Norwegian Cruise Line’s momentum accelerates into 2018

Norwegian Cruise Line Holdings’ net income rose 23% last
year to $780 million, as European pricing and bookings recovered faster than
expected and the booking curve extended to a near optimal length.

Revenue rose 10.7%, to $5.4 billion.

The Wave season for 2018 has started strong and outlook for
2018 is bullish, driven by a strong economy and consumer demand, CEO Frank Del
Rio said.

“This year is by far the most excited, the most
energized and the most optimistic I have ever been at the start of a new year,”
Frank Del Rio said.

He said the strong demand environment of late 2016 and 2017
has “accelerated through this year’s early Wave season, as both the number
of bookings sold and the price points achieved reach record levels” across
all three brands — Norwegian Cruise Line, Regent Seven Seas Cruises and
Oceania Cruises.

“Our overall booked position during the first seven
weeks of 2018 further improved compared to the same time last year,” he
said.

He said on average NCLH guests are booking five weeks
earlier than at the end of 2016.

Del Rio said the weak link, if there is one, is China. “I
don’t think China is hitting on all cylinders as it can,” he said,
referencing the continued tensions with South Korea and the resulting
uniformity of short cruise itineraries, which can only visit Japan. Nevertheless,
he said China was profitable in 2017.