Pricing Is Up at Norwegian Cruise Line Holdings

Demand is strong, world cruises are selling out in a day, and pricing is up for Norwegian Cruise Line Holdings’ trio of cruise brands in Norwegian, Regent and Oceania.

“And while still early in the booking cycle, we are very encouraged and very pleased by the strong booking activity driven by pent up demand across all three brands for 2022 voyages. Volumes during January and February sequentially improved by over 40 percent from November and December 2020, and as an added bonus over 80 percent of these bookings where new cash bookings,” said Frank Del Rio, president and CEO, speaking on the company’s fourth quarter and year-ending earnings call.

Del Rio stressed that pricing continues to be in line with pre-pandemic levels.

“For the first half of 2022 and for all of 2022, in fact, our load factor is currently well ahead of pre-pandemic levels with pricing at each of our award-winning brands inline to up mid single digits, when excluding the dilutive impact of future cruise certificates,” he continued.

“Consumer appetite for global travel abode our 28 ships, but 28 vessels is so strong that even with limited marketing investments, we are yielding outside results and we are experiencing record demand with our launches for our future itinerary and global voyage collections,” he said.

Later in the call, Del Rio said that the ability to fill company ships at strong pricing was not among his concerns.

“And to be able to do what we’re doing in terms of the load factors and new bookings, new cash bookings with the (minimal) amount of marketing that we’re doing with the travel agency system being less than 100 percent is truly remarkable. And again, points to what we’ve been saying for years, the resiliency of the consumer, the resiliency of those who love to cruise. It’s a great value that hasn’t changed. And people are eager to get back to the high seas. There’s no question about that.”

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