Sommer holds an MBA from Pace University and a BBA from Baruch College, both in New York City. Onboard revenue spend is trending well, but it will take time. 5 stocks we like better than Royal Caribbean Cruises. Thanks, hladygirl! I'll give it a try. Jim He is responsible for ensuring that the Norwegian brand excels in every way by employing new ways of doing business that improve guest satisfaction and team member engagement while continuing to produce industry-leading financial results. Prior to joining NCLH, she was the Senior Vice President, Tax, Insurance and Human Resources for Prestige Cruise Holdings which was acquired by NCLH in November, 2014. Under his leadership the company expanded its global footprint with the opening of several offices around the world and significantly strengthened its international presence. Mr. Farkas joined Norwegian in January 2004 and previously held the positions of Senior Vice President, Vice President and Assistant General Counsel. Each successive class of ships is a record-breaking architectural marvel that revolutionizes vacations with the latest technology. Frank A. Del Rio is an industry veteran, having started his career in the cruise industry in 2003. 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 Company will introduce Find contact details for 700 million professionals. She has a focus on driving operational excellence and is a proven people manager, identifying and developing talent at the senior level. 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%. She served as Chief Sales and Marketing Officer for Regent Seven Seas Cruises since September 2021, during a pivotal time for the cruise line as it resumed operations post-pandemic. As our 2023 guidance indicates, second half 2022 is not representative of a go-forward run rate. He also made frequent guest appearances and served as a media resource for organizations such as CNBC, Barrons and the Wall Street Journal. 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. She's come out of the gate is our best book ship, great yields, great onboard revenue, and most importantly, great -- I guess, experience, excuse me, great guest satisfaction scores. jimdee3636, October 13, 2019 in Norwegian Cruise Line. How do you think about leverage this year, next year? 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. My commentary today will focus on our fourth quarter 2022 financial results, 2023 guidance and the progress on our financial recovery. These ships have been lengthened in part to accommodate the future use of alternative fuels. So if marketing was the cost of maintaining our industry-leading yields and it was well worth it. Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is up 188%. DeMarco has 20 years of diverse cruise industry experience across multiple areas of the business. network looking for misconfigured or infected devices. In her role, she leads the human resource function for approximately 34,000 team members, including those serving on the companys 28 ships and in offices around the globe. Frank A. Del Rio is an industry veteran, having started his career in the cruise industry in 2003. He received a B.A. Certainly. 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. Just trying to figure out how you balance those 2 things? I'm just trying to figure out if you guys could help us think about what that impact is on that yield side? I think both past guests and new guests are absolutely critical for our continued growth. Nullam egestas urna eget mauris interdum, consectetur pretium turpis condimentum. in Marine Affairs from the University of Rhode Island, a M.A. But for now, I'll turn the call over to Mark for his commentary on our financial position and outlook. Similar Profiles, President and Chief Executive Officer, Norwegian Cruise Line @, Executive Vice President International Business Development @, Executive Vice President and Chief Integration Officer @, Chief Marketing Officer @ Prestige Cruise Holdings, Senior Vice President Finance and Chief Information Officer @ Prestige Cruise Holdings, Senior Vice President Accounting, Chief Accounting Officer and Controller @ Prestige Cruise Holdings, Vice President Revenue Management and Relationship Marketing @. Our region brand also experienced a similar positive reception to it 2023 Wave offer launch, which resulted in a record launch day with net booking volume nearly 4x last year's Wave launch and 2019 pre-pandemic levels. The basic NCL contacts (no FDR contact) LINK: https://www.elliott.org/company-contacts/norwegian-cruise-line-ncl/. 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). Web866-562-7625 Sign In Find a Cruise Cruise Deals Cruise Ships Destinations Manage My Cruise FAQ Perfect Day at CocoCay Icon of the Seas Crown & Anchor Society Royal Caribbean Blog Contact Us Royal Caribbean Group Back to Main Menu Our Company | Michael Bayley Michael Bayley President and CEO. She is also a former Non-Executive Director of THG Holdings plc. Keep in mind that costs are expected to sequentially trend lower over the course of the year as occupancy increases and reduction initiatives are realized, which is expected to lead to a lower cost run rate as we exit 2023 as compared to our full year guidance. After the COVID-19 pandemic brought widespread disruption to the travel industry, Norwegian Cruise Line Holdings Ltd. says its affluent target customers are opening their wallets for travel now and in the future. And our next question comes from the line of Paul Golding with Macquarie. Search over 700 Frank will begin the call with opening commentary, after which, Mark will follow to discuss our financials before handing the call back to Frank for closing remarks. Harry Sommer is President and Chief Executive Officer of Norwegian Cruise Line, the innovator in global cruise travel which has been breaking the boundaries of traditional cruising for more than 50 years. Thank you, Mark. The bottom line is any emails directed to the corporate office (no matter who) all get directed to the same place (customer relations). in Management from Webster University and a B.A. 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. Listen, we were really excited about the performance of Prima. Laborum, officia? Del Rio has a B.S./B.A. Frank? I know that you guys were excited about offering a smaller ship size initially when that was introduced. We will also make reference to a slide presentation during this call, which may also be found on our Investor Relations website. THANK YOU FOR MAKING A MEETING AND TELLING THEM ABOUT IT. it is not infected with malware. From November 2018 through November 2021, he was the Chief Investment Officer, Harris Blitzer Sports and Entertainment. Completing the requested steps helps confirm that everything is ok. Lorem ipsum dolor sit amet, consectetur adipiscing elit. This gives us confidence that not only is the incredible value proposition for cruising resonating with consumers, but the unique and compelling offerings of our 3 brands are also appealing to their respective markets. Sounds like those are going to be a little bit bigger than the first few iterations. We do not currently intend to draw on this commitment. Okay. We will then open the call for your questions. We've said time and time and again, we do not believe that it is prudent to issue more equity to delever the company. Stella David was previously the Chief Executive Officer of William Grant & Sons Limited, an international spirits company, from August 2009 until March 2016. Participants. 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. President and Chief Executive Officer Norwegian Cruise Line. This is especially true for the all-import North American consumer from we enjoy an outsized benefit, given our strategic sourcing mix and focus on global versus national brands. Lindsay earned his B.S. Taking all of this into account, adjusted EBITDA for the first quarter is expected to be approximately $195 million and adjusted EPS is expected to be a loss of approximately $0.45. 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 Del Rio founded Oceania Cruises in 2002, and in doing so, created a new upper premium market space in the cruise industry. In other words, from just a Baltics and Eastern Med disruption last year, how the timing of these more exotic higher-yielding destinations line up to fill that gap on a year-over-year basis? 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. I would now like to turn the conference over to your host, Jessica John, Vice President of Investor Relations, ESG and Corporate Communications. Was the consumer feedback in line with sort of what you were hoping for when you earmark that spend or not? The cruise operator reported a wider-than-expected fourth-quarter loss before market open Tuesday, although revenue was He is also Chairman and CEO of World Leisure Partners, Inc., a personal consultancy for matters related to travel and tourism and high-end real estate development and which acts in partnership with Apollo Management L.P. 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. 5 free lookups per month. A reconciliation to the most directly comparable GAAP financial measure and other associated disclosures are contained in our earnings release and presentation. Previously, Del Rio served as chairman and chief executive officer of Prestige Cruise Holdings, Inc., the parent company operating both Oceania Cruises and Regent Seven Seas Cruises. And I think when you look at our yield growth for the full year, you were spot on 9% to 10.5% pretty strong number given the value proposition of where the cruise industry vis-a-vis the broader vacation market. I was contacted directly by the hotel manager within the hour and two hours later theChief Operating Officer for north Europe contacted me saying the director had passed my complain to him and he wanted to ensure the hotel manager had resolved my complain. Our press release with fourth quarter and full year 2022 results was issued this morning and is available on our Investor Relations website. Thank you, and have a great day. But when you look at Q1, you go from Q4 to Q1, it's really a mix impact of where our fleet is operating. We will continue to leave no stone on turn as we identify and evaluate incremental opportunities. Royal Caribbean Group (NYSE: RCL) stock is up 294%. 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. These announcements create excitement, not just among loyal guests, but also to new brand and even new to cruise guests. So nothing has changed. In this position, Mr. Farkas oversees all aspects of the Legal, Risk Management, Corporate Governance and Compliance, Passenger and Crew Claims and the Government Affairs areas of Norwegian Cruise Line. Its standard for any complaint. We want to make sure we're hitting putting out reasonable targets, but nothing should be implied from that. Since 1988, Mr. Aron previously served on the board of directors of more than a dozen companies including Starwood Hotels and Resorts Worldwide, Inc. and on the board of directors of Prestige Cruise Holdings, Inc., the parent company of Oceania Cruises and Regent Seven Seas Cruises. Andrea DeMarco is the President of Regent Seven Seas Cruises, the worlds leading luxury cruise line. 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. SEVERAL GUESTS WERE TALKING SITTED IN THE ATRIUM AND SAYING THAT THIS IS A GREAT RECOMMENDATION, SO WE DO NOT GET BORED FOR MORE THAN AN HOUR WITH NO MUSIC, FOR THE ONES WHO DONT LIKE MOVIES, BINGOS AND THE GAMES, AND CANNOT BE IN THE POOL AREA (DUE TO THE WIND), BECAUSE OTHERS DO PREFER TO BE DANCING INSIDE AND WANT TO BE ENTERTAINED TOO AS THE ONES ON DECK 15. For the second half of 2022, adjusted EBITDA was nearly breakeven. We're sorry. Every aspect of our business is being evaluated through the lens of how we can realize our full value potential for all stakeholders. The weekly OBV line is down from its November high. We've covered quite a bit today, so I'll conclude our commentary here and open up the call for your questions. degree from Louisiana Tech University. You may ask why start this initiative now? Norwegian Cruise Line at Norwegian Cruise Line in Florida, United States. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. WebMr. Integer convallis velit sit amet arcu aliquam luctus. One News Page. 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. Our current cumulative book position and the strong demand dynamics that we continue to experience across our brands gives us further confidence that we can achieve our 2023 guidance, which Mark will discuss shortly in more detail. Having been active in the urban mixed-use real estate sector for over 35 years, Mr. Galbut and Crescent Heights are a best in class developer with a successful track record of new constructions and renovations. million verified professionals across 35 million companies. (business & personal). Site. We think we got it. So maybe just walk us through sort of the undulations of that per diem number. We issued $600 million of new 8.375% senior secured notes due 2028 and use the proceeds to repay these term loans, allowing us to derisk and replace near-term debt maturities with longer-dated debt at only a marginally higher cost. From 1996 through 2004, he was a founding member and Co-Head of the Global Distressed Sales and Trading Group at Credit Suisse (and its predecessor Donaldson, Lufkin & Jenrette, Inc.). Thanks for the clarification, SeaShark. I see that Any Stuart will still be CEO until the end of the year, so I'll amend my request: if anyone has It sounded like last summer or last fall, that would not have been the intention at that time, but that's changed. Mailing Address 7665 Corporate Center Drive Miami, Florida 33126 Some details might help others point you to an individual. With a combined fleet of 28 ships with approximately 60,000 berths, these brands offer itineraries to nearly 500 destinations worldwide. The next question comes from the line of Fred Wightman with Wolfe Research. And I would assume that some portion of that has to -- does that hit your -- half of it hits your yields and then the other half hit cost? Yes, Patrick, I think we'll take some of those details offline on our post call. Look, this is going to take time, right? Can you just explain again why you dipped into the Apollo financing? You will get a welcome aboard kit on your next NCL cruise. On a capacity day basis, this will result in approximately 19% growth in 2023 compared to 2019. 2024 bookings are running ahead at higher prices than they were at the same time in 2019 for 2020, which before the pandemic. 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. This includes a broad and ongoing initiative we began in the fourth quarter to improve operating efficiencies and to rightsize our cost base so that we can rebuild and enhance our margins. Accept cookies to experience the full functionality of this page. Areas of focus include business partnerships, benefits, compensation and talent management/succession planning. Securing this facility provides a backstop for the remaining portion of the non-extending operating credit facility, which matures in January 2024. Subsequently, in January, a strong start to traditional wave led the line of setting another record booking month. Guests requiring special accommodations must fill out the Guest Special Needs Request Form.
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