Norwegian Cruise Line Holdings (NCLH) had a defining year in 2023 with leadership and strategy changes, in addition to deployment developments and the debut of three newbuilds.
Norwegian, Oceania and Regent Get Newbuilds
All of Norwegian Cruise Line Holdings’ brands got new ships in 2023.
The Oceania Vista debuted as the brand’s first newbuild in more than a decade.
The Norwegian Viva debuted in August and became the company’s second Prima-class vessel.
In November, Regent Seven Seas took delivery of the third vessel in the series of ships started with the Seven Seas Explorer in 2016. Built by the Fincantieri shipyard in Italy, the new Seven Seas Grandeur welcomed guests in Europe ahead of a maiden season in the Caribbean.
Leadership Changes
With long-time President and CEO Frank J. Del Rio retiring from its positions in late June, Norwegian Cruise Line Holdings saw significant leadership changes in 2023.
Harry J. Sommer was appointed as NCLH’s new President and CEO. Previously serving as President and Chief Executive Officer of Norwegian Cruise Line, Sommer was succeeded by David J. Herrera, who took over the position.
Comprehensive Strategic Review
With a new leadership and new perspectives across the organization, Norwegian Cruise Line Holdings embarked on a review of its entire business in 2023. According to the company’s new President and CEO, Harry Sommer, all aspects of NCLH’s strategy received a fresh new look.
The review was revealed during the third quarter earnings call, in which Norwegian Cruise Line Holdings told investors that it was “undergoing a comprehensive strategic review of all aspects of the business to define its vision for the future.”
Financial Results
During the third quarter, the company generated a total revenue of $2.5 billion, a record number, up 33% compared to the same period in 2019, and GAAP net income of $345.9 million.
Despite the impact of global events including the wildfires in Maui and the escalating conflict in Israel, NCLH expects a full year 2023 adjusted EBITDA of approximately $1.86 billion, with full year occupancy expected to average 102.6%.
Experiences at Sea
Norwegian Cruise Line Holdings rolled out a new division in 2023. Named Experiences at Sea, the operation combines Sixthman Festivals at Sea, a subsidiary of NCL, and the company’s Charters, Meetings and Incentives division.
The newly formed brand hosted 13 consecutive events over 66 nights just in the Spring of 2023, with themes ranging from wrestling to nurses, comedic internet influencers, the LGTBQIA+ community and music genres.
Deployment Highlights
Norwegian Cruise Line’s deployment moves included the return to Baltimore with two ships: the Norwegian Sky and the Norwegian Sun.
The brand also returned to Asia after three years with the Norwegian Jewel and the Norwegian Dawn offering a series of itineraries in different parts of the continent.
Other highlights include Norwegian Prima’s first full season out of Galveston and the new Norwegian Viva arriving in San Juan for a winter program in the Southern Caribbean.
