While Norwegian Cruise Line Holdings works through a turnaround at its Norwegian Cruise Line brand, the company’s two luxury brands, Regent Seven Seas Cruises and Oceania Cruises, are holding firm, with management pointing to their steady performance as evidence that the wider cruise industry remains on solid footing.

Speaking on the company’s first quarter 2026 earnings call earlier this week, Chairperson and CEO John Chidsey said Regent and Oceania were operating where they should be.

“When you look at the luxury brands, I’d say they’re in pretty good shape, just like they have been this year,” Chidsey said. “I think that’s another proof point that the industry is fine and the industry is growing.”

Chidsey returned to the luxury brands repeatedly throughout the call, using their stability to underscore his argument that NCLH’s broader challenges are self-inflicted and brand-specific..

“On the luxury brands, I think they’re right, where they should be from an expectation standpoint in 2027. Again, it’s all about Norwegian,” Chidsey underscored.

“The last three or four weeks, we have seen, I would call it even slightly better than stabilization,” he said. “We’ve seen some encouraging signs over the last three to four weeks for Regent and for Oceania.”

Chidsey also said that cost optimization efforts will extend to the luxury brands as well, though on a smaller scale than at Norwegian. “There’s cost opportunities in those brands, which we’re going to continue to go after,” he said.

For 2027, Chidsey said the luxury brands are already tracking to expectations, contrasting their relative predictability with the more variable outlook at Norwegian as that brand’s commercial team continues to be built out and refined.

“On the luxury side, I think things are pretty good,” he said.