Sommer: New NCLH Leadership Brings ‘Fresh Perspective and Energy’

Posted on 3 August, 2023 by Spacejunkie2

“With new leadership not only in my seat but in all three of our award-winning brands and most recently for our vessel operation function, there is a possible feeling of reinvigoration and excitement about the future across the entire company,” said Harry Sommer, president and CEO of Norwegian Cruise Line Holdings (NCLH), speaking on the company’s second-quarter earnings call.

Sommer took over as president and CEO of the company earlier this year, following Frank Del Rio ’s retirement.

“We are approaching every decision with fresh perspective and new energy, challenging the status quo at every level and encouraging our entire team to think outside of the box and come to the table with new ideas, however big or small,” Sommer said, noting his focus is on the future and how to refine and enhance our strategy to optimize the company’s existing fleet of high-quality assets, further differentiate the business model, build resiliency, advance efforts to drive a positive impact on society in the environment and ultimately drive more value.

“Our executive team has an average of over 20 years in the cruise industry and nearly all have been with NCLH for a decade plus,” he continued.

“I have the unlost confidence that this team is the right one to take the company to even greater heights.”

Norwegian Cruise Occupancy Ramp Accelerates to Above 100%

Posted on 2 May, 2023 by Spacejunkie2

Norwegian Cruise Line Holdings had an average load factor of 101.5 per cent in the first quarter, according to company executives speaking on the corporation’s first quarter earnings call.

“We reached load factors of 101.5 per cent in the first quarter, exceeding our guidance and breaking triple-digit levels for the first time in three years with some voyages exceeding occupancy above 115 per cent,” said Harry Sommer, incoming president and CEO of Norwegian Cruise Line Holdings.

“With this significant achievement, we have also nearly closed the occupancy gap versus 2019 levels,” he said.

For the second quarter, Sommer said he expects 105 per cent occupancy on average across the fleet.

“This average is slightly below 2019 levels as a result of our strategic shift to longer, more immersive itinerary at the Norwegian Cruise Line brand, naturally resulting in fewer thirds and fourths, which is what historically pushes passenger occupancy above the 100 per cent mark, all while enhancing margin over time,” he explained.

Most Recent Occupancy Rates:

Q1 2022: 48%
Q2 2022: 65%
Q3 2022: 81%
Q4 2022: 87%

NCLH Records Record-Breaking Wave Season

Posted on 1 March, 2023 by Spacejunkie2

Norwegian Cruise Line Holdings (NCLH) has entered 2023 with a record-booked position at a higher price, with each of its three brands experiencing “record-breaking” wave periods.

The Norwegian Cruise Line (NCL), Oceania Cruise and Regent Seven Seas Cruises parent has seen “very strong” demand so far in 2023, according to a recent trading update covering the fourth quarter and full year to 31 December 2022.

The company entered the year with a cumulative booked position of approximately 62% for 2023, in line with previously outlined expectations and within the firm’s optimal 60% to 65% range, and at higher prices than 2019 at a similar point in time.

Booking volumes have accelerated in recent months buoyed by strong wave season demand, NCLH said, with its brands achieving several booking records in recent months.

As a result, the full-year 2023 cumulative booked position is ahead of 2019 levels inclusive of the company’s 19% increase in capacity.

NCLH expects this positive momentum to continue throughout the year, with occupancy expected to average 100% for the first quarter and is on track to reach “historical levels” for the second quarter.

As of 31 December 2022, the company’s advance ticket sales balance, including the long-term portion, was $2.7 billion, approximately 9% higher than the prior quarter and approximately 30% greater than at year-end 2019.