nightly to the Mediterranean – no matter where they’re actually sailing – engaging all of their senses with the tastes, sights, sounds, touches and fragrances of the Mediterranean.

"The fully-immersive 360: An Extraordinary Experience is the cruise line’s most epic experience ever offered and is now available onboard Discovery Princess and coming to Enchanted Princess in late January," the cruise line said in a statement.

With the 360: An Extraordinary Experience, guests booked in suite accommodations are invited to embark on a six senses journey showcasing the spectacular hilltops of Santorini, Amalfi Coast, Barcelona and Provence. Through synchronized authentic storytelling, imagery, music, scents, cuisine and stunning visual film, guests are introduced to local ingredients, artisans, passionate purveyors, and culinary methods simultaneously mirrored with a seven-course gourmet experience including wines that emerge from the story of each destination.

“360 is a fusion of master storytelling, world-class cuisine, visual entertainment and ground-breaking technology that manifests in what can only be described as an Extraordinary Experience,” said Princess President John Padgett. “360 is a remarkable adventure that immerses our guests into the compelling cultures and flavors of the Mediterranean in a 90-minute celebration of the senses.”

With two seatings nightly, the cloaked venue accommodates 20 guests surrounded by LED walls in a circular format that places guests into featured destinations using stunning 4K cinematography. The Mediterranean takes center stage as guests are drawn into the memories of a fellow traveler who relives her adventures and local connections made in each destination as her travel journal comes to life.

360: An Extraordinary Experience is configurable and adaptable, with the Mediterranean taking the debut spotlight. Venue personalization is enabled by the OCEAN platform, the Internet of Things platform that powers the exclusive MedallionClass on all Princess ships, and, in addition, each guest receives a unique and limited “360” Princess Medallion that is only available to guests that have participated in the Extraordinary Experience.

Beloved actress and model Brooke Shields, renowned for her extensive modeling, film and TV careers, in addition to her latest entrepreneurial project Beginning Is Now, a global digital platform and brand inspiring inspire women over the age of 40 to live their fullest lives, is the voice of Bethany, the voyager who takes guests on the sensory journey.

An experience that is as memorable as it is priceless, 360 is currently available exclusively for guests booked in suite accommodations on Discovery Princess and Enchanted Princess or for guests sailing on the Discovery Princess or Enchanted Princess that book a future cruise with suite accommodations on any Princess ship including Princess Premier at non-cancelable rates. Invitation access may also be gained from participation in specific “VIP” casino gaming and retail event sailings.

Azamara unveils 2025 world cruise

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 07 November 2022 07 November 2022

Azamara has published its 2025 World Voyage, departing from San Diego, California and visiting 37 countries before concluding in Southampton, UK.

“Taking place on the independent cruise line’s latest ship, Azamara Onward, this itinerary will include 15 overnights and 31 late stays in port, giving guests more time to immerse themselves in each unique destination,” the company said in a statement, adding that the line’s 2024 world cruise has sold out.

“We are thrilled to have our second world cruise aboard Azamara Onward. With 60% of ports on this sailing being different from those on our 2024 world voyage, this itinerary was carefully curated to give even the most well-traveled guests a new perspective on the world,” said Carol Cabezas, President of Azamara, in the statement.

“Our 2025 world cruise invites travelers to not only see the world, but also take their time in each destination and make memories that will last long after the journey has ended.”

Destinations that will be highlighted throughout the itinerary include:

Honolulu, Hawaii: Azamara makes its long-awaited return to the beloved Hawaiian Islands with a late stay in Honolulu, where guests can discover stunning beaches, vibrant sea life, and authentic Hawaiian cuisine and culture.

Samoa and Tonga: Guests will experience the less-traveled islands of Samoa and Tonga with famed whale swimming experiences and rich Samoan culture.

Sydney, Australia: An overnight stay offers guests the chance to dive deeper into Sydney’s breathtaking beaches, iconic Opera House and vibrant food, arts and entertainment scene.

Stewart Island, New Zealand: Off the beaten path is New Zealand’s southernmost island, a tranquil and unspoilt destination with less than 500 inhabitants. A majority of the island is Rakiura National Park, home to coastal rainforests, sand dunes, mountain ranges, and native wildlife.

The cruise will feature 13 complimentary land events, beginning with a kickoff gala in San Diego. Additional highlights of Azamara’s immersive land experiences offered on the 2025 World Cruise include:

Benoa, Bali: Guests will discover Benoa’s natural beauty and the charm of the island’s deep-rooted culture during a special AzAmazing Evening, where local performers will display traditional forms of dance with intricate footwork and finger movements.

Bangkok, Thailand: A two-night stay offers guests the chance to truly immerse themselves in Bangkok’s local culture through the city’s food, music, dance, art and Buddhist temples. Travelers can opt for shore excursions to the mountainous city of Chiang Mai in northern Thailand and the Southeast Asian country of Lao, known for its Buddhist monasteries and French colonial architecture.

Semarang, Indonesia: Semarang is known as the Venice of Java for the many rivers that run through the center of the city. From this port, guests can take a shore excursion to Borobudur, the world’s largest Buddhist temple dating back to the 9th century.

Explora Journeys adds seven appointments to first ship team

Details: Written by Kari Reinikainen Kari Reinikainen; Category: More News More News; Published: 07 November 2022 07 November 2022

Explora Journeys, the luxury lifestyle brand of MSC Group, has announced the appointment of seven new positions on Explora I, the first of its six ships, which is set to make its maiden cruise in summer 2023.

Michael Ungerer, Chief Executive Officer, Explora Journeys said in a statement: “We are a step further forward in our vision to create a team of diverse and multicultural, luxury hospitality professionals. Embracing a customer centric mindset and culture, we are poised to provide intuitive and respectful hospitality as we continue our vision to transform luxury ocean travel. I am extremely proud of our team who are leading this critical phase of our journey and wish all our team members every success on their journey with us.”

Effective immediately, these new appointments are:

Heike Berdos, General Manager, formerly Hotel Director with Azamara Cruises where she spent fifteen years as part of the starter team to launch the new brand. Prior to this, Heike used to work for MSC Cruises as Shore Excursions Manager and held various guest service positions with Celebrity Cruises over 23 years culminating to her appointment as Hotel Director. Heike was born in Germany and raised in Algeria, Canada and Germany.

Simone Canessa, Staff Captain, started his career with MSC on board of MSC Rhapsody in 2005. The past seventeen years during his tenure with Costa Cruises, Simone held various position both onboard and ashore before being promoted to Staff Captain in 2021. He was born and raised in Italy.

Antonio Iaccarino, Chief Engineer, formerly Chief Engineer for five years as part of a 27-year career with the MSC Group where his career began as 2nd Engineer leading to promotions to 1st Engineer and Chief Engineer in both the Cargo and Cruise Divisions. Antonio was born and raised in Piano di Sorrento, Italy.

Salvatore Ciampa, Chief Engineer, formerly Chief Engineer for 3 years as part of a 20-year career with the MSC Group where his career began as a Cadet Engineer, progressing through 3rd, 2nd and 1st Engineer in the Cruise Division. Salvatore was born and raised in Vico Equense, Italy.

Further to the recent unveiling of the culinary philosophy, Explora Journeys has appointed a further three key positions to bring Head of Culinary, Franck Garanger`s, culinary vision to life throughout eighteen food and beverage experiences including eleven culinary across six distinct and vibrant restaurants, multiple bars and lounges, in-suite dining and a Chef`s Kitchen.

New team members are:

Frederic Godineau, Senior Executive Chef, formerly with Oceana Cruises where he spent six and a half years. Most recently spending five years as Senior Executive Chef, having been promoted from Executive Chef. Prior to joining Oceana Cruises, Frederic spent nineteen years in hospitality commencing at Le Crillon and The Four Seasons, George V and other prestigious hotels in France. Frederic was born and raised in Chemille, France.

Christophe Sapy, Corporate Executive Pastry Chef Explora Journeys. Formerly with the Mandarin Oriental Hotel Group where Christophe was Executive Pastry Chef for three years at Mandarin Oriental Hong Kong and previously as Executive Pastry Chef for 3 years at Mandarin Oriental Bangkok, Thailand. Prior to this Christophe spent ten years in the Middle East with luxury properties at Le Meridien Dubai, Shangri La Qariat al Berry Abu Dhabi as well as being part of the opening of St Regis Saadiyat Island. Christophe was born and raised in Saint Étienne, France.

Jérôme Toumelin Corporate Executive Chef. Formerly Corporate Travelling Chef de Cuisine for The Apollo Group for seven years, specifically working at sea with Regent Seven Seas and Oceana Cruise Lines. Prior to this, Jérôme spent six years as Executive Chef at Market by Jean-Georges in Paris. Jérôme, who was born and raised in the Loire Valley, France also spent his earlier career in St. Barts, Sydney, Ho Chi Minh and London.

Franck Garanger, Head of Culinary, Explora Journeys said, “We continue to attract and build a stellar team of award-winning professionals to bring our vision to life. Remaining true to our commitment to provide distinct and sophisticated culinary experiences where ingredients are hand selected to ensure only sustainably sourced are selected, we place integrity at the core of our vision. I am so excited to be working with a dynamic and creative team, focused on showcasing a culinary `Ocean State of Mind` for our guests”.