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Norwegian Cruise Occupancy Ramp Accelerates to Above 100%

Norwegian Prima

Norwegian Cruise Line Holdings had an average load factor of 101.5 percent in the first quarter, according to company executives speaking on the corporation’s first quarter earnings call.

“We reached load factors of 101.5 percent in the first quarter, exceeding our guidance and breaking triple-digit levels for the first time in three years with some voyages exceeding occupancy above 115 percent,” said Harry Sommer, incoming president and CEO of Norwegian Cruise Line Holdings.

“With this significant achievement, we have also nearly closed the occupancy gap versus 2019 levels,” he said.

For the second quarter, Sommer said he expects 105 percent occupancy on average cross the fleet.

“This average is slightly below 2019 levels as a result of our strategic shift to longer, more immersive itinerary at the Norwegian Cruise Line brand, naturally resulting in less thirds and fourths, which is what historically pushes passenger occupancy above the 100 percent mark, all while enhancing margin over time,” he explained.

Most Recent Occupancy Rates:

Q1 2022: 48%
Q2 2022: 65%
Q3 2022: 81%
Q4 2022: 87%

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