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Hurtigruten Reports Record Bookings and Yield

Roald Amundsen

The Hurtigruten Group has reported that the company is experiencing record new bookings for future sailings for all three of its brands, Hurtigruten Expeditions, Hurtigruten Norway and Hurtigruten Svalbard.

CEO Daniel Skjelmdam said in a prepared statement that Germany, the UK and the U.S. were particularly strong, and that for the past 14 days bookings were 136 percent higher than for the same period last year.

Bookings taken during the first two weeks of 2023 brought in 32 million euros, which is said to be an all time high for the group. For the full year of 2023, Hurtigruten reported 346 million euros of pre-booked revenue, which is 47 percent of the total expected ticket revenue for the year.

As of Jan. 14, the average yield for booked 2023 sailings was 503 euros per passenger night, which is 31 percent higher than advance bookings were for 2020 three years ago, the company stated.

To take advantage of the strong demand, Hurtigruten said that shareholders have agreed to provide a 15 million euros loan to finance marketing expenses and working capital.

According to Norwegian press reports, Hurtigruten also borrow 20 million euros from its shareholders last fall to finance environmental upgrades of its ships.

Hurtigruten is owned by British TDR Capital and Norwegian Petter Stordalen Strawberry Equities and Trygve Hegnars Perioscopus.

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