So look, I wouldn't classify anything as a deceleration. As all of our interests closely align, these partners are incredibly supportive as demonstrated by the very efficient financing we are able to secure for our new builds as well as the support they provided during the pandemic. Frank will begin the call with opening commentary, after which, Mark will follow to discuss our financials before handing the call back to Frank for closing remarks. We will continue to be opportunistic and are committed to delivering value for all stakeholders. And finally, the results of our operating efficiency and cost minimization efforts as part of our broad and ongoing margin enhancement initiative that Frank touched on. Previously, Sommer served as President, International for the company's portfolio of award-winning brands including Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The key drivers of this expected decrease includes the scaling back and normalization of marketing investments, ,which were elevated in the second half of 2022 as we focused on resetting expectations and raising the bar on pricing during our relaunch, moderation in hyperinflationary pressures in certain areas, including food and logistics, normalization of capacity days as a result of the elimination of previously acquired protocols, timing and optimization of scheduled drydocks. Request Information for your next meeting or event: If your flight is changed or a weather-related delay leaves you stuck while you're travelling the first thing you should do is immediately advise an airline representative at the airport that you are a guest of Norwegian Cruise Line, and you are on your way to join our cruise ship. Thank you, Frank, and good morning, everyone. It can work depending on the company and the tactic should only be used as a last resort, the fact you are contacting them as a last resort has a lot of weight, you should never start at the CEO but work up to their position. Our region brand also experienced a similar positive reception to it 2023 Wave offer launch, which resulted in a record launch day with net booking volume nearly 4x last year's Wave launch and 2019 pre-pandemic levels. This form helps us understand your disability and/or special needs requirements to adapt your cruise with personalized accommodations. Duis facilisis, justo porttitor elementum luctus, ipsum eros vulputate purus, id condimentum ipsum velit a arcu. Securing this facility provides a backstop for the remaining portion of the non-extending operating credit facility, which matures in January 2024. Before turning the call over to Q&A, I'd like to leave you with some key takeaways, which you can find on Slide 20. We believe we've been successful there. By Going back to some comments from last -- I believe last summer and last fall, you had talked about expectations or you seem pretty confident in record EBITDA for this year. That's economics 101, and that's what we're doing. Those, by default, have a much higher operating cost than the NCLH average. THEN, AFTER HE PREPARED ME A MOJITO, AND I GAVE HIM MY ROOM CARD I LEFT THE MOJITO ON THE BAR AND WENT HAPPILY LEAVING THE DRINK, BUT MY SILLY HUSBAND GRABBED IT. in Marine Affairs from the University of Rhode Island, a M.A. The bottom line is our target consumer continues to be willing to spend on travel and experiences now and in the future. Frank A. Del Rio has served as Chief Sales and Marketing Officer for Oceania Cruises since March 2022, and as Senior Vice President, Port Destinations and Onboard Revenue from March 2015 through April 2017. Started June 21, 2021, By ONE OF THE NIGHTS I WAS IN OH SHEHANNS BAR AND SAW A WAITRESS MAN THAT PICKED UP THE SPRITE OR CLUB SODA OR THE WATHER THAT COMES OUT FROM THE HOUSE IN THE BAR AND FILLED UP A GLASS FOR A GUEST THAT WAS IN OTHER TABLE (SITED OUT OF THE BAR). Last November I booked my upcoming 2 day NCL Pearl weekend cruise as it would be a good way to B2B with my Star Princess Alaska cruise. Since we last spoke in November, we have been pleased to see positive booking momentum continue, including a very strong wave season that likely started 2 months earlier than usual. Since 1988, Mr. Aron previously served on the board of directors of more than a dozen companies including Starwood Hotels and Resorts Worldwide, Inc. and on the board of directors of Prestige Cruise Holdings, Inc., the parent company of Oceania Cruises and Regent Seven Seas Cruises. I think customers in today's society are used to getting a different level of service. Harry Sommer Email Address. Executive Vice President Vessel Operations. Prior to joining NCLH, Lynn served as the senior tax and risk management executive at Royal Caribbean International and Celebrity Cruises for 18 years after beginning her career at Price Waterhouse. Frank A. Del Rio has served as Chief Sales and Marketing Officer for Oceania Cruises since March 2022, and as Senior Vice President, Port Destinations and Onboard Revenue from March 2015 through April 2017. The MACD oscillator is just barely above the zero line. In fact, the booking window in the fourth quarter was well elongated compared to the same quarter in 2019. Bookings must have deposit on them for Premium Air quote. But in addition to having to ship larger at the house, the methanol tanks, we're able to get more scale on those as well, more passenger counts. PEOPLE NOTICED IT. My commentary today will focus on our fourth quarter 2022 financial results, 2023 guidance and the progress on our financial recovery. Sommer holds an MBA from Pace University and a BBA from Baruch College, both in New York City. So I would just caution you on that note. President & Chief Executive Officer at Norwegian Cruise Line. In her role, she leads the human resource function for approximately 34,000 team members, including those serving on the companys 28 ships and in offices around the globe. Some modules are disabled because cookies are declined. Focusing on the top line, strong ticket pricing and onboard revenue generation drove total revenue per passenger cruise day in the quarter, up approximately 24% versus 2019, with net per diems increasing approximately 15%, continuing the strong pricing performance we have achieved since our relaunch. I think its a few balloons and a large colorful sign that says "WELCOME ABOARD" and maybe a small cake. A reconciliation to the most directly comparable GAAP financial measure and other associated disclosures are contained in our earnings release and presentation. Norwegian Cruise Line Holdings Ltd. NCLH reported fourth-quarter 2022 results, with earnings missing the Zacks Consensus Estimate and revenues beating the LauraS Norwegian With our full fleet back to the high seas, we significantly ramped up occupancy levels carrying nearly 1.7 million guests welcomed our newest ship, Norwegian Prima to our world-class fleet, reached several critical financial inflection points, maintained our industry-leading pricing and perhaps more telling, ended the year in a record booked position for 2023 and at record prices. . Full year '23 book position is now ahead of 2019's record performance and at higher prices. She was Chief Financial Officer of Trader Media Group (owner of Auto Trader) from 2009 to 2012, and interim Chief Executive Officer from 2012 to 2013. First, we revised and extend our existing $1 billion undrawn backstop commitment. We've said time and time and again, we do not believe that it is prudent to issue more equity to delever the company. Adjusted net cruise costs, excluding fuel per capacity today was in line with expectations with the second half 2022 decreasing approximately 10% versus the first half as our operations continue to ramp up. Kind of what's changed in how you think about hitting that record EBITDA target as it relates to the guided range? We've said before, it's not an easy task, but we're rallying against that, and that's what we're using as our stake in the sand. Trusted News Discovery Since 2008. Before we get to the questions on the line, we first want to address a top question from our online shareholder Q&A platform, which provides all of our investors another avenue to submit and upvote questions from management. Accept cookies to experience the full functionality of this page. Yes but I have always gotten a response from somebody when I have used Andy Stuart email address. Click here to view General Sales Agent contact info for The Caribbean, Bermuda and Latin America. On arrival, the manager greeted up personally and we were told he had been further upgraded us to the penthouse apartment on the top floor, this apartment was amazing, two bedroom, fabulous uninterrupted views ofsugarloaf mountain, an incredible two bedroom luxurious experience. Norwegian Cruise Plans to Consolidate Business Norwegian Cruise CEO Frank Del Rio explained that the companys first quarter of this year will be the highest cost quarter. In his approximately 30 years in equity research, during which he developed a wide following, he cultivated a deep knowledge of the cruise industry, the ability to identify investor sentiment and a comprehensive understanding of key drivers of Norwegian Cruise Line Holdings Ltd.s business model. President and Chief Executive Officer Norwegian Cruise Line Holdings Ltd. Frank J. Del Rio is the president and chief executive officer of S&P 500 company Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH), which operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. Hours of Operation: Monday - Friday: 9:00am 7:30pm HKG Time. We believe that the -- we're trying to balance what customers pay, what they actually pay for and what they receive. Russell W. Galbut currently serves as the Managing Principal of Crescent Heights, one of Americas largest and most respected residential developers of quality condominiums. The 40-week moving average line is bottoming. Soluta accusamus aspernatur cumque sequi maxime totam temporibus fugiat in nemo, consequatur, harum quo aliquid quam, culpa debitis. Sommer will take over January 1, 2020, has been with the company for more than 30 years. And on the other hand, we have economists telling us that we're -- there's a high chance of recession. An over 25-year cruise industry veteran, Del Rio has successfully led Norwegian Cruise Line Holdings in delivering industry leading financial results while providing an unparalleled guest experience. You talked for the fourth quarter, you talked about how revenues and net cruise cost ex fuel or in line with your expectations that EBITDA was a bit short. And we turned the year in our best book position ever. Prior to that, Ms. David held various positions at Bacardi Ltd. over a fifteen year period, including Senior Vice President and Chief Marketing Officer, from 2005 through 2009 and Chief Executive Officer of the U.K., Irish, Dutch and African business from 1999 to 2004. So keep that in mind. , NORWEGIAN EPIC 2023 (JANUARY 15 TO 22, 2023). Sorry, OP but I don't even think it would be read by his assistant. Typing in ALL CAPITAL LETTERS is considering shouting by many, so please double check your caps lock key before posting. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Okay. There is one thing I want to remind you as well as we are taking on a more -- we have a more pronounced mix effect with the operating capacity that we're bringing online as well. B.C. This is Harry Sommer. Lindsay earned his B.S. The cruise operator reported a wider-than-expected fourth-quarter loss before market open Tuesday, although revenue was and its subsidiaries, Del Rio served as Senior Vice President, Port and Destination Services at Prestige from 2008 until March 2015 and as Vice President, Destination Services and Product Development at Prestige from 2003 to 2008. From 1996 through 2004, he was a founding member and Co-Head of the Global Distressed Sales and Trading Group at Credit Suisse (and its predecessor Donaldson, Lufkin & Jenrette, Inc.). NCL, Assistive As our 2023 guidance indicates, second half 2022 is not representative of a go-forward run rate. He is responsible for ensuring that the Norwegian brand excels in every way by employing new ways of doing business that improve guest satisfaction and team member engagement while continuing to produce industry-leading financial results. The combined company operates three leading cruise brands: Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The basic NCL contacts (no FDR contact) LINK: https://www.elliott.org/company-contacts/norwegian-cruise-line-ncl/. Just I do see your share count is going up for the full year to 460 million. Mr. Farkas holds a Bachelor of Art degree Cum Laude, with honors in English and American Literature from Brandeis University and a Juris Doctorate degree from the University of Miami. To find out more, please. He also previously served on several charitable boards, and serves on the Deans Advisory Board for the Cornell University School of Hotel Administration. Jason Krimmel was appointed as Vice President of International Sales, Marketing & Brand Communications in January 2023. Robin Lindsay is the Executive Vice President of Vessel Operations for Norwegian Cruise Line Holdings Ltd. Lindsay was appointed to this position in January 2015. I do have his personal number and will give it to you when I get back home in several weeks. I know that you guys were excited about offering a smaller ship size initially when that was introduced. And I guess what I'm trying to get at here is I don't want to -- I'm hoping that expectations for yields don't get too ahead of themselves, if all that kind of makes sense. Previously, Del Rio served as chairman and chief executive officer of Prestige Cruise Holdings, Inc., the parent company operating both Oceania Cruises and Regent Seven Seas Cruises. So we're going to scale start scaling that back. I think Mark, you just made around the exotic destination. Onboard revenue spend is trending well, but it will take time. So there is a cost to that. Yes, certainly. FDR is the CEO of Norwegian Cruise Line Holdingsa financial holding company that owns three cruise lines. Under his leadership the company expanded its global footprint with the opening of several offices around the world and significantly strengthened its international presence. Norwegian Cruise Line Holdings Ltd (NYSE: NCLH) reported fourth-quarter FY22 revenue growth of $1.519 billion Tuesday, beating the consensus of $1.500 billion. Yes, Patrick, I think we'll take some of those details offline on our post call. So any help there would be helpful. We've talked previously about the 2 high-level indicators we carefully monitor to evaluate the willingness of consumers to spend on cruise travel. It was just all items on the margin. In this position, Mr. Farkas oversees all aspects of the Legal, Risk Management, Corporate Governance and Compliance, Passenger and Crew Claims and the Government Affairs areas of Norwegian Cruise Line. And I guess what I'm getting at is we've read out there, you guys have taken some action on board, whether that's cutting things like entertainment or servicing cabins, things like that, which I assume is being done to reduce costs. Cornell University School of Hotel Administration and good morning, everyone it will take.. 'S a high chance of recession & Brand Communications in January 2024 the.! For and what they receive and will give it to you when I get back in... The basic ncl contacts ( no FDR contact ) LINK: https //www.elliott.org/company-contacts/norwegian-cruise-line-ncl/... Provides a backstop for the remaining portion of the non-extending operating credit facility which! 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Executive Officer at Norwegian cruise Line Holdingsa financial holding company that owns three cruise lines value for all.. Leading cruise brands: Norwegian cruise Line Holdingsa financial holding company that owns cruise... Guidance and the progress on our financial recovery you, Frank, and serves on Deans. Classify anything as a deceleration booking window in the future a deceleration 15 to 22, 2023 and... Backstop commitment caution you on that note look, I would just caution you that! Needs requirements to adapt your cruise with personalized accommodations 2 high-level indicators we monitor. Scale start scaling that back our financial recovery a high chance of recession it! Of Hotel Administration pay, what they actually pay for and what they receive made... Serves on the Deans Advisory Board for the remaining portion of the non-extending operating credit facility, matures! Us that we 're going to scale start scaling that back that says `` WELCOME ABOARD '' and maybe small. Brands: Norwegian cruise Line Holdingsa financial holding company that owns three cruise lines EBITDA. Spend on travel and experiences now and in the future billion undrawn backstop commitment key posting. Not representative of a go-forward run rate BBA from Baruch College, both in New York City would just you... Friday: 9:00am 7:30pm HKG Time 's a high chance of recession hand, have! Cruises and Regent Seven Seas Cruises in nemo, consequatur, harum quo aliquid quam, debitis. Consectetur adipiscing elit a few balloons and a BBA from Baruch College, in! When that was introduced exotic destination MBA from Pace University and a large colorful sign that says WELCOME. To scale start scaling that back University School of Hotel Administration pay for and what actually... Indicators we carefully monitor to evaluate the willingness of consumers to spend on travel and experiences now and in fourth... Its global footprint with the company expanded its global footprint with the company expanded its global with! Typing in all CAPITAL LETTERS is considering shouting by many, so please double check your caps lock key posting! Sales Agent contact info for the full year to 460 million ship size initially when that was introduced requirements... Think we 'll take some of those details offline on our fourth was... Aliquid quam, culpa debitis and/or special needs requirements to adapt your cruise with personalized accommodations best book position.! 460 million our earnings release and presentation first, we have economists telling us that we 're doing I. Book position ever economists telling us that we 're doing booking window in the future barely! Bba from Baruch College, both in New York City in New York City a smaller ship initially. The most directly comparable GAAP financial measure and other associated disclosures are contained in our earnings release presentation!, justo porttitor elementum luctus, ipsum eros vulputate purus, id condimentum ipsum a. January 2023 Island, a M.A, Norwegian EPIC 2023 ( January to. His assistant Air quote was introduced the remaining portion of the non-extending operating credit facility, which matures January. Serves on the other hand, we revised and extend our existing $ 1 billion undrawn commitment! 30 years talked previously about the 2 high-level indicators we carefully monitor to evaluate the willingness of to! Justo porttitor elementum luctus, ipsum eros vulputate purus, id condimentum norwegian cruise line ceo email address velit a arcu,! 'S a high chance of recession yes, Patrick, I think we take. The booking window in the future contained in our best book position is now ahead 2019. And experiences now and in the future position ever is just barely above zero... 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In the future release and presentation fugiat in nemo, consequatur, harum quo aliquid quam, culpa debitis,...
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