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 million verified professionals across 35 million companies. THIS WAY PEOPLE CAN SELECT OR CHOSE WHERE THEY WANT TO BE AT THE SAME TIME IN DIFFERENT PLACES WITHOUT STAYING BORED WALKING THROUGH. Can you just review with us the rationale there? We are hitting our milestones that we've laid out for several quarters now. Thank you, Frank, and good morning, everyone. Everything was great. 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. The top question this quarter was what are our plans to bring in new customers and also reward brand loyalists to entice them to cruise. PLEASE, MEET THE WORK TEAM AND TELL THEM, THAT THEY HAVE TO WAIT WITH PATIENCE UNTIL THE GUEST DECIDE WHAT TO DRINK WELL, DUE TO THE VARIETY OF DRINKS, AND NOT TO THROW THE RUM FAST IN THE GLASS WITHOUT BEING SURE OF WHAT THE GUEST WANT. From 2004 through 2007, he founded and was the Head of the Specialty Finance Investment business which included principal investing in non-performing loan portfolios and distressed assets. Just in terms of the cost initiatives that you're talking about, can you just frame up the buckets and where you're expecting the biggest improvement and maybe like a potential upside there? I see that Any Stuart will still be CEO until the end And just recently, Giada De Laurentiis was named godmother of Oceania's upcoming Vista, which highlights the brand's focus on having the fun is to (inaudible) . 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. 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. Executive Vice President, General Counsel and Assistant Secretary Norwegian Cruise Line Holdings Ltd. Daniel S. Farkas is the Executive Senior Vice President and General Counsel of Norwegian Cruise Line Holdings Ltd. I just wanted to make sure I understand sort of the trajectory on per diems. She has a focus on driving operational excellence and is a proven people manager, identifying and developing talent at the senior level. Started June 21, 2021, By We have time for 1 more question, operator. Since you caps locked your entire letter, we made sure to throw it immediately into the round circular bin named "delete" in our Outlook account. Understood. $15.8 million. But we think by being -- we want to be conservative. It's not just a theoretical comment. Executive Vice President, General Counsel and Assistant Secretary Norwegian Cruise Line Holdings Ltd. Daniel S. Farkas is the Executive Senior Vice President and General Counsel of Norwegian Cruise Line Holdings Ltd. But on a PCD basis, marketing costs will come down as a result of the dynamics that just laid out. 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. The first being the length of the booking curve, which is a forward-looking indicator and the second one being onboard revenue, a real-time indicator of a consumer's actual spending, both of which continue to hold strong with no signs of fading. LauraS 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? Okay. So if marketing was the cost of maintaining our industry-leading yields and it was well worth it. She served as Chief Sales and Marketing Officer for Regent Seven Seas Cruises since September 2021, during a pivotal time for the cruise line as it resumed operations post-pandemic. Slide 15 demonstrates the results of our deliberate and opportunistic measures to optimize our debt maturity profile. Under his leadership the company expanded its global footprint with the opening of several offices around the world and significantly strengthened its international presence. 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 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. 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. 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. 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 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. Thank you, Jessica, and good morning, everyone, and thank you for joining us today. By continuing to browse the site you agree to our use of cookies. Norwegian It is a progression. 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. We are in a dynamic environment, all signs that we see are looking good, and that's evidenced by our pricing power and our Q4 results as well as our guidance for the year. We simply don't see any weakness. So look, it's management's responsibility to optimize revenue and minimize costs. He also previously served on several charitable boards, and serves on the Deans Advisory Board for the Cornell University School of Hotel Administration. She's come out of the gate is our best book ship, great yields, great onboard revenue, and most importantly, great -- I guess, experience, excuse me, great guest satisfaction scores. You will be able to leave a comment after signing in, By Call us at the number below to speak with our customer care: Call Us *Terms Suspendisse ac tellus ultricies, hendrerit neque sit amet, laoreet leo. 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. The 40-week moving average line is bottoming. What sort of was the hang up there or it seems to point to fuel, but I thought fuel generally -- at least the spot prices seem to get better since October. HE LOOKED RUSHED AND DRANK OF WHAT THE DRINK THAT HE HAD PUT INSIDE THE GLASS. Proin quis ligula vel mauris ultrices consectetur nec at nisi. SEVERAL GUESTS WERE TALKING SITTED IN THE ATRIUM AND SAYING THAT THIS IS A GREAT RECOMMENDATION, SO WE DO NOT GET BORED FOR MORE THAN AN HOUR WITH NO MUSIC, FOR THE ONES WHO DONT LIKE MOVIES, BINGOS AND THE GAMES, AND CANNOT BE IN THE POOL AREA (DUE TO THE WIND), BECAUSE OTHERS DO PREFER TO BE DANCING INSIDE AND WANT TO BE ENTERTAINED TOO AS THE ONES ON DECK 15. Our goal is not only to rebuild our margins, but over time, continue to enhance them, and we look forward to demonstrating this improvement over the coming quarters. 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. Thank you. No change in the accounting or no change in the comparability. WebEstela Farina is the Brazil managing director for Norwegian Cruise Line Holdings, Ltd., overseeing the sales strategies across the companys three brands, Norwegian Cruise The bottom line is our target consumer continues to be willing to spend on travel and experiences now and in the future. Tuesday, February 28, 2023. 2022 was a year like no other in our company's 56-year history. You will get a welcome aboard kit on your next NCL cruise. So when you look at the totality of that draw, which is relatively minor in the broader scope of our debt, versus having a 2-year flexible backstop, we thought that was the prudent course of action to take at a relatively reasonable cost on the overall facility. Steve, I think the other way to think about it is we're simply aligning ourselves to what others in the hospitality sector have done as well. Thank you for joining us for our fourth quarter and full year 2022 earnings and business update call. (business & personal). We want to make sure we're hitting putting out reasonable targets, but nothing should be implied from that. 7665 Corporate Center Dr, Miami, Florida 33126, US, View She joined NCLH as Controller in November 2014 after the Acquisition of Prestige. WebSheehan previously occupied the position of Chairman at Florida Caribbean Cruise Association, Director at Scientific Games Corp., President & Chief Executive Officer of Norwegian Cruise Line Holdings Ltd. and President & Chief Executive Officer at NCL Corp. Ltd. (a subsidiary of Norwegian Cruise Line Holdings Ltd.), Chief Financial Officer at 8:18p Australias economic growth slows in Q4 as consumer spending cools. 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. If we look at where this industry was not so long ago, we -- it was only last May of 2022 where we started operating all of our vessels. President and Chief Executive Officer Norwegian Cruise Line. Mr. Abrams began his career in 1989 as an analyst in the Investment Banking Division of Bear, Stearns & Co. and then was an associate/vice president at the Argosy Group, a boutique corporate restructuring firm. So Q1 was really just impacted by that. Is -- I assume that's from the convert or exchangeable notes converting sometime in the year. We use cookies to optimize the website, no personal information is stored. And even if you start looking into '24, it's never too early to talk about next year. Sure. Crescent Heights has been active in over 15 markets from coast-to-coast and has developed over 50,000 residential units, including pioneering the condo hotel concept. Harry Sommer Email Address. Sommer holds an MBA from Pace University and a BBA from Baruch College, both in New York City. He is also Chairman and CEO of World Leisure Partners, Inc., a personal consultancy for matters related to travel and tourism and high-end real estate development and which acts in partnership with Apollo Management L.P. IT WAS A LACK OF RESPECT. in Finance from Florida State University. Previously, he was the Founder & Partner, Non-Performing Loans, for Apollo Management International LLP, which he joined in 2007. The 40-week moving average line is bottoming. Oceania Cruises is a cruise line that operates six upper-premium cruise ships on world-wide itineraries. 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. Typing in ALL CAPITAL LETTERS is considering shouting by many, so please double check your caps lock key before posting. We are pleased to return to our normal cadence of providing annual and quarterly guidance. We are exploring further opportunities, first and foremost, to reduce our cost profile and to maximize revenue generation. Please provide specific airlines and flight numbers desired. We believe that the -- we're trying to balance what customers pay, what they actually pay for and what they receive. Started October 12, 2018, Copyright 19952023 The Independent Traveler, Inc. Lynn White. Thank you, Mark. 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. Now we believe that we've got momentum back. 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. And then my other expense question is on the $1.3 billion in higher new build CapEx. 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. Our overall liquidity position remains strong. So nothing material. But we focused on the top line. Guests requiring special accommodations must fill out the Guest Special Needs Request Form. Certainly. Their problems are 1) long email (ain't nobody got time for that - I stop reading work emails after 2 paragraphs)and 2) either not asking for anything specific or asking for too much and possibly 3) complaining about things that don't warrant more of a response. 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. THE WAITRESS WENT WALKING OUTSIDE THE BAR AFTER HAS FILLED THE GLASS AND PUTTIN IT ON THE TRAY. Get Phone Number. 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 l We've said time and time and again, we do not believe that it is prudent to issue more equity to delever the company. 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. As previously announced by Flutter Entertainment, Ms. Byng-Thorne plans to step down from her role as a non-executive director of Flutter Entertainment prior to January 31, 2023. 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. WebRoyal Caribbean International has been delivering innovation at sea since its launch in 1969. Did you get the pricing benefit that you had expected? And then when you think about the overall buckets on the cost, it's everything you can think of. in Marine Affairs from the University of Rhode Island, a M.A. From March 2010 to December 2011, Ms. Ashby held the position of Senior Director of Financial Reporting with Prestige, where she started the Financial Reporting Department and was responsible for the preparation of annual financial statements, coordination of external audits and researching technical accounting issues. 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. These statements should be considered in conjunction with the cautionary statement contained in our earnings release. As we successfully concluded our Great Cruise Comeback with the last vessel in our fleet reentering service midway through the year. For the second half of 2022, adjusted EBITDA was nearly breakeven. Thanks for the clarification, SeaShark. 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. Carnival Corporation. It was just all items on the margin. Be in the know about the hottest deals, new ships, new itineraries and so much more! So on average, I would use about 460 million for the fully diluted share count for the year. 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? & Conditions Package not available on sailings less 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. 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. , NORWEGIAN EPIC 2023 (JANUARY 15 TO 22, 2023). 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. It was very slight, James. 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. We've talked previously about the 2 high-level indicators we carefully monitor to evaluate the willingness of consumers to spend on cruise travel. Just trying to figure out how you balance those 2 things? Before we wrap up our prepared remarks, I'd like to provide an update on our global sustainability program, Sail & Sustain, which Slide 19 outlines a few key highlights. 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