NCLH Records Record-Breaking Wave Season

Norwegian Cruise Line Holdings (NCLH) has entered 2023 with a record-booked position at a higher price, with each of its three brands experiencing "record-breaking" wave periods.

The Norwegian Cruise Line (NCL), Oceania Cruise and Regent Seven Seas Cruises parent has seen "very strong" demand so far in 2023, according to a recent trading update covering the fourth quarter and full year to 31 December 2022. 

 

The company entered the year with a cumulative booked position of approximately 62% for 2023, in line with previously outlined expectations and within the firm’s optimal 60% to 65% range, and at higher prices than 2019 at a similar point in time.

 

Booking volumes have accelerated in recent months buoyed by strong wave season demand, NCLH said, with its brands achieving several booking records in recent months.

 

As a result, the full-year 2023 cumulative booked position is ahead of 2019 levels inclusive of the company’s 19% increase in capacity.

 

NCLH expects this positive momentum to continue throughout the year, with occupancy expected to average 100% for the first quarter and is on track to reach "historical levels" for the second quarter.

 

As of 31 December 2022, the company’s advance ticket sales balance, including the long-term portion, was $2.7 billion, approximately 9% higher than the prior quarter and approximately 30% greater than at year-end 2019.