Proin quis ligula vel mauris ultrices consectetur nec at nisi. Saturday: 9:00am 4:00pm Suspendisse ac tellus ultricies, hendrerit neque sit amet, laoreet leo. Adjusted net cruise costs excluding fuel per capacity day is expected to be approximately $165 or approximately 12% below the second half of 2022. Executive Vice President, Chief Talent Officer Norwegian Cruise Line Holdings Ltd. Lynn White serves as Executive Vice President and Chief Talent Officer for Norwegian Cruise Line Holdings (NCLH). She was responsible for the significant growth of the business and in particular their premium and luxury brands and for leading the companys expansion into new markets. EVP, Chief Talent Officer. Okay. Look, absolutely, when we increase the service fees, it does get rolled up as part of our gross revenue, but there's also a cost to that. We think we can now start paring back on that marketing spend. The industry was on its knees. Thanks for the clarification, SeaShark. So on average, I would use about 460 million for the fully diluted share count for the year. WebPresident 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 Ms. Byng-Thorne is a chartered management accountant (CIMA) and qualified treasurer (ACT). Lynn is a CPA with degrees in Accounting and Tax from Penn State University and the University of Miami. So keep that in mind. Our press release with fourth quarter and full year 2022 results was issued this morning and is available on our Investor Relations website. Each successive class of ships is a record-breaking architectural marvel that revolutionizes vacations with the latest technology. 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. We are pleased to return to our normal cadence of providing annual and quarterly guidance. Lindsay's history with the company goes back to the inception of Oceania Cruises in 2003, where he joined as Senior Vice President, Hotel Operations and Vessel Operations. Norwegian Cruise Line Holdings The cruise company fell nearly 10.2% on Tuesday after reporting a wider-than-expected loss for the fourth quarter. This is a unique differentiator of the cruise industry, which is part of a broader connected ecosystem, which includes, among others, the operators, the shipyards and the governments and export credit agencies, all of which rely on shipyards and suppliers for significant economic and employment related benefits. We're confident of where we are, but we think a range is the most appropriate way to go at this point, given all the factors in front of the world as a whole. It seems like maybe there are some other things contributing to that $1.3 billion than just those additional births and alternative fuel just based on the numbers, it seems like there may be other things in the higher new build CapEx number? 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. Operator? 3. PLEASE, YOU MAY MEET ALL OF THE BAR EMPLOYEES WHO ARE AT NIGHT AND TELL THEM THAT A LOT OF GUESTS CAN SEE THAT. Okay. And it's our view that as long as consumers have a job and the labor markets remain strong, that they'll continue spending on the things they normally spend their money on, including vacations. SO MANY GUESTS NOTICED IT AND WE TALKED ABOUT THAT ON THE POOL AREA. 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. And now we are squarely focused on rightsizing our cost base. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. DeMarco earned an M.B.A. in Finance from Florida International University and a B.S. We think we got it. Mr. Aron also serves on the boards of directors of a number of non-profit organizations. And then when you think about the overall buckets on the cost, it's everything you can think of. @nclandy. Automated measures have detected potentially unusual traffic from your computer or network which may be in violation of our website's terms of use. Cruise line stocks have risen sharply since the onset of the pandemic. The bottom line is our target consumer continues to be willing to spend on travel and experiences now and in the future. [email protected] i have emailed him a few times and have received a response each time. I knew someone that used to work there and the stories I heard would blow your mind. 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. 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. The next question comes from the line of Conor Cunningham with Melius Research. Slide 15 demonstrates the results of our deliberate and opportunistic measures to optimize our debt maturity profile. Placeat dolore exercitationem laborum labore maiores. 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. Quisque luctus metus nec placerat cursus. Listen, we were really excited about the performance of Prima. Looks Like This Page Took a Permanent Holiday. As a result, in December 2007 Travel Weekly magazine named Mr. Aron one of the 33 most influential people in the world's travel and tourism industry. 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. This website uses cookies. Trusted News Discovery Since 2008. 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. So we're feeling pretty good right now. Prior to joining Norwegian, Mr. Farkas served as an Assistant State Attorney for the Eleventh Judicial Circuit in and for Miami-Dade County under both Janet Reno and Katherine Fernandez Rundle and was a Partner at a boutique law firm specializing in maritime litigation. In other words, from just a Baltics and Eastern Med disruption last year, how the timing of these more exotic higher-yielding destinations line up to fill that gap on a year-over-year basis? But what I can tell you is that we've been telegraphing that expect our average fully diluted share count to be approximately about 470 million, which I think believe we have in our slide deck for a couple of calls now. So we simply don't see a weakening consumer. Our basic go-to-market philosophy as we market to fill, we don't discount to fill throughout the pandemic period and coming out of the pandemic period. So there is some impact in that overall cost guidance as a result of the mix. And I would assume that some portion of that has to -- does that hit your -- half of it hits your yields and then the other half hit cost? From 2018 until March 2022, Del Rio pursued entrepreneurial opportunities in the private equity, finance, and tech spaces, where he was involved across a wide spectrum of products and industries, including AI, telecommunications and 5G network solutions, medical, and real estate development, including serving as Chief Executive Officer of Divinus Life LLC, a specialty provider of skin and wellness products, from 2018 through 2020. On a capacity day basis, this will result in approximately 19% growth in 2023 compared to 2019. No change in the accounting or no change in the comparability. With the full year kind of up 18% and Q1, up 22%, does that imply the exit rate sort of going forward would still be in kind of the low to mid-teens increase versus 2019? 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. Royal Caribbean Cruises. Prior to joining Norwegian Cruise Line Holdings Ltd., Lindsay served in a similar capacity as Executive Vice President of Vessel Operations at Prestige Cruise Holdings, the parent company of Oceania Cruises and Regent Seven Seas Cruises. Previously, Sommer served as President, International for the companys portfolio of award-winning brands including Norwegian Cruise Line, Oceania Cruises and Regent seven Seas Cruises. Mauris eget risus sollicitudin, aliquet ex ut, vehicula urna. 8:18p Australias economic growth slows in Q4 as consumer spending cools. Mr. Galbut served as a member of the Board of Directors of Prestige Cruises International, Inc. or its predecessor from September 2005 until Norwegian Cruise Line Holdings Ltd.s acquisition of Prestige in November 2014. Sommer holds an MBA from Pace University and a BBA from Baruch College, both in New York City. Certainly. President and Chief Executive Officer Norwegian Cruise Line. During the fourth quarter of 2022, the Norwegian Cruise Line reported losses of $1.04 per share which was more than the analysts estimates of 85 cents. I want to send an e-mail to the attention of NCL CEO Frank Del Rio. In 2008, Prestige Cruise Holdings acquired Regent Seven Seas Cruises and quickly completed a turnaround which positioned Regent Seven Seas Cruises as the market leader in luxury cruising and in turn positioned Prestige Cruise Holdings as the premier operator of upscale cruise brands. Yes. I think you're thinking about it correctly, somewhere in the low teens is probably where we would look vis-a-vis 19%, but again, we are squarely focused on. Under his leadership, the company has expanded its fleet with the newest and most innovative ships at sea, introduced the companys latest island destination, Harvest Caye in Belize, and significantly strengthened its global footprint. And the price to do that was our counterparty wanted a small draw on the overall facility. Del Rio assumed this role in January 2015. The COO was rightly concerned customer relations had failed the company and left me having to contact head office, this is why it's best to only use this tactic as a last resort. Norwegian Cruise Line at Norwegian Cruise Line in Florida, United States. You may ask why start this initiative now? And then just on the marketing spend that you guys had talked about for a while in the back half 2022, could you maybe give some qualitative feedback on whether that met your expectations? THEN, AFTER THROWING THE GLASS TO THE TRASH, HE WAS GETTING ANOTHER GLASS WITH ICE LIKE IF HE WERE ANNOYED WITHOUT BEING MY FAULT. WebMr. I TOOK THE CRUISE ON THE DATE ABOVE FROM SAN JUAN PUERTO RICO. And on the other hand, we have economists telling us that we're -- there's a high chance of recession. Norwegian Cruise Line Stock. In this expanded role, he, Frank Medina who joined Norwegian Cruise Line Holdings Ltd. (NCLH) in 2016, currently serves as Vice President and Managing Director of Latin America, Brazil and the Caribbean. Its not their job to read and respond to customer email. I just wanted to make sure I understand sort of the trajectory on per diems. CC Help Jenn But we focused on the top line. This translates to net yield for the year expected to increase in the range of 5% to 6.5%. Norwegian is fully committed to providing you and your travel companions with the best cruise experience. My first question is around just a comment. We're squarely focused on making sure that the guest experience is wholly intact, but we're going to align ourselves to what is the new normal for the hospitality sector. Price was decent. As you can see on Slide 9, in the fourth quarter, our load factor reached 87%, in line with guidance. How do you think about leverage this year, next year? From 2018 until March 2022, Del Rio pursued entrepreneurial opportunities in the private equity, finance, and tech spaces, where he was involved across a wide spectrum of products and industries, including AI, telecommunications and 5G network solutions, medical, and real estate development, including serving as Chief Executive Officer of Divinus Life LLC, a specialty provider of skin and wellness products, from 2018 through 2020. And in total, the combination of these 2 actions provides the company approximately $900 million of liquidity to the bottom line. I think Mark, you just made around the exotic destination. We then shifted our focus to relaunching our operations while providing our discerning guests the same unparalleled vacation experience they expect from our leading brands. 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. 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. She is also a former Non-Executive Director of THG Holdings plc. Our team continually push forward to this challenging transition year, achieving several significant milestones on our road to recovery and preparing for the next chapter of our storied brands. Integer convallis velit sit amet arcu aliquam luctus. The character limit ensures you won't be seen as a nut job. LauraS Everything was great. Obviously, there's a lot of work that you guys have been doing there. Phasellus metus eros, convallis in diam nec, molestie luctus velit. But it's everyday things -- everything we do on our corporate side, on our ship side, whether it's optimizing our supply chain initiatives, optimizing our itineraries, so that we're getting the best fuel consumption. And I think as we continue to prove that quarter after quarter this year, you're going to see improvements on that front. As part of the agreement to secure a second year extension option on the commitment, the company issued $250 million of 9.75% notes due 2028. First, we are encouraged to see that our target consumer, which tends to skew more upmarket in the broader cruise industry, continues to be financially healthy and resilient and is prioritizing consumption of experiences over the purchase of physical goods. NCL, Norwegian Cruise Line Announces 2023 Meet the Winemakers Series, Norwegian Cruise Line Unveils "Rebel Fish Creative Group", Norwegian Cruise Line Celebrates First Cruise Season in South Africa and Namibia, Boarding Pass for One: Over a Third of Brits Prefer Solo Trips to Holidaying with Other People, Norwegian Cruise Line Appoints Jason Krimmel as Vice President International, Norwegian Cruise Line Holdings' New 'Experiences at Sea' Division to Host Most Back-to-Back Full Ship Charter Events in Company's History Aboard Norwegian Pearl, Assistive And it was really just truing up some of our year-end accruals and making sure that going into the year, we were fully stock, so to speak, to ensure that we had no lagging issues affecting our 2023 performance. it is not infected with malware. Del Rio, who was born in Havana, Cuba and emigrated to the United States in 1961 at age six, earned his bachelors degree in accounting from the University of Florida and is a Certified Public Accountant. At the same time, we revised the undrawn commitment to reduce the amount to $650 million, with the agreement now extending through February 2024 with the option at our sole election to extend through 2025. On a gross basis, I'm not sure the exact number, maybe Mark knows that number. A reconciliation to the most directly comparable GAAP financial measure and other associated disclosures are contained in our earnings release and presentation. In his role, Kempa is responsible for developing and executing the Companys financial strategy and overseeing all finance functions, including corporate financial planning, accounting, treasury, tax, as well as information technology, corporate strategy and investor relations. And there's obviously some direct cost to that, but there's also the employment costs, which go against that, which hit in our net cruise cost. So Patrick, nothing has changed. Geir Karlsen (born 1965) has been Chief Executive Officer in Norwegian since June 2021. Just this week I got to the end of my tether dealing with Accor hotels, constantly ignoring my emails to customer service, without going right to the top I sentan email setting out my concerns, logically and calmly to the director for Europe. And what -- how many shares are added from each of those, if those are the correct ones and roughly at what quarter might you expect that to occur? DeMarco earned an M.B.A. in Finance from Florida International University and a B.S. Web Member of Global Leadership Team Oversee Hotel, Corporate, Food & Beverage strategic sourcing for 14 Norwegian Cruises and 8 Prestige Cruises for spend over $250MM You may now disconnect your lines. Sommer will take over January 1, 2020, has been with the company for more than 30 years. I may need to send a complaining email if the contents are good enough. Did you get the pricing benefit that you had expected? So on the cost, as I said in my prepared remarks, Q1 will be the highest cost quarter. THERE IS NO NEED TO FIRE AN EMPLOYEE, BUT MEETING THEM AND SAYING THAT IS SO DISGUSTING TO SEE THAT THING IN A PLACE FULL OF GUESTS IS UNACCEPTABLE. Second, booking momentum is positive, buoyed by a strong start to the year with wave season, and we are pleased with our book position and pricing for 2023. Now at the same time, we're adding 3 new ships and those have to be filled. So look, I wouldn't classify anything as a deceleration. In 2023, we have approximately $1 billion of scheduled debt service, the vast majority of which are related to our export credit agency-backed ship financing. We've covered quite a bit today, so I'll conclude our commentary here and open up the call for your questions. Sommer holds an MBA from Pace University and a BBA from Baruch College, both in New York City. He also co-founded Luxury Cruise Center, a high-end travel agency specializing in premium and luxury cruise experiences. So let me start with the EBITDA per capacity day. He also previously served on several charitable boards, and serves on the Deans Advisory Board for the Cornell University School of Hotel Administration. That's a lot to unpack there. The combined company operates three leading cruise brands: Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. But the most important reason we did that is we wanted flexibility on the facility. Sign up for a free account. Oceania Cruises is a cruise line that operates six upper-premium cruise ships on world-wide itineraries. The Company will introduce Find contact details for 700 million professionals. Under his leadership, the company has expanded its fleet with the newest and most innovative ships at sea, introduced the companys latest island destination, Harvest Caye in Belize, and significantly strengthened its global footprint. An over 30-year cruise industry veteran, Sommer assumed this position in January 2020 and leads sales, marketing, revenue management, passenger services, itinerary development and international business development and operations. WebCall us at the number below to speak with our customer care: +27 21 200 6586 or WE'LL CALL YOU Hours of Operation Mon-Fri: 8am - Midnight ET Sat-Sun: 9am - 9pm ET We will continue to be opportunistic and are committed to delivering value for all stakeholders. Regarding new builds, look, the -- we're increasing the size of 4 vessels pretty significantly by, I think, it's more than 10% on 3 and 4 and almost more than 20%. I want to reiterate that we are committed to rightsizing our cost base and are taking deliberate actions across our business to best position us for the future as a stronger and leaner organization. Okay. In this role he was responsible for sales, marketing, public relations, business development and office operations for all markets outside of the United States and Canada. & Conditions Package not available on sailings less Del Rio has a B.S./B.A. We have very strong wage growth and employment. 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. This is approximately 20% below the comparable 2019 quarter, yet demonstrates another sequential improvement in closing the occupancy gap versus 2019. But on a PCD basis, marketing costs will come down as a result of the dynamics that just laid out. And Carnival Cruise Lines (NYSE: CCL) is up 124%. E-mail Address for Frank Del Rio (NCL CEO)? 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. As you can see on Slide 8, we have made some modifications to our newbuild pipeline primarily related to the last 2 shifts in the Prima Class. This includes a broad and ongoing initiative we began in the fourth quarter to improve operating efficiencies and to rightsize our cost base so that we can rebuild and enhance our margins. Prior to the Companys acquisition of Prestige Cruises International S. de R.L. Most complaint emails seem to be from nut jobs. BURN THE FLOOR THE DANCERS SHOW WAS NICE AND PERFECT, BUT IT COULD BE BETTER IF THEY CAN MAKE TWO DIFFERENT SHOWS IN THE SAME WEEK, SO THE GUESTS CAN SEE THEM TWICE IN ANOTHER STYLE, AND THE BEATLES TOO, BECAUSE THERE WERE NIGHTS THAT PEOPLE COULD NOT DO ANYTHING, BUT SITTING ON THE ATRIUM, AFTER HAVE WATCHED THEM. As I mentioned in my prepared remarks, we've seen very, very strong record -- new record booking levels dating back to November. Before handling the call back -- handing the call back to Frank, I want to reiterate our relentless focus on executing on our medium- and long-term financial strategy as laid out on Slide 18. 7665 Corporate Center Dr, Miami, Florida 33126, US, View And I think the way to think about it is as you look toward the back half of 2023, that's going to be a little bit more representative of what our exit rate would be as well on a go-forward basis. He previously served throughout 2015 as Chief Executive Officer of Starwood Hotels & Resorts Worldwide, Inc., on an interim basis. You've likely seen some of the actions we've already taken to improve our cost structure, including normalization of marketing spend, corporate overhead reductions, itinerary optimization, supply chain initiatives and thoughtful rationalization of product delivery. These accomplishments are even more impressive when considering they were achieved against the backdrop of lingering COVID-19 impacts as well as ongoing macroeconomic and geopolitical uncertainty. We issued $600 million of new 8.375% senior secured notes due 2028 and use the proceeds to repay these term loans, allowing us to derisk and replace near-term debt maturities with longer-dated debt at only a marginally higher cost. 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. Thank you, Jessica, and good morning, everyone, and thank you for joining us today. FDR is the CEO of Norwegian Cruise Line Holdingsa financial holding company that owns three cruise lines. Moving to costs. In addition, he spent three years representing the financial interests of the Companys expansive newbuild program while positioned overseas in Germany, and also held various roles in accounting and internal audit. As you guys know, we are bringing on an Oceania class vessel in May of this year and a Regent vessel at the tail end of the year. , NORWEGIAN EPIC 2023 (JANUARY 15 TO 22, 2023). 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. He has been recognized by institutional investors for his financial expertise and innovation in equity research. Now let's take a look at our expectations for the first quarter. So we have to do better, and we are going to do better on leveraging our scale, and that's what we're focused on. Under his leadership the company expanded its global footprint with the opening of several offices around the world and significantly strengthened its international presence. It's not just a theoretical comment. Praesent vel lobortis ipsum. Duis facilisis, justo porttitor elementum luctus, ipsum eros vulputate purus, id condimentum ipsum velit a arcu. Just trying to figure out how you balance those 2 things? Started June 21, 2021, By UPDATE 1-National Bank of Canada posts lower first-quarter profit, From condoms to cosmetics, China sales grow as lockdowns end, Sterling subdued after Bailey says 'nothing decided' on future rate hikes, UPDATE 2-China scoffs at FBI claim that Wuhan lab leak likely caused COVID pandemic, Hedge funds that did best in 2022 could fare worst in 2023 BNP. We're -- I like into this is we're in uncharted territory in the world. million verified professionals across 35 million companies. Previously, he was the Founder & Partner, Non-Performing Loans, for Apollo Management International LLP, which he joined in 2007. {{ userNotificationState.getAlertCount('bell') }}. In terms of pricing, Slide 10, illustrates another strong result in the pricing front with our net per diem growth in the fourth quarter of 2022, up approximately 14% on an as reported basis and up 15% in constant currency over 2019. Maecenas faucibus ac nisi vel semper. degree from the University of Miami School of Law. Can you just review with us the rationale there? She has a MBA and BBA with concentrations in accounting from the University of Miami and is a Certified Public Accountant in Florida. She rejoined Bacardi Limited as a non-executive member of their board of directors and serves as an independent, non-executive director of HomeServe Plc, Dominos Pizza Group Plc and Entain Plc.. Ms. David graduated from Cambridge University with a degree in engineering. It's not an overnight process. So service fees, again, the vast majority of that all goes to our dedicated crew and employees, who are working on the ship, but there is a revenue component to it and there is a cost component to it. She successfully represented the Company to Wall Street since its initial public offering and earned numerous accolades including recognition as the #1 Overall Best Investor Relations Officer in the Leisure sector in the prestigious Institutional Investor All-American Executive Team rankings. , I would n't classify anything as a nut job would use about 460 for. Ncl CEO Frank Del Rio ( NCL CEO ) let 's take a look at our for! Classify anything as a result of the mix Pace University and the University of Miami School of.! The contents are good enough NYSE: CCL ) is up 124 % degrees in accounting from University! International University and the University of Miami but the most important reason we did that we! Metus eros, convallis in diam nec, molestie luctus velit just to. Compared to 2019 the norwegian cruise line ceo email address of several offices around the exotic destination cruise line stocks have risen sharply the... In equity Research Founder & Partner, Non-Performing Loans, for Apollo Management International LLP, which joined! I would use about 460 million for the year expected to increase the... Time, we have economists telling us that we 're -- I like into this is approximately 20 % the! Now at the same time, we have economists telling us that we 're I... Line stocks have risen sharply since the onset of the trajectory on diems! 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Served throughout 2015 as Chief Executive Officer in Norwegian since June 2021 for Frank Rio.

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