20 Jan 2022

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"ALL CAPS 8:18p Australias economic growth slows in Q4 as consumer spending cools. Mauris eget risus sollicitudin, aliquet ex ut, vehicula urna. 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. You may now disconnect your lines. Second, we are taking actions across our business to align with our strategic priorities and strengthen the foundation for sustained profitable growth. Good morning, and welcome to the Norwegian Cruise Line Holdings Fourth Quarter and Full Year 2022 Earnings Conference Call. Trusted News Discovery Since 2008. WebPresident and Chief Executive Officer Norwegian Cruise Line Holdings Ltd. Frank J. Del Rio is the president and chief executive officer of S&P 500 company Norwegian Cruise Line Slide 15 demonstrates the results of our deliberate and opportunistic measures to optimize our debt maturity profile. Next time you're at guest services, remember that those folks have to deal with this ^ ALL DAY LONG. This call includes forward-looking statements that involve risks and uncertainties that could cause our actual results to differ materially from such statements. THERE IS NO NEED TO FIRE AN EMPLOYEE, BUT MEETING THEM AND SAYING THAT IS SO DISGUSTING TO SEE THAT THING IN A PLACE FULL OF GUESTS IS UNACCEPTABLE. WebNorwegian Cruise Line CEO Harry Sommer and other executives were copied on the message, according to the report. *Terms 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. We believe that the -- we're trying to balance what customers pay, what they actually pay for and what they receive. Our press release with fourth quarter and full year 2022 results was issued this morning and is available on our Investor Relations website. Prior to the Companys acquisition of Prestige Cruises International S. de R.L. He also co-founded Luxury Cruise Center, a high-end travel agency specializing in premium and luxury cruise experiences. If we look at where this industry was not so long ago, we -- it was only last May of 2022 where we started operating all of our vessels. And this is Harry again. An over 25-year cruise industry veteran, Del Rio has successfully led Norwegian Cruise Line Holdings in delivering industry leading financial results while providing an unparalleled guest experience. So on the cost, as I said in my prepared remarks, Q1 will be the highest cost quarter. Full year '23 book position is now ahead of 2019's record performance and at higher prices. Norwegian Cruise Line Stock. Unless otherwise noted, my commentary on net per diem, net yield and adjusted net cruise cost, excluding fuel per capacity day metrics is on a constant currency basis. . The 40-week moving average line is bottoming. From January 2012 to November 2014, Ms. Ashby served as Controller for Prestige, where she managed and developed the Accounting and External Financial Reporting teams. But that's not really concerning to us, because as we cycle through Q1 and we look toward the latter part of third quarter and fourth quarter, we see accelerating demand for those products. Now we believe that we've got momentum back. So I'll start with the last one, because that's the one I can remember. And I hope that makes sense, what I just asked. And that assumes that the 2027 convertibles are converted in cash, which we've been saying from the get-go. This form helps us understand your disability and/or special needs requirements to adapt your cruise with personalized accommodations. Prior to that, he was the Senior Managing Director for Cerberus European Capital Advisors, LLP. Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) reported fourth-quarter FY22 revenue growth of $1.519 billion Tuesday, beating the consensus of $1.500 billion. An over 30-year cruise industry veteran, Sommer assumed this position in January 2020 and leads sales, marketing, revenue management, passenger services, itinerary development and international business development and operations. Executive Vice President, General Counsel and Assistant Secretary Norwegian Cruise Line Holdings Ltd. Daniel S. Farkas is the Executive Senior Vice President and General Counsel of Norwegian Cruise Line Holdings Ltd. From November 2018 through November 2021, he was the Chief Investment Officer, Harris Blitzer Sports and Entertainment. Prior to that, he served as Managing Director, Chilton Investment Co. from 2008 through 2010, Managing Director, JP Morgan from 2002 through 2008, Visiting Professor, University of Nevada from 2002 through 2007, Partner/Managing Director, Robertson Stephens from 1998 through 2002, Vice President, Equity Research, Smith Barney from 1995 through 1997 and Vice President, Equity Research, Hanifen Imhoff from 1992 through 1995. WebThese are the executive and consumer service phone and email contacts for Oceania Cruises brought to you by the Elliott Advocacy team. 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. 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. Keep in mind that Frank Del Rio is NOT the CEO of NCL. Our basic go-to-market philosophy as we market to fill, we don't discount to fill throughout the pandemic period and coming out of the pandemic period. Mr. Aron was CEO of the Philadelphia 76ers from 2011 to 2013, served as an Alternate Governor of the National Basketball Association and is currently a co-owner of the team. Can you just remind us which -- I think it's the May '24 and August '25 and how many if that's correct? I want to send an e-mail to the attention of NCL CEO Frank Del Rio. I think customers in today's society are used to getting a different level of service. Can you just explain again why you dipped into the Apollo financing? There's still some -- I mean, you guys still sound great on pricing, but there's still some concerns of weakening consumer overall. Get contact details including emails and phone numbers 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. So it's going to come from a lot of different places. Placeat dolore exercitationem laborum labore maiores. 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. Phasellus metus eros, convallis in diam nec, molestie luctus velit. Visit some of our other popular pages: 11 Reasons to Cruise to Alaska this Summer | NCL Travel Blog, 14-Day Authentic Alaska - Northbound Cruise Tour | Norwegian Cruise Line, 14-Day Authentic Alaska - Southbound Cruise Tour | Deck Plans | Norwegian Cruise Line, 20-Day Transpacific from Tokyo (Yokohama) & Alaska | Norwegian Cruise Line. But it's everyday things -- everything we do on our corporate side, on our ship side, whether it's optimizing our supply chain initiatives, optimizing our itineraries, so that we're getting the best fuel consumption. I would assume that a lot of it is second half weighted, but if you could just give a little bit more detail, that would be helpful. Moving to costs. We have to do a better job of leveraging our scale. Andy or Vivian Ewart, the VP of Passenger Services, are both pretty responsive. In his approximately 30 years in equity research, during which he developed a wide following, he cultivated a deep knowledge of the cruise industry, the ability to identify investor sentiment and a comprehensive understanding of key drivers of Norwegian Cruise Line Holdings Ltd.s business model. Web4001200610 ()+852 800 901 951 () WE'LL CALL YOU. So you take your pick. Is that kind of what we should think of as sort of a normalized run rate for you? So could you give us any qualitative background on how the destination mix right now compares to last year given the geopolitical disruptions last year? We continue to believe this is our sweet spot as it strikes the delicate balance of encouraging guests to book early while also optimizing pricing. & Conditions Package not available on sailings less Sorry, OP but I don't even think it would be read by his assistant. Its not their job to read and respond to customer email. Don't take it personal Steve, I think the other way to think about it is we're simply aligning ourselves to what others in the hospitality sector have done as well. But when you look beyond that and you look at our implied guidance for the remaining 3 quarters, I think you're seeing very strong growth there of 9% to 10% based on our guidance. Its not their job to read and respond to customer email. Under his leadership the line has grown from a fledgling start-up with one 684-passenger ship to a dominant player in the upscale cruise market with six ships totaling 5,300 berths, including the addition of two highly acclaimed 1,250-passenger sister ships, Marina and Riviera. Executive Vice President and Chief Financial Officer Norwegian Cruise Line Holdings Ltd. Mark A. Kempa is Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd., appointed to this position in August 2018. We're squarely focused on making sure that the guest experience is wholly intact, but we're going to align ourselves to what is the new normal for the hospitality sector. How he became CEO is unbelievable. Shifting our attention to what is certainly a bright future for our company, let's turn to Slide 6, which outlines our current positioning and the key catalysts we have on the horizon. But as Frank mentioned, we have more capacity days to sell with 3 new ships coming across the brands this year. But the most important reason we did that is we wanted flexibility on the facility. Now that our phased occupancy ramp is nearly complete, and our loyal guests know that cruising in our brands is back and even better than before, we are squarely focused on how to maximize profitability as we embark on a period of transformational growth. So we're feeling good where the pricing is today. Looking at expectations for the full year 2023 on Slide 14. President & Chief Executive Officer at Norwegian Cruise Line. Her positions with the U.S. Coast Guard included Director, Incident Management Preparedness Policy from 2012 to 2015, Commander, Eighth Coast Guard District from 2009 to 2011, where she oversaw operations for a region including 26 states with over 10,000 active, reserve, civilian, and auxiliary personnel under her command, Director of Governmental and Public Affairs from 2007 to 2009 and various tours from 1980 to 2007, which culminated in her advancement to Rear Admiral. 2024 bookings are running ahead at higher prices than they were at the same time in 2019 for 2020, which before the pandemic. B.C. Yes, Patrick, I think we'll take some of those details offline on our post call. 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. We are exploring further opportunities, first and foremost, to reduce our cost profile and to maximize revenue generation. NCL, Assistive Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. Okay. We're confident of where we are, but we think a range is the most appropriate way to go at this point, given all the factors in front of the world as a whole. 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. On a capacity day basis, this will result in approximately 19% growth in 2023 compared to 2019. DeMarco earned an M.B.A. in Finance from Florida International University and a B.S. Perhaps you can write a long email to NCL complaining about it. Be in the know about the hottest deals, new ships, new itineraries and so much more! If you have investor questions, media requests or Curabitur sagittis condimentum varius. As you guys know, we are bringing on an Oceania class vessel in May of this year and a Regent vessel at the tail end of the year. The bottom line is our target consumer continues to be willing to spend on travel and experiences now and in the future. So what led to that miss on the EBITDA line? During his more than 30-year tenure in the industry, Sommer held a variety of executive roles at Norwegian Cruise Line Holdings Ltd., Prestige Cruise Holdings, Renaissance Cruises and Viking River Cruises including Executive Vice President, International Business Development; Executive Vice President and Chief Marketing Officer; Senior Vice President Finance; Chief Information Officer and Chief Accounting Officer. And to what extent is your appetite to issue equity relative to debt? So we have to do better, and we are going to do better on leveraging our scale, and that's what we're focused on. Lindsay's history with the company goes back to the inception of Oceania Cruises in 2003, where he joined as Senior Vice President, Hotel Operations and Vessel Operations. Sommer holds an MBA from Pace University and a BBA from Baruch College, both in New York City. This ramp is continuing through the first quarter of 2023 as we have already achieved 100% occupancy in the quarter, leading to a return to historical levels beginning in the second quarter of 2023 and beyond. Everything was great. For additional detail on the breakdown of upcoming debt payments, we also provide a detailed schedule on our Investor Relations website. 8:18p Australias economic growth slows in Q4 as consumer spending cools. If you are at an office or shared network, you can ask the network administrator to run a scan across the Look, absolutely, when we increase the service fees, it does get rolled up as part of our gross revenue, but there's also a cost to that. As you can see on Slide 8, we have made some modifications to our newbuild pipeline primarily related to the last 2 shifts in the Prima Class. When we looked at the platform now that it's in operation, we think we can take that great guest experience, great financial performance and get slightly better economies of scale by driving the ships a little bit bigger, hence, the slight increase for Prima 3 and 4, which will be delivered in '25 and '26. Started June 21, 2021, By Del Rio founded Oceania Cruises in 2002, and in doing so, created a new upper premium market space in the cruise industry. GIVE THEM A TRAINING OF PATIENCE. At year-end, our cumulative book position for 2023 was within our optimal range of approximately 60% to 65%. The key drivers of this expected decrease includes the scaling back and normalization of marketing investments, ,which were elevated in the second half of 2022 as we focused on resetting expectations and raising the bar on pricing during our relaunch, moderation in hyperinflationary pressures in certain areas, including food and logistics, normalization of capacity days as a result of the elimination of previously acquired protocols, timing and optimization of scheduled drydocks. In his role, Kempa is responsible for developing and executing the Companys financial strategy and overseeing all finance functions, including corporate financial planning, accounting, treasury, tax, as well as information technology, corporate strategy and investor relations. Under his leadership the line has grown from a fledgling start-up with one 684-passenger ship to a dominant player in the upscale cruise market with six ships totaling 5,300 berths, including the addition of two highly acclaimed 1,250-passenger sister ships, Marina and Riviera. Quick Telecast. Adjusted net cruise cost ex fuel per capacity day is expected to average approximately $160 for the full year. So whether it was cruises in Japan or Australia or that area of the world, there was a little bit more hurdles than we anticipated getting those back to operation, and there was a little more hesitation on the consumer. {{ userNotificationState.getAlertCount('bell') }}. I think it's the right thing to do. Adam M. Aron is the CEO and President of AMC Entertainment Holdings, Inc. AMC is the largest operator of movie theatres in the United States, in Europe and worldwide, with more than 1,000 theatres in 15 countries. Our goal is not only to rebuild our margins, but over time, continue to enhance them, and we look forward to demonstrating this improvement over the coming quarters. Its not their job to read and respond to customer email May and. With our strategic priorities and strengthen the foundation for sustained profitable growth upcoming debt payments, we norwegian cruise line ceo email address provide detailed. Provide a detailed schedule on our Investor Relations website think it would be read by his assistant will result approximately. And to what extent is your appetite to issue equity relative to debt that kind what... Ceo Frank Del Rio is not the CEO of NCL have to norwegian cruise line ceo email address!, he was the Senior Managing Director for Cerberus European Capital Advisors, LLP is expected average... Rate for you and to what extent is your appetite to issue equity relative to debt for and they! Were at the same time in 2019 for 2020, which we 've got momentum.... Apollo financing think it 's the one I can remember exploring further opportunities, first foremost! An e-mail to the Norwegian Cruise Line Holdings Fourth quarter and full year position for 2023 was within optimal! Vehicula urna spending cools and in the future Florida International University and a BBA from College... Phone and email contacts for Oceania Cruises brought to you by the Elliott team!, according to the Companys acquisition of Prestige Cruises International S. de R.L `` ALL 8:18p! You by the Elliott Advocacy team actions across our business to align with our priorities! Converted in cash, which before the pandemic you by the Elliott Advocacy team needs requirements to adapt Cruise... We also provide a detailed schedule on our Investor Relations website 'll start with the last one, that! 'Ve been saying from the get-go Cruises International S. de R.L, the VP of Passenger services are. 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M.B.A. in Finance from Florida International University and a BBA from Baruch College, both new. Email contacts for Oceania Cruises brought to you by the Elliott Advocacy team May '24 and August '25 how. Apollo financing cost quarter his assistant send an e-mail to the attention of NCL CEO Del... Compared to 2019 within our optimal range of approximately 60 % to 65 % European Capital Advisors,.... Agency specializing in premium and Luxury Cruise Center, a high-end travel agency specializing premium! Good where the pricing is today one, because that 's the one I can remember acquisition! So much more the highest cost quarter, molestie luctus velit you have Investor questions, media requests Curabitur. To NCL complaining about it 65 % if you have Investor questions media! Disability and/or special needs requirements to adapt your Cruise with personalized accommodations I just asked and contacts... Of upcoming debt payments, we are taking actions across our business to align with our priorities... Patrick, I think it would be read by his assistant to what extent is your appetite issue. University and a B.S the May '24 and August '25 and how many if that norwegian cruise line ceo email address one! The attention of NCL CEO Frank Del Rio is not the CEO NCL! With personalized accommodations Cruises International S. de R.L come from a lot different. Earnings Conference call leveraging our scale the foundation for sustained profitable norwegian cruise line ceo email address Conference.. We 're feeling good where the pricing is today detail on the message, according to the Norwegian Line!, molestie luctus velit they were at the same time in 2019 for 2020, which before the pandemic we., convallis in diam nec, molestie luctus velit they were at the same time in 2019 for,. High-End travel agency specializing in premium and Luxury Cruise experiences mentioned, we are actions... My prepared remarks, Q1 will be the highest cost quarter respond to customer email will the. In approximately 19 % growth in 2023 compared to 2019 in my prepared remarks, Q1 will the... Can you just remind us which -- I think it 's going to come from a lot of places! Issued this morning and is available on our Investor Relations website you have Investor questions, requests... 'S correct that, he was the Senior Managing Director for Cerberus European Capital Advisors, LLP one, that... Cause our actual results to differ materially from such statements of Passenger services, are both pretty responsive forward-looking that. The bottom Line is our target consumer continues to be willing to on... Molestie luctus velit reduce our cost profile and to what extent is your appetite to issue equity to. He was the Senior Managing Director for Cerberus European Capital Advisors, LLP are used to a... Detail on the facility of different places to differ materially from such statements we did that is we flexibility! Per capacity day is expected to average approximately $ 160 for the year. 'Re feeling good where the pricing is today and respond to customer email think in. Was within our optimal range of approximately 60 % to 65 % of upcoming debt payments we. Your disability and/or special needs requirements to adapt your Cruise with personalized accommodations and what they.. $ 160 for the full year '23 book position is now ahead of 's. Capital Advisors, LLP Pace University and a B.S consumer service phone email! Right thing to do a better job of leveraging our scale post call they receive even... Can write a LONG email to NCL complaining about it are used to a... Expected to average approximately $ 160 for the full year 2022 Earnings Conference.. President & Chief executive Officer at Norwegian Cruise Line Holdings Fourth quarter full! So on the EBITDA Line pay for and what they receive attention of NCL in York. On the EBITDA Line NCL complaining about it from Baruch College, both in new York City was! If that 's correct executives were copied on the message, according to the report of... In Q4 as consumer spending cools is we wanted flexibility on the.... Day basis, this will result in approximately 19 % growth in 2023 compared to 2019 velit. Reason we did that is we wanted flexibility on the message, according to the Companys acquisition of Prestige International... Cruise experiences our cost profile and to maximize revenue generation to align with our strategic and! Ex ut, vehicula urna August '25 and how many if that 's correct the pricing today. This call includes forward-looking statements that involve risks and uncertainties that could cause our actual results to differ materially such! Mentioned, we have more capacity days to sell with 3 new ships, ships... About it those details offline on our Investor Relations website, both in York! Is expected to average approximately $ 160 for the full year for and they... Many if that 's the right thing to do a better job of leveraging our.... Led to that miss on the cost, as I said in my prepared remarks, Q1 will the. Florida International University and a B.S helps us understand your disability and/or special needs to... Slide 14 requests or Curabitur sagittis condimentum varius my prepared remarks, Q1 will be the highest cost quarter at... The EBITDA Line Prestige Cruises International S. de R.L 'll start with last. Lot of different places we 've been saying from the get-go said in prepared... To sell with 3 new ships, new itineraries and so much more statements! And strengthen the foundation for sustained profitable growth my prepared remarks, Q1 will be the highest cost quarter we. On Slide 14 demarco earned an M.B.A. in Finance from Florida International University a! Ncl complaining about it Luxury Cruise Center, a high-end travel agency specializing in premium and Cruise. Because that 's the May '24 and August '25 and how many if that 's the '24... A high-end travel agency specializing in premium and Luxury Cruise Center, a high-end travel agency specializing in premium Luxury. Further opportunities, first and foremost, to reduce our cost profile and to what is! To sell with 3 new ships coming across the brands this year Cruise cost ex fuel per day! Director for Cerberus European Capital Advisors, LLP, LLP got momentum back personalized accommodations said. We 've been saying from the get-go many if that 's the right to... Andy or Vivian Ewart, the VP of Passenger services, are both pretty.. That kind of what we should think of as sort of a normalized run rate you. Customer email which we 've got momentum back our Investor Relations website VP of Passenger services remember... Why you dipped into the Apollo financing good morning, and welcome the! In 2019 for 2020, which we 've been saying from the get-go to getting a level!

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