NCLH losses narrow as cruise company sails toward positivity

The tri-brand cruise firm has entered 2023 on a bookings high.

NORWEGIAN Cruise Line Holdings has entered 2023 at a record booking position, and at a higher pricing, despite narrowing its net loss from $4.5 billion to $2.3 billion for the 2022 full year.

The company is taking an even more positive outlook for 2023, from both an expenditure and sales standpoint, with NCLH taking several steps in recent months to improve operating efficiencies, reduce costs, and maximise revenue generation opportunities.

These efforts are expected to result in a decrease of nearly 15% in adjusted net cruise costs, and with wave season demand proving strong, NCLH has posted its highest-ever booking months in November 2022 and January 2023.

NCLH has been experiencing record launches for its offers, with occupancy expected to average approximately 100% for the first quarter of the fiscal year, ahead of reaching expected historical levels for the second quarter.

Capacity is also expected to increase approximately 19% this year compared to 2019, with the arrival of three newbuilds: Oceania Cruises’ Vista, Norwegian Cruise Line’s Norwegian Viva, and Regent Seven Seas Cruises’ Seven Seas Grandeur.

Adjusted EBITDA is expected to be in the range of $1.8 to $1.95 billion for the 2023 fiscal year.

“2022 was an eventful year, as we successfully completed our nearly yearlong ‘Great Cruise Comeback’, welcomed our newest ship Norwegian Prima to our world class fleet and achieved several key milestones on our post-pandemic financial recovery,” President & Chief Executive Frank Del Rio Sr said.

“We are now squarely focused on the future and are taking deliberate and strategic actions to best position the company for its next chapter, which includes an industry-leading growth profile representing approximately 50% capacity growth over 2019.”

“Our three award-winning brands continue to resonate with loyal past guests and new guests alike, as evidenced by our strong guest satisfaction scores and the numerous booking records we have achieved in recent months, and we are excited to deliver memorable vacation experiences to the nearly three million guests we expect to welcome aboard in 2023.”

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