I think both past guests and new guests are absolutely critical for our continued growth. Not gonna happen. Norwegian Cruise Line Holdings The cruise company fell nearly 10.2% on Tuesday after reporting a wider-than-expected loss for the fourth quarter. And then last one, this question actually might save Mark, you and Jessica a number of callbacks later. Congratulations. You will get a welcome aboard kit on your next NCL cruise. Norwegian Cruise Line CEO says it is unlikely the company will be able to restart US cruises in July. And it's our view that as long as consumers have a job and the labor markets remain strong, that they'll continue spending on the things they normally spend their money on, including vacations. Just in terms of the cost initiatives that you're talking about, can you just frame up the buckets and where you're expecting the biggest improvement and maybe like a potential upside there? Some modules are disabled because cookies are declined. From 2018 until March 2022, Del Rio pursued entrepreneurial opportunities in the private equity, finance, and tech spaces, where he was involved across a wide spectrum of products and industries, including AI, telecommunications and 5G network solutions, medical, and real estate development, including serving as Chief Executive Officer of Divinus Life LLC, a specialty provider of skin and wellness products, from 2018 through 2020. This represents a nearly 15% decrease as compared to the average of $187 in the second half of 2022. This website uses cookies. And of course, we will not lose sight of our guests, the very heart of our business, and we will continue to prioritize delivering an exceptional guest experience and superior service levels. And just recently, Giada De Laurentiis was named godmother of Oceania's upcoming Vista, which highlights the brand's focus on having the fun is to (inaudible) . In addition, we recently modified our contracts to the final 2 Prima Class ships for Norwegian Cruise Line scheduled for delivery in 2027 and '28 to reconfigure these ships to accommodate green methanol and as an alternative fuel source in the future. Just trying to figure out how you balance those 2 things? And I guess what I'm trying to get at here is I don't want to -- I'm hoping that expectations for yields don't get too ahead of themselves, if all that kind of makes sense. I think we went from on a net basis from plus 5% to about 14% to 15% growth range versus 2019. One new build being introduced for each brand this year alone and we all know new ships and above surrounding new ships have historically brought outsized attention to the brand. And even if you start looking into '24, it's never too early to talk about next year. I have 2 expense questions. With our full fleet back to the high seas, we significantly ramped up occupancy levels carrying nearly 1.7 million guests welcomed our newest ship, Norwegian Prima to our world-class fleet, reached several critical financial inflection points, maintained our industry-leading pricing and perhaps more telling, ended the year in a record booked position for 2023 and at record prices. Sounds like those are going to be a little bit bigger than the first few iterations. Mr. Abrams began his career in 1989 as an analyst in the Investment Banking Division of Bear, Stearns & Co. and then was an associate/vice president at the Argosy Group, a boutique corporate restructuring firm. I'll be back with closing comments a little later. Thank you, Jessica, and good morning, everyone, and thank you for joining us today. So I was just curious if you could unpack your current bookings a little bit? We do not have a choice there, but that is really just the accounting for it. And you can do it 1 of 2 ways in my estimation, you can discount and you can give away the product or you can market and we choose to market. 2. in Finance from Florida State University. Keep in mind that Frank Del Rio is NOT the CEO of NCL. FDR is the CEO of Norwegian Cruise Line Holdingsa financial holding company that owns thr From November 2018 through November 2021, he was the Chief Investment Officer, Harris Blitzer Sports and Entertainment. I'm incredibly proud, honored and inspired to work alongside each and every one of you. I would hesitate or caution you to just simply take the additional births and look at it as costing $1.2 billion, because there is a lot of technical aspects behind that in relation to making the vessels bigger. She was responsible for the significant growth of the business and in particular their premium and luxury brands and for leading the companys expansion into new markets. Stella David was previously the Chief Executive Officer of William Grant & Sons Limited, an international spirits company, from August 2009 until March 2016. 7665 Corporate Center Dr, Miami, Florida 33126, US, View Our press release with fourth quarter and full year 2022 results was issued this morning and is available on our Investor Relations website. So I'll start with the last one, because that's the one I can remember. Can you just explain again why you dipped into the Apollo financing? So we simply haven't seen any indication that the consumer is shying away from taking cruise vacations, at least not with our 3 brands. Regarding new builds, look, the -- we're increasing the size of 4 vessels pretty significantly by, I think, it's more than 10% on 3 and 4 and almost more than 20%. This is expected to translate to adjusted EPS of approximately $0.70 at the midpoint of our guidance. I knew someone that used to work there and the stories I heard would blow your mind. Slide 15 demonstrates the results of our deliberate and opportunistic measures to optimize our debt maturity profile. Moving to our balance sheet. Don't take it personal, its just the way that it is. Mr. Farkas joined Norwegian in January 2004 and previously held the positions of Senior Vice President, Vice President and Assistant General Counsel. New CEO for Norwegian Cruise Line, Harry Somer. And I also want to express our sincere thanks to our loyal guests, value travel partners, lenders, shipyards, investors and all of our stakeholders for their continued support and partnership. Mr. Aron has previously served as President and CEO of Norwegian Cruise Line, Chairman of the Board and CEO of Vail Resorts, Senior Vice President of Marketing for United Airlines and Senior Vice President-Marketing for Hyatt Hotels Corporation. $19.7 million. Questions about redeeming your Travel Protection: Select the brochures you would like to receive in the mail. 2023 Norwegian Cruise Line Holdings Ltd. 11-Reasons to Cruise to Alaska this Summer | NCL Travel Blog, 14-Day Authentic Alaska - Northbound Cruisetour | Norwegian Cruise Line, 14-Day Authentic Alaska - Southbound Cruisetour | Deck Plans | Norwegian Cruise Line, 20-Day Transpacific from Tokyo (Yokohama) & Alaska | Norwegian Cruise Line, 11 Reasons to Cruise to Alaska this Summer | NCL Travel Blog, 7665 Corporate Centre Drive, Miami, Florida 33126, NCL Casino Marketing, 7665 Corporate Centre Drive Miami, Florida 33126, 7665 Corporate Centre Drive Miami, Florida 33126, NCL Corporation Ltd.7665 Corporate Centre Drive Miami, Florida 33126, NCL Public Relations Department, 7665 Corporate Centre Drive Miami, FL 33126, BerkelyCareP.O. WHAT HAPPENED THERE WITH SOME EMPLOYEES? Get contact details including emails and phone numbers Certainly. In this role he was responsible for sales, marketing, public relations, business development and office operations for all markets outside of the United States and Canada. After 40 years dealing with the public I can count on one hand the number of letters and emails that look to be from sane people. Looks Like This Page Took a Permanent Holiday. Our team continually push forward to this challenging transition year, achieving several significant milestones on our road to recovery and preparing for the next chapter of our storied brands. Frank J. Del Rio; President, CEO & Director; Norwegian Cruise Line Holdings Ltd. Harry J. Sommer; President & CEO of Norwegian Cruise Line; Andy Stuart is the CEO of NCLsoon to be replaced by Harry Sommers. How he became CEO is unbelievable. Nullam egestas urna eget mauris interdum, consectetur pretium turpis condimentum. During the fourth quarter of 2022, the Norwegian Cruise Line reported losses of $1.04 per share which was more than the analysts estimates of 85 cents. So it's going to come from a lot of different places. He also co-founded Luxury Cruise Center, a high-end travel agency specializing in premium and luxury cruise experiences. On 10/14/2019 at 4:49 AM, david_sobe said: On 10/14/2019 at 5:49 AM, david_sobe said: 19952023, The Independent Traveler, Inc. E-mail Address for Frank Del Rio (NCL CEO)? It's only in the lower cabin categories that equate to a lower per diem. Executive Vice President, Chief Talent Officer Norwegian Cruise Line Holdings Ltd. Lynn White serves as Executive Vice President and Chief Talent Officer for Norwegian Cruise Line Holdings (NCLH). Since you caps locked your entire letter, we made sure to throw it immediately into the round circular bin named "delete" in our Outlook account. Additional Contacts at Norwegian Cruise Line. {{ userNotificationState.getAlertCount('bell') }}. Previously, he was the Founder & Partner, Non-Performing Loans, for Apollo Management International LLP, which he joined in 2007. Obviously, there's a lot of work that you guys have been doing there. So overall, we are trending to a, again, a bit more exotic or longer itinerary based deployments, but that's shaping up well for us, absent this what we would call a onetime Q1 anomaly with the overall restart. But that's what the company has rallied around, and that's what we're focused on. We remain confident in our ability to profitably absorb this capacity with continued consumer demand for travel, our expansion into the many unserved and underserved markets around the world that our brands have not yet tapped into, and on the broader industry's vast underpenetration particularly when compared to land-based vacation alternatives. In 2008, Prestige Cruise Holdings acquired Regent Seven Seas Cruises and quickly completed a turnaround which positioned Regent Seven Seas Cruises as the market leader in luxury cruising and in turn positioned Prestige Cruise Holdings as the premier operator of upscale cruise brands. Pro forma for these recent transactions, our liquidity position at year-end is approximately $1.8 billion, which includes approximately $650 million under the available commitment. And so as we think about that, part of that is enhancing our revenue, enhancing margins, obviously, and rightsizing our cost base. THEN, AFTER THROWING THE GLASS TO THE TRASH, HE WAS GETTING ANOTHER GLASS WITH ICE LIKE IF HE WERE ANNOYED WITHOUT BEING MY FAULT. Feel free to contact our dedicated team of Accessibility Coordinators if you have any question or concerns. Frank J. Del Rio; President, CEO & Director; Norwegian Cruise Line Holdings Ltd. Harry J. Sommer; President & CEO of Norwegian Cruise Line; Norwegian Cruise Line Holdings Ltd. Jessica John; VP of IR, Corporate Communications & ESG; Norwegian Cruise Line Holdings Ltd. Mark A. Kempa; Executive VP & CFO; Norwegian Cruise Line Holdings Ltd. Charles Patrick Scholes; MD of Lodging, Gaming and Leisure Equity Research & Analyst; Truist Securities, Inc., Research Division, Conor T. Cunningham; Research Analyst; Melius Research LLC, Daniel Brian Politzer; Senior Equity Analyst; Wells Fargo Securities, LLC, Research Division, Frederick Charles Wightman; Research Analyst; Wolfe Research, LLC, James Lloyd Hardiman; Director; Citigroup Inc., Research Division, Paul Alexander Golding; Analyst; Macquarie Research, Robin Margaret Farley; MD and Research Analyst; UBS Investment Bank, Research Division, Steven Moyer Wieczynski; MD of Equity Research and Gaming & Leisure Research Analyst; Stifel, Nicolaus & Company, Incorporated, Research Division. Mr. Farkas joined Norwegian in January 2004 and previously held the positions of Senior Vice President, Vice President and Assistant General Counsel. PLEASE, MEET THE WORK TEAM AND TELL THEM, THAT THEY HAVE TO WAIT WITH PATIENCE UNTIL THE GUEST DECIDE WHAT TO DRINK WELL, DUE TO THE VARIETY OF DRINKS, AND NOT TO THROW THE RUM FAST IN THE GLASS WITHOUT BEING SURE OF WHAT THE GUEST WANT. We have a great base of loyal guests who love our product because each of our brands have incredibly high repeat rates running anywhere from 45% for the Norwegian brand to as high as 55% for region. She successfully represented the Company to Wall Street since its initial public offering and earned numerous accolades including recognition as the #1 Overall Best Investor Relations Officer in the Leisure sector in the prestigious Institutional Investor All-American Executive Team rankings. Del Rio founded Oceania Cruises in 2002, and in doing so, created a new upper premium market space in the cruise industry. No change in the accounting or no change in the comparability. Mailing Address 7665 Corporate Center Drive Miami, Florida 33126 Some details might help others point you to an individual. So we're feeling pretty good right now. DeMarco earned an M.B.A. in Finance from Florida International University and a B.S. A twenty-year veteran of Norwegian, Kempa held several positions of increasing responsibility in Norwegians finance organization, playing an instrumental role in several of the Companys key milestones, including its successful initial public offering in 2013 and the acquisition of Prestige Cruises International, Inc. in 2014. free lookups / month. And finally, the results of our operating efficiency and cost minimization efforts as part of our broad and ongoing margin enhancement initiative that Frank touched on. There's -- it's not just adding cabins, it's lengthening the vessels, widening the vessels, but also more importantly, on 5 and 6, we are getting them -- those vessels to be methanol ready. And it was really just truing up some of our year-end accruals and making sure that going into the year, we were fully stock, so to speak, to ensure that we had no lagging issues affecting our 2023 performance. So any help there would be helpful. Lorem ipsum dolor sit amet consectetur adipisicing elit. Cruise Lines Modify Cancellation Policies For Better Flexibility; Cruise Lines Roll Out Virtual Content During Coronavirus Shutdown; 2020 Alaska Cruise Season Suffers as Cruise Lines Struggle With Deployment; Cruise Ships Redeploy following Alaska Cancellations; Cruise Industry Prepares New Health Framework For Future of Cruising $15.8 million. This stellar top line performance is reflective of our go-to-market strategy and emphasis on price discipline. So look, it's management's responsibility to optimize revenue and minimize costs. CC Help Jenn My name is John, and I will be your operator. Participants. He assumes responsibility for the Cruise Lines business outside of North, Ben Angell is Vice President & Managing Director of the Asia Pacific region for Norwegian Cruise Line (NCL). As we have consistently communicated, our costs will be elevated when compared to 2019 baseline, both due to normal and hyperinflation over the past 3 to 4 years as well as a mixed headwind as we add higher operating cost capacity, which we do expect will gain a premium on the top line. Was it the cost, the guest experience, something else? Andy or Vivian Ewart, the VP of Passenger Services, are both pretty responsive. For additional detail on the breakdown of upcoming debt payments, we also provide a detailed schedule on our Investor Relations website. Norwegian Cruise Line CEO Frank Del Rio said Monday he is confident the cruise line operator can safely set sail this summer for the first time in more than a year. So I will leave it there, but what I can tell you is that, that has not been in discussion in any of our Board meetings. & Conditions Package not available on sailings less Can you just review with us the rationale there? Turning to liquidity. Mr. Aron also serves on the boards of directors of a number of non-profit organizations. Mary E. Landry has developed a strong background in maritime operations over the course of her 35-year career with the government including service on the White House National Security Council as Special Assistant to the President and Senior Director for Resilience Policy from 2013 to 2014, and active duty in the U.S. Coast Guard. Our first question comes from the line of Dan Politzer with Wells Fargo. First quarter is expected to be the highest cost quarter due to lower occupancy and as actions taken in recent months to reduce costs will not yet be fully realized. Ms. Landry received a National Security Fellowship from Harvard University, a M.A. First, we completed an amendment of our operating credit facility and extended approximately $1.4 billion of this facility by 1 year to January 2025. We will continue to be opportunistic and are committed to delivering value for all stakeholders. That makes sense. And the final question comes from the line of Robin Farley with UBS. WebFrank Del Rio 's Email President and Chief Executive Officer Chief Executive Officer at Norwegian Cruise Line Contact Details Phone +1******50 Email fd*******@ncl.com Department Finance & Administration Location Miami, Florida, United States Frank is no longer with Norwegian Cruise Line Norwegian Cruise Line Company Information Our comments may also reference non-GAAP financial measures. WebNorwegian Cruise Line Holdings Ltd. employees List of Norwegian Cruise Line Holdings Ltd. employees Search and validate emails & phone numbers from 4305 Norwegian Cruise Line Holdings Ltd. employees Sign Up Norwegian Cruise Line Holdings Ltd. Management Norwegian Cruise Line Holdings Ltd. Employees The combined company operates three leading cruise brands: Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. Duis facilisis, justo porttitor elementum luctus, ipsum eros vulputate purus, id condimentum ipsum velit a arcu. Jason Krimmel was appointed as Vice President of International Sales, Marketing & Brand Communications in January 2023. Every aspect of our business is being evaluated through the lens of how we can realize our full value potential for all stakeholders. You talked for the fourth quarter, you talked about how revenues and net cruise cost ex fuel or in line with your expectations that EBITDA was a bit short. We work with a lot of different experts in the field to hold in on ethanol being the future for ships being built in the later part of the 2020s. Prior to joining Norwegian Cruise Line Holdings Ltd., Lindsay served in a similar capacity as Executive Vice President of Vessel Operations at Prestige Cruise Holdings, the parent company of Oceania Cruises and Regent Seven Seas Cruises. In fact, the booking window in the fourth quarter was well elongated compared to the same quarter in 2019. Curabitur sagittis condimentum varius. The next question comes from the line of Steve Wieczynski with Stifel. Prior to the Companys acquisition of Prestige Cruises International S. de R.L. in Management from Webster University and a B.A. Ms. Landry serves as a Director on the Boards of Directors of the United States Automobile Association (USAA) and the SCORE Association and is also a National Association of Corporate Directors Board Leadership Fellow and holds the CERT Certificate in Cybersecurity Oversight.