Tag Archives: onboard spend

Norwegian Cruise Line: Prices Higher Going Into 2023

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Norwegian Cruise Line Holdings has provided a business update ahead of its 2022 Q4 and year-end financial earnings release.

As of December 31, 2022, the company said its booked position was approximately 62 per cent for the full year 2023, in line with previously outlined expectations, and at higher prices than 2019 at a similar time.

Fourth quarter Occupancy was approximately 87 per cent, with the gap versus 2019 levels continuing to narrow sequentially.

‘We are also experiencing strong and broad-based onboard revenue generation even as occupancy increases,” the company said, noting it expects to report a net loss for the quarter and full year ended December 31, 2022, and the first quarter of 2023.

Onboard Revenue Up for Royal Caribbean Group

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Onboard revenue is considerably up across the Royal Caribbean Group ships back in service, with guests ready to spend.

“We are also seeing pent-up demand for our onboard revenue experiences,” said Jason Liberty, CFO and executive vice president, on the company’s second-quarter earnings call.

“Guests are really enjoying our shore excursions, casinos, spas and restaurants after spending a year in isolation,” he said.

“We are also seeing an increased demand for our WiFi services as more and more consumers have the flexibility to take vacations and work remotely.”

Michael Bayley, president and CEO of the Royal Caribbean International brand, added he was incredible encourage by the spend onboard the ships that are back into operation.

“In fact, the numbers have been very impressive,” Bayley added.

Norwegian Cruise Line’s profit up 33% in Q3

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Norwegian Cruise Line’s profit up 33% in Q3

By Tom Stieghorst
Norwegian Cruise Line Holdings said it earned $170.9 million in the third quarter, up from $128.4 million a year earlier.

Revenue grew 18% to $797.8 million, up from $674.4 million.

“Improved ticket pricing and onboard spend, along with better-than-expected results from business-improvement initiatives drove incremental earnings in the quarter,” CEO Kevin Sheehan said in a prepared statement.

Norwegian forecast that it will earn between $276 million and $286 million for the year.

The company has scheduled a conference call to discuss the results at 10 a.m. Oct. 29.