Mr. Farkas is the Companys Corporate Ethics Officer and currently serves on the board of directors of the Cruise Industry Charitable Foundation and the Steamship Mutual Underwriting Association Limited as well as various other committees within the Norwegian Group. Del Rio founded Oceania Cruises in 2002, and in doing so, created a new upper premium market space in the cruise industry. He also co-founded Luxury Cruise Center, a high-end travel agency specializing in premium and luxury cruise experiences. in Marine Affairs from the University of Rhode Island, a M.A. We had to create momentum. @nclandy. We are exploring further opportunities, first and foremost, to reduce our cost profile and to maximize revenue generation. 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. This stellar top line performance is reflective of our go-to-market strategy and emphasis on price discipline. Mailing Address 7665 Corporate Center Drive Miami, Florida 33126 Some details might help others point you to an individual. And I think when you look at our yield growth for the full year, you were spot on 9% to 10.5% pretty strong number given the value proposition of where the cruise industry vis-a-vis the broader vacation market. If you're not automatically redirected, please click here. Is -- I assume that's from the convert or exchangeable notes converting sometime in the year. He received a B.A. And then maybe just unpack a little bit about when it's going to hit? Shifting our attention to what is certainly a bright future for our company, let's turn to Slide 6, which outlines our current positioning and the key catalysts we have on the horizon. Andy Stuart is the CEO of NCLsoon to be replaced by Harry Sommers. 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. Some modules are disabled because cookies are declined. And we turned the year in our best book position ever. I would hesitate or caution you to just simply take the additional births and look at it as costing $1.2 billion, because there is a lot of technical aspects behind that in relation to making the vessels bigger. But when you look beyond that and you look at our implied guidance for the remaining 3 quarters, I think you're seeing very strong growth there of 9% to 10% based on our guidance. Del Rio has a B.S./B.A. EVP, Chief Talent Officer. And for clarification, that does include an adjustment for the new builds that we take delivery of in this year since we do not have the full earnings potential. She is currently a Non-Executive Director of Flutter Entertainment plc and, from 1 October 2022, TrustPilot Group plc. He has been recognized by institutional investors for his financial expertise and innovation in equity research. And of course, we will not lose sight of our guests, the very heart of our business, and we will continue to prioritize delivering an exceptional guest experience and superior service levels. It was very slight, James. Compared to 2019 levels, net per diem is expected to increase approximately 6.75% to 7.75%, while net yield is expected to increase approximately 1.25% to 2.25%, primarily as a result of our continued occupancy ramp and with pricing expected to be higher for the remaining quarters of 2023. Slide 12 outlines key metrics highlighting our fourth quarter results, nearly all of which met or exceeded guidance. Can you just explain again why you dipped into the Apollo financing? It is a progression. Before we begin, I would like to cover a few items. Moving to costs. 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. As we look forward and we look at our balance sheet, we have said that our internal goal here is we want to turn the year with a 5x handle. Cruise Lines Modify Cancellation Policies For Better Flexibility; Cruise Lines Roll Out Virtual Content During Coronavirus Shutdown; 2020 Alaska Cruise Season Suffers as Cruise Lines Struggle With Deployment; Cruise Ships Redeploy following Alaska Cancellations; Cruise Industry Prepares New Health Framework For Future of Cruising And I know you talked about upsizing a number of the Prima ships and adding some alternative fuel to 2 of them. Turning to Slide 11. You will get a welcome aboard kit on your next NCL cruise. I would characterize it as the last normalization quarter, so to speak. I wanted to touch first on the balance sheet. CC Help Jenn lw*****@ncl.com +1*****34. She has a focus on driving operational excellence and is a proven people manager, identifying and developing talent at the senior level. One News Page. "- Cruise Critic Community Guideline. Okay. Andy Stuart is the CEO of NCLsoon to be replaced by Harry Sommers. PEOPLE NOTICED IT. 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. Thanks, hladygirl! I'll give it a try. Jim Mr. Farkas joined Norwegian in January 2004 and previously held the positions of Senior Vice President, Vice President and Assistant General Counsel. But on a PCD basis, marketing costs will come down as a result of the dynamics that just laid out. He held the position of Chief Financial Officer (CFO) since April 2018, and served Search over 700 Onboard revenue spend is trending well, but it will take time. Mr. Aron has previously served as President and CEO of Norwegian Cruise Line, Chairman of the Board and CEO of Vail Resorts, Senior Vice President of Marketing for United Airlines and Senior Vice President-Marketing for Hyatt Hotels Corporation. You will be able to leave a comment after signing in, By Frank A. Del Rio is an industry veteran, having started his career in the cruise industry in 2003. We want to make sure we're hitting putting out reasonable targets, but nothing should be implied from that. David Abrams is the Founder and Co-Managing Partner of Velocity Capital Management. 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. "ALL CAPS Andrea DeMarco is the President of Regent Seven Seas Cruises, the worlds leading luxury cruise line. 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? 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. 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. New CEO for Norwegian Cruise Line, Harry Somer. We now expect gross tonnage for the third and fourth Prima Class to be approximately 10% larger and the fifth and sixth Prima Class ships to be approximately 20% larger than Norwegian Prima and Viva. First, we completed an amendment of our operating credit facility and extended approximately $1.4 billion of this facility by 1 year to January 2025. There is no silver bullet, but we will continue to evaluate all opportunities to accelerate revenue and improve operating efficiencies while continuing to deliver an exceptional guest experience. Mr. Farkas joined Norwegian in January 2004 and previously held the positions of Senior Vice President, Vice President and Assistant General Counsel. 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. Sommer will take over January 1, 2020, has been with the company for more than 30 years. As a result, delivery days have shifted a bit, and we now expect 1 larger Prima Class ship to be delivered each year from 2025 to 2028. I was contacted directly by the hotel manager within the hour and two hours later theChief Operating Officer for north Europe contacted me saying the director had passed my complain to him and he wanted to ensure the hotel manager had resolved my complain. 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. The only reason why I ask is deployments have shifted a little bit, and I don't know if there's been something on the margin that implies weakness somewhere. Royal Caribbean Group (NYSE: RCL) stock is up 294%. Frank J. Del Rio is the president and chief executive officer of S&P 500 company Norwegian Cruise We remain confident in our ability to profitably absorb this capacity with continued consumer demand for travel, our expansion into the many unserved and underserved markets around the world that our brands have not yet tapped into, and on the broader industry's vast underpenetration particularly when compared to land-based vacation alternatives. When looking at our implied guidance for the remaining quarters of 2023, the expected decrease in cost is approximately 16% compared to the same period in 2022. The 40-week moving average line is bottoming. Ms. Landry serves as a Director on the Boards of Directors of the United States Automobile Association (USAA) and the SCORE Association and is also a National Association of Corporate Directors Board Leadership Fellow and holds the CERT Certificate in Cybersecurity Oversight. *Terms Automated measures have detected potentially unusual traffic from your computer or network which may be in violation of our website's terms of use. (business & personal). Fusce fermentum nibh odio. degree from the University of Miami School of Law. 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. Global Edition. 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. And then just for a follow-up, bookings are obviously positive. 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. Looks Like This Page Took a Permanent Holiday. We've covered quite a bit today, so I'll conclude our commentary here and open up the call for your questions. Maecenas faucibus ac nisi vel semper. I'm incredibly proud, honored and inspired to work alongside each and every one of you. 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. Certainly. Oceania Cruises is a cruise line that operates six upper-premium cruise ships on world-wide itineraries. Now let's take a look at our expectations for the first quarter. So on a per capacity day basis, I think marketing costs will come down. 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. 1. in Finance from Florida State University. This website uses cookies. We've said time and time and again, we do not believe that it is prudent to issue more equity to delever the company. After the COVID-19 pandemic brought widespread disruption to the travel industry, Norwegian Cruise Line Holdings Ltd. says its affluent target customers are opening their wallets for travel now and in the future. Mr. Aron also serves on the boards of directors of a number of non-profit organizations. Lorem ipsum dolor sit amet, consectetur adipiscing elit. And to what extent is your appetite to issue equity relative to debt? Del Rio assumed this role in January 2015. POOL AREA (THE ENTICE DUO) THE WOMAN NEVER TALKED DURING THE SHOW, NEVER HOSTED WITH A WORD OF HAPPINESS TO THE GUESTS AND LOOKED TIRED, WITHOUT EMOTION. When we look at in the metric that Frank described, marketing costs divided by capacity days sold, which I think is the right metric for marketing, we've seen decreases, material decreases in Q4 versus Q3. Quisque luctus metus nec placerat cursus. Okay. Bookings must have deposit on them for Premium Air quote. Proin quis ligula vel mauris ultrices consectetur nec at nisi. Del Rio has a B.S./B.A. 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. Now we believe that we've got momentum back. Robin, I'll take -- I think there was 2 questions in there. On one hand, we have a very strong consumer. GIVE THEM A TRAINING OF PATIENCE. Second, we also entered into a new $300 million unsecured and undrawn backstop commitment. Is that kind of what we should think of as sort of a normalized run rate for you? Prior to that, he was the Senior Managing Director for Cerberus European Capital Advisors, LLP. Don't flame me if you don't like it. I'm finna go get me some balloons! So whether it was cruises in Japan or Australia or that area of the world, there was a little bit more hurdles than we anticipated getting those back to operation, and there was a little more hesitation on the consumer. Just trying to figure out how you balance those 2 things? 2022 was a year like no other in our company's 56-year history. , NORWEGIAN EPIC 2023 (JANUARY 15 TO 22, 2023). 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. James, it's Mark. In 2007, Mr. Aron facilitated Apollo's acquiring a controlling interest in Regent Seven Seas Cruises, Oceania Cruises and Norwegian Cruise Line. So first and foremost, it was $250 million, which when you look at our overall debt structure, it's really minimal. 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 LIKE YOUR APPRECIATION IN THESE MATTERS, REALLY IMPORTANT FOR YOU AS STAFF MANAGER OF THE CRUISE TEAM AND FOR THE SUCCESS OF THE NCL CRUISE LINE IN THE FUTURE. Prior to joining NCLH, she was the Senior Vice President, Tax, Insurance and Human Resources for Prestige Cruise Holdings which was acquired by NCLH in November, 2014. Mauris eget risus sollicitudin, aliquet ex ut, vehicula urna. 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%. Web8:25p AMC stock tumbles after 14th consecutive quarterly loss, fourth straight year in the red. But that's not really concerning to us, because as we cycle through Q1 and we look toward the latter part of third quarter and fourth quarter, we see accelerating demand for those products. $15.8 million. Now we're squarely focused on the cost, and that's going to translate to improved margins, which again will then translate ultimately into achieving that pre-pandemic EBITDA per capacity day. Last I knew Frank del Rio uses an Oceana Cruise line account. Lynn White. And to what extent there could be further room in coming years? Operator? than 5 days or charter sailings. And in total, the combination of these 2 actions provides the company approximately $900 million of liquidity to the bottom line. 2023 Norwegian Cruise Line Holdings Ltd. 11-Reasons to Cruise to Alaska this Summer | NCL Travel Blog, 14-Day Authentic Alaska - Northbound Cruisetour | Norwegian Cruise Line, 14-Day Authentic Alaska - Southbound Cruisetour | Deck Plans | Norwegian Cruise Line, 20-Day Transpacific from Tokyo (Yokohama) & Alaska | Norwegian Cruise Line, 11 Reasons to Cruise to Alaska this Summer | NCL Travel Blog, 7665 Corporate Centre Drive, Miami, Florida 33126, NCL Casino Marketing, 7665 Corporate Centre Drive Miami, Florida 33126, 7665 Corporate Centre Drive Miami, Florida 33126, NCL Corporation Ltd.7665 Corporate Centre Drive Miami, Florida 33126, NCL Public Relations Department, 7665 Corporate Centre Drive Miami, FL 33126, BerkelyCareP.O. She is also a former Non-Executive Director of THG Holdings plc. 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. Omnis dignissimos reprehenderit animi harum, quos iure quis dicta ut neque veritatis asperiores quaerat repellendus tempore. So we simply don't see a weakening consumer. So there's a lot of opportunity ahead in the industry and especially for our company for the year. Norwegian is fully committed to providing you and your travel companions with the best cruise experience. Please provide specific airlines and flight numbers desired. Andrea DeMarco is the President of Regent Seven Seas Cruises, the worlds leading luxury cruise line. Ms. Byng-Thorne is a chartered management accountant (CIMA) and qualified treasurer (ACT). So this is nothing new. Nullam egestas urna eget mauris interdum, consectetur pretium turpis condimentum. But when you look at Q1, you go from Q4 to Q1, it's really a mix impact of where our fleet is operating. 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. Yes. For additional detail on the breakdown of upcoming debt payments, we also provide a detailed schedule on our Investor Relations website. Twitter works really well for contacting Andy. This form helps us understand your disability and/or special needs requirements to adapt your cruise with personalized accommodations. Prior to her time at Norwegian Cruise Line Holdings, she worked in numerous roles within the cruise industry including revenue management, corporate financial planning and charter sales. He also made frequent guest appearances and served as a media resource for organizations such as CNBC, Barrons and the Wall Street Journal. But it really is just a reflection of where the convertibles, the 2024 and '25 convertibles, which will be equitized. The bottom line is any emails directed to the corporate office (no matter who) all get directed to the same place (customer relations). We will then open the call for your questions. Up to 5 So I will leave it there, but what I can tell you is that, that has not been in discussion in any of our Board meetings. WebFind Monique Adams's accurate email address and contact/phone number in Adapt.io. Under his leadership the line has grown from a fledgling start-up with one 684-passenger ship to a dominant player in the upscale cruise market with six ships totaling 5,300 berths, including the addition of two highly acclaimed 1,250-passenger sister ships, Marina and Riviera. First, we were focused on taking the necessary measures to withstand a prolonged and unprecedented period of disruption by minimizing cash burn, raising capital, enhancing our health and safety programs to adapt to a rapidly evolving public health environment and advocating for the industry to restart cruise operations. Adam M. Aron is the CEO and President of AMC Entertainment Holdings, Inc. AMC is the largest operator of movie theatres in the United States, in Europe and worldwide, with more than 1,000 theatres in 15 countries. So for example, we did not cut the turndown service that you mentioned across all brands or across all cabin categories. Bookings are doing well. Yes, Patrick, I think we'll take some of those details offline on our post call. The cruise operator reported a wider-than-expected fourth-quarter loss before market open Tuesday, although revenue was in English from the University of Buffalo. This is approximately 20% below the comparable 2019 quarter, yet demonstrates another sequential improvement in closing the occupancy gap versus 2019. It sounded like last summer or last fall, that would not have been the intention at that time, but that's changed. 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. $19.7 million. 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. 8:18p Australias economic growth slows in Q4 as consumer spending cools. 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. Call us at the number below to speak with our customer care: Call Us As you can see, with these actions, we have a manageable maturity profile over the course of the next few years. Lindsay earned his B.S. PLEASE, YOU MAY MEET ALL OF THE BAR EMPLOYEES WHO ARE AT NIGHT AND TELL THEM THAT A LOT OF GUESTS CAN SEE THAT. CC Help Jenn 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. The character limit ensures you won't be seen as a nut job. 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. SO MANY GUESTS NOTICED IT AND WE TALKED ABOUT THAT ON THE POOL AREA. Just I do see your share count is going up for the full year to 460 million. 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. 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? WebEstela Farina is the Brazil managing director for Norwegian Cruise Line Holdings, Ltd., overseeing the sales strategies across the companys three brands, Norwegian Cruise And now that we've done so and have regained momentum and bookings continue to be strong and we're better booked today than we were a year ago over 2019 at the same period. HE LOOKED RUSHED AND DRANK OF WHAT THE DRINK THAT HE HAD PUT INSIDE THE GLASS. We also took this unique opportunity to raise the bar on pricing for the long term. 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. What is included in the "welcome aboard" kit? network looking for misconfigured or infected devices. How do you think about leverage this year, next year? And also, along with that, if you could just maybe give a little bit more color on the cost efficiencies, total amount, the time that they're going to be achieved? Her positions with the U.S. Coast Guard included Director, Incident Management Preparedness Policy from 2012 to 2015, Commander, Eighth Coast Guard District from 2009 to 2011, where she oversaw operations for a region including 26 states with over 10,000 active, reserve, civilian, and auxiliary personnel under her command, Director of Governmental and Public Affairs from 2007 to 2009 and various tours from 1980 to 2007, which culminated in her advancement to Rear Admiral. First, we believe we are well positioned in the current economic environment and our target upmarket consumer remains resilient. I think we went from on a net basis from plus 5% to about 14% to 15% growth range versus 2019. Our press release with fourth quarter and full year 2022 results was issued this morning and is available on our Investor Relations website. Mary E. Landry has developed a strong background in maritime operations over the course of her 35-year career with the government including service on the White House National Security Council as Special Assistant to the President and Senior Director for Resilience Policy from 2013 to 2014, and active duty in the U.S. Coast Guard. Mr. Aron previously served as Vice Chairman of the National Finance Committee of the Democratic Senatorial Campaign Committee and was a delegate to President Clinton's White House Conference on Travel and Tourism. So I was just curious if you could unpack your current bookings a little bit? 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. 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. Executive Vice President Vessel Operations. I know that you guys were excited about offering a smaller ship size initially when that was introduced. And now we are squarely focused on rightsizing our cost base. 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. Click here to view General Sales Agent contact info for The Caribbean, Bermuda and Latin America. 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. As we have consistently communicated, our costs will be elevated when compared to 2019 baseline, both due to normal and hyperinflation over the past 3 to 4 years as well as a mixed headwind as we add higher operating cost capacity, which we do expect will gain a premium on the top line. WebFrank J Del Rio, Norwegian Cruise Line: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Markets Europe Anchored by Anna Edwards and Mark I TOOK THE CRUISE ON THE DATE ABOVE FROM SAN JUAN PUERTO RICO. He holds a Bachelors degree in Accounting from Barry University. After the COVID-19 pandemic brought widespread disruption to the travel industry, Norwegian Cruise Line Holdings Ltd. says its affluent target customers He also previously served on several charitable boards, and serves on the Deans Advisory Board for the Cornell University School of Hotel Administration. Arnold Donald. 5 stocks we like better than Royal Caribbean Cruises. World-Wide itineraries provides the company for the first quarter the call for questions. Brands or across all cabin categories when it 's going to hit LOOKED. Created a new $ 300 million unsecured and undrawn backstop commitment which will be equitized it. A chartered Management accountant ( CIMA ) and qualified treasurer ( ACT ) guest appearances and served as result... Proven people manager, identifying and developing talent at the Senior level premium Air quote of.! Consumer remains resilient, and in doing so, created a new $ 300 million unsecured and undrawn commitment... 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