What does My Future Cruise Credit not cover? So, we said last quarter that we wanted to be prudent in terms of our guidance. No, you will have to apply your Future Cruise Credit to a future cruise onboard Norwegian Cruise Line. Book and get $500 Savings Credits bonus to use on you future cruises, hotels, resorts and more with iCruise Rewards. A good way to be sure to redeem the full amount is to consider a cabin upgrade, book an ocean view instead of an inside cabin or treat yourself to a balcony instead of an ocean view stateroom. The new booking must be made within one year of the cancellation date. This should result in a lower run rate cost level exiting 2023 than our full year reported results. Hi, Steve. To make the world smarter, happier, and richer. My name is Paul, and I will be your operator. During the first months of the pandemic in 2020, Norwegian Cruise Line issued thousands of FCCs to guests who saw their cruises canceled. Look, our book position, Harry touched on it earlier, we're exactly where we need to be to hit our goals and our guidance. Well, Steve, first of all, you know, I appreciate the adjective you used of destroying our guidance, but I would like to say we healthily beat our guidance. It's really around our promotions and advertising variable costs that would have any sort of influence. And, of course, with our bundling strategy that we've embarked on, you know, over the last few years, and that's really taking full throttle in 2023, that does have some headwinds to our overall net yield. So, just any more detail there between maybe the gross in the net. Norwegian Cruise Line ( NCLH 9.40%) Q1 2023 Earnings Call. Use the cruise search filters on NCL.COM to find the perfect cruise. All I can tell you is that we are laser-focused on that, and I think we will continue to have sequential improvement quarter over quarter. Frank, well, congratulations on absolutely an amazing career. Harry? So, the remainder of it, we are carrying through. This does not mean, however, that we will not continue to invest in our product or service offering to enhance our guest experience. I remember reading there was a form that my kids could fill out to transfer their cruise credits to me, does anyone have a link to that form? This includes the previously communicated changes to the last four Prima class ships to make them up to 20% larger than the first-generation ships, as well as the addition of the methanol-ready configuration to the last two ships to increase optionality and help future-proof these long-life assets and reach our decarbonization goals. 10 stocks we like better thanNorwegian Cruise LineWhen our analyst team hasa stock tip, it can pay to listen. Flights are considered an add-on to the main cruise fare so, your Future Cruise Credit would not cover the cost of the flight, however, here at my Future Cruise Credit, we can help you use your Future Cruise Credit towards a cruise inclusive of the promotional add-ons you had with your original cruise. I had a question if we could circle back just for a moment to the occupancy. Instead of getting the amount refunded to your credit card, you may be issued a certificate you can use towards your next Norwegian Cruise Line sailing. Regardless of the original Future Cruise Credit's expiration date, the new Future Cruise Credit is valid through December 31, 2021, at which time all unused funds will expire. Thanks for that, Mark. Bookings cancelled inside final payment that are not paid in full will default to the standard refund process with penalties applied. Both the conference call and presentation will be available for replay for 30 days following today's call. Europe: I.C.E Europe Ltd. Company Number: 03793955. This website uses cookies. Should your credits be applied to an active reservation, the refund amount will be subject to Norwegian's cancellation fee policy communicated to our guests at the time of booking and may be found on our website, An active and existing FCC is attached to a profile of a guest who has passed away. So, when you combine all those factors together, that's what gives us good -- great confidence in where our pricing is. See all the ways you can use your Savings Credits Credits below, then find out how many you're eligible for right away! What happens if the cancelled booking had a previous FCC applied? Well, ladies and gentlemen, once again, I want to thank everyone on this call, whether you're a travel partner, a vendor, a lender, or an analyst, you've supported us. Purchased onboard credits TAANZ No: 9838. If a Future Cruise Credit was leveraged to pay for a reservation now impacted by the global sailing suspension, we are making it easy by combining all funds into one voucher. A future cruise credit is typically delivered via email within a few weeks' time, depending on how long it takes the cruise line to process it. By continuing to browse the site you agree to our use of cookies. The full value of FCC will be credited back to the guest's Latitudes profile if cancellation is outside of standard penalties. So, I'm going to kind of ask Dan's question maybe a little bit differently. An Future Cruise Credit is almost always a compensation due to a cancelled, interrupted or rebooked cruise. Which guests on the bookings receive the Future Cruise Credit? Dining or beverage packages (those not part of the Free at Sea (FAS) promotion) We are focused on better leveraging our scale as we embark on this period of transformational growth and translating this capacity growth into outside benefits to both the top and bottom line. So, in order to preserve cash for the long term and given the very efficient rates, we simply decided to finance more. To redeem a Future Cruise Credit or for additional questions, please call 1-866-921-7925 to speak with a Costco Travel expert. This represents a 15% decrease as compared to the average of $187 in the second half of 2022. NORWEGIAN CRUISE LINE Norwegian Cruise Line has a unique CruiseFirst program that allows anyone to put down an open deposit for a future cruise right from the website, even if you haven't ever cruised with the line. And as we look out over the next five years, this increases to approximately 50% growth versus 2019. Future Cruise Credit will be credited to you via your Latitudes number and communication will be sent to you once the credit is added to your account. Can I use My Future Cruise Credit towards the deposit of a cruise? We will continually evaluate options to accelerate our recovery while maintaining adequate financial flexibility to adapt to different macroeconomic backdrops. But we're happy with both occupancy and price, especially for the key summer period. Norwegian Cruise Line has extended its Future Cruise Credit (FCCs) booked by date until the end of the year. You know, I just want to add to Mark's comment that our guests have to fly to get to a cruise. Please proceed with your question. We've talked previously about the actions taken earlier this year to address a large portion of our 2024 maturities, so I won't go into further details today, but a summary is provided on Slide 16 for your reference. And, Harry, welcome to the hot seat, as they say. Can guests choose to carry promotional amenities or value adds from their cancelled reservation to their future booking? You can redeem any FCC by calling us! Why Is SoFi Stock Down After Earnings? When will I receive My Future Cruise Credit? The credit is typically broken down by each individual guest on the reservation, and their charges. Paul, I think we have time for one more question. Harry, congrats on the new role. Bon Voyage gifts and celebration packages Future Cruise Credits will be credited to you via your Latitudes number within seven working days. Thank you. Read Also: Norwegian Cruise Line Holdings Is First to Opt-In to Voluntary CDC Guidelines. Future reservations are subject to prevailing fares and offer in-market at the time of booking. ET. To give you an example, bookings for Regent's 2026 World Cruise were nearly 70% higher than its 2022 World Cruise, which was the last world cruise launched pre-pandemic, at an average price point of over $230,000 per suite. 19952023, The Independent Traveler, Inc. Special Event: Q&A with Rudi Schreiner, President, Co-Founder & Co-Owner - AmaWaterways River Cruises, Q&A with Avoya Travel: Learn How to Turn Your Passion into Success by Becoming an Independent Travel Advisor. We continue to expect modest sequential improvement each quarter in 2023 as occupancy increases and as a result of initiatives which have already been identified and implemented. Contact Guest Services. Thousands of domestic & international car hire and both low-cost & scheduled flights. Effective from the 29th July 2020 the below values are rewarded in Future Cruise Credits: Proceed with your question. Mark? If the amount of your credit exceeds the cost of the new cruise, then the balance will be reissued as a new FCC voucher (but likely the same expiration date). Once the transfer is completed, a confirmation email will be sent to the email provided at time of case submission. If one of the available insurance plans is not added to the reservation, the FCC will be removed from payment. At this time all participants are in a listen-only mode. Adjusted net cruise cost, excluding fuel per capacity day, is expected to be approximately $159 in the second quarter, a further improvement versus the prior quarter as additional savings initiatives are realized. So, something that -- absolutely, it impacts us. Dining/beverage packages that are not part of the Free At Sea programme Obviously, it sounds like wave has been healthy, but would you say things are stable, accelerating, or decelerating kind of on a core basis when you adjust for those factors? Some FCCs are combinable. So we did overachieve in Q1. ALL RIGHTS RESERVED. (Those are often reimbursed to the original form of payment, like a credit card.). How is the Future Cruise Credit protected against future cancellations? At Holland America, the credits must be used by Dec. 31, 2022. Patrick Scholes -- Truist Securities -- Analyst. Thank you, Jessica, and good morning, everyone. Yeah, Brandt, good morning. What happens if the cruise I booked using my Future Cruise Credit is cancelled? NCL, once you have a reservation, allows you to buy onboard credit up to $1000 per sailing. CRUISE HIVE LTD 2008-2023. Ancillary pre-purchased items include: Beverage or dining gratuities (if part of the Free At Sea promotion selection) Depending on the cruise line, an FCC will likely not cover future charges such as: 19952023, The Independent Traveler, Inc. .css-18jw8gc{-webkit-appearance:none;-moz-appearance:none;-ms-appearance:none;appearance:none;-webkit-align-items:center;-webkit-box-align:center;-ms-flex-align:center;align-items:center;-webkit-box-pack:center;-ms-flex-pack:center;-webkit-justify-content:center;justify-content:center;-webkit-user-select:none;-moz-user-select:none;-ms-user-select:none;user-select:none;position:relative;white-space:nowrap;vertical-align:middle;outline:2px solid transparent;outline-offset:2px;line-height:1.2;border-radius:var(--chakra-radii-md);transition-property:var(--chakra-transition-property-common);transition-duration:var(--chakra-transition-duration-normal);height:auto;min-width:var(--chakra-sizes-10);font-size:var(--chakra-fontSizes-md);background:none;border:0;color:black;display:inline;margin:0px;padding:0!important;font-family:var(--chakra-fonts-Roboto);font-weight:500;padding-top:0.625rem;padding-bottom:0.625rem;-webkit-padding-start:1rem;padding-inline-start:1rem;-webkit-padding-end:1rem;padding-inline-end:1rem;}.css-18jw8gc:focus-visible,.css-18jw8gc[data-focus-visible]{box-shadow:var(--chakra-shadows-outline);}.css-18jw8gc:disabled,.css-18jw8gc[disabled],.css-18jw8gc[aria-disabled=true],.css-18jw8gc[data-disabled]{opacity:0.4;cursor:not-allowed;box-shadow:var(--chakra-shadows-none);}.css-18jw8gc:active,.css-18jw8gc[data-active]{border:var(--chakra-borders-none);background:none;}.css-18jw8gc:hover,.css-18jw8gc[data-hover]{border:var(--chakra-borders-none);background:none;}.css-18jw8gc:focus,.css-18jw8gc[data-focus]{border:var(--chakra-borders-none);outline:2px solid transparent;outline-offset:2px;box-shadow:var(--chakra-shadows-none);}Cookie Consent, Mega-Chart: Compare Hurricane Sandy Cruise Line Compensation. Congrats, Frank and Harry. Upon submission of the online request, an email will be sent to the email address entered on the form with a response and case number. I guess to what extent should we expect that to continue to step down throughout the year. Can I use my Future Cruise Credit to book cruise extras and add-ons such as shore excursions stays tours or drink packages onboard? Of course, as you -- as your occupancy ramps up, you do see a little bit less of pricing power on your lower meter, i.e. Special Promotional Onboard Credits (OBC). With that, I will now turn the call over to Mark for his commentary on our financial position and outlook. [Operator instructions] As a reminder to all participants, this conference is being recorded. You can redeem any FCC by calling us! I booked and paid for 2 cabins, we received future cruise credits to be used within 1 year and the credit was issued to each of the cruisers. Vietnamese Company Number: U63030DL2017FTC324871. Any ancillary items sold by Norwegian Cruise Line will be refunded to the cardholder who made the original purchase (refunded to the original form of payment) and will not be included in the Future Cruise Credit. And there's always going to be some variable variability in there, but nothing that overly concerns us. In 2015, I was given the opportunity to lead Norwegian Cruise Line Holdings into its next chapter, one where we brought together three of the industry's leading brands, Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises to form the best cruise operator in the industry. CruiseNext deposits applied to a reservation cancelled under our Peace of Mind policy will not be reissued. Norwegians Enhanced Peace of Mind Policy was available from December 30, 2021 through January 31, 2022. Hey, good morning, everybody. In the first quarter, CruiseNext achieved its highest quarterly results in the program's history, surpassing the previous record. I am also pleased to report that we expect to achieve another significant milestone in the quarter with adjusted EPS turning positive for the first time since the pandemic at approximately $0.25 per share. Listen, in Q2 and in all future quarters, our focus now is on having our cabins as close to 100% full as possible. Bottles of wine Slide 13 highlights our first quarter results, in which we are pleased to report that we met or exceeded guidance for all key metrics. With this significant achievement, we have also nearly closed the occupancy gap versus 2019 levels. And what's unique about that in the third and fourth quarter, obviously, we're taking -- we have a higher -- we have the higher operating cost brands of Oceania and Regent. Can I make a new booking before I receive my Future Cruise Credit and will this be applied after I booked. Our target consumer remains resilient with a persistent desire for travel and experiences. After that, its a short wait until March 2, when Norwegian Sky will return to service, also sailing the Caribean from Miami. Peace of Mind is the company's new temporary policy that allows new and existing individual and group bookings in non-chartered sailings embarking from May 15, 2020 through and including December 31, 2020 to cancel their booking up until 48 hours from the start of their holiday date and receive a 100% future cruise credit (FCC) for the payments that are already received by Norwegian Cruise Line. So, while we're not ready to necessarily change the rest of our guidance metrics, I think we're trending well, and we're trending healthy, and I think our guidance reflects that. And we had to sell those voyages close in for, you know, very efficient pricing. Following up on the strategic shift to longer, more immersive itineraries, should we be thinking about any other financial ramifications of this shift other than the occupancy? This will be incredibly convenient for guests who had a cruise booked in 2020 but have so far been unable or unwilling to use their future cruise credit as it was set to expire on January 31. Future Cruise Credit can be applied towards any Norwegian Cruise Line voyage from October 1, 2020 through December 31, 2022. Hi, everyone. Right now, many people are receiving Future Cruise Credits because the cruise they were supposed to sail on was cancelled due to unprecedented circumstances. The cruise line has extended this period again; FCCs are now valid through December 31, 2022. Hotel purchased through Norwegian Cruise Line Adjusted EBITDA was nearly $40 million higher than our guidance at approximately $234 million in the quarter. We're on that journey. Hey, guys, good morning. So, now I'll turn the call over to Harry, who will be tasked with delivering on the significant potential upside we see ahead, to provide an update on the current environment and the key catalyst we have in the horizon. But, Frank, you took me under your wings early in my career, and it taught me so much over the last three decades. Yeah. Have you qualified for a future cruise credit but aren't sure how to use it? I'm joined today by Frank del Rio, president and chief executive officer of Norwegian Cruise Line Holdings; Harry Sommer, president and CEO-elect of Norwegian Cruise Line Holdings; and Mark Kempa, executive vice president and chief financial officer. So, I won't give too much color on that, but other than we're exactly in the position we need -- where we need to be. So, are you basically booked above that right now, and then, as you get closer in, you know, the trends kind of soften a little bit? My Future Cruise Credit is provided and supported globally by International Cruise & Excursion Gallery, Inc., I.C.E Europe Ltd., I.C.E Vacations Asia Pacific PTY LTD, and ICE Vacation Center India Private Limited. On March 29, Norwegian Jewel will return to operations from Civitavecchia near Rome, in Italy. French Have comfort in knowing that we are Future Cruise Credit Experts and our specialised team will assist you along the whole way, You will have a full selection of sailings available from all major cruise lines alongside beautiful destinations to explore, Proud to be globally recognised and accredited agent. But it's a bit early for us to give additional color on that. India: ICE Vacation Center India (ICE). We'll send you a weekly newsletter to your inbox. Mesmerising beach & city stays in over 200,000 hotel & resort properties worldwide. Check out the following tips. Exclusions may apply, but are not limited to, one of the following: An FCC has been fully or partially transferred. Can you kind of help us understand why that's different now? Our Peace of Mind policy applied to all sailings through and including May 31, 2022, guests were free to cancel up to and including January 31, 2022. And we simply executed some of those initiatives quicker than we had anticipated. Hongkong So, that's expected to provide a meaningful boost to our current and future earnings power. Water/soda packages Future Cruise Credits are issued by the Cruise Lines for various reasons. California Seller of Travel CST#2066521-50; Washington UBI #602 443 155 001 0001; Hawaii Travel Agent TAR #5192; Florida Seller of Travel #29452. Listen, I think there's still a little rebuilding that can be done in Q1. New hardware introductions generate excitement from those new to cruise and new to brand, as well as with our loyal past guests. And I see no risk around that because there's just simply not an opportunity for the institutions to do that. We are implementing solutions for efficiency today; innovating for future solutions, including with our investment to modify two of our future newbuilds to create methanol-ready configurations; and are committed to collaborating with our stakeholders and partners along the way. NCL Future Cruise Credits are non-refundable. Good morning, and welcome to the Norwegian Cruise Line Holdings first quarter 2023 earnings conference call. Will out of pocket costs (including items such as individually purchased air) incurred as a result of this cancellation be reimbursed? The FCC is applied to an active and existing reservation. During the quarter, gross onboard revenue per passenger cruise day was nearly 30% higher than the comparable 2019 period. Can I use My Future Cruise Credit to upgrade my cabin? And there's two choices. The two ships that will signal the moment when the entire Norwegian Cruise Line fleet is operational again are Norwegian Sun and Norwegian Spirit. Once the transfer takes place, the receiving guest is now the owner and the previous owner cannot request a transfer back. Effective May 18, 2020, FCCs from either our 2020 Suspended Sailings or Peace of Mind FCC are transferable. Focusing on the top line, total revenue per passenger cruise day in the quarter was up approximately 18% versus 2019. One of the drivers of growth this year is going to be our robust newbuild platform with us taking delivery of three new, and I might be biased, but I'm going to add, absolutely magnificent ships this year, including the incredible Vista, which starts sailing tomorrow. We can do better than that going forward when we have the more advanced lead time we need to book some of our exotic itineraries and also have the fully -- the overhang of the difficult years that we've talked about beforehand. For additional information, please visit www.ncl.com/travel-requirements-by-country. which gives us confidence that we can achieve this sequential improvement in year over-year-growth. And I think we've demonstrated that in Q1. So, I think Q2 to Q4 basically represents what we're going to see in future periods as well. United Kingdom Norwegian's Future Cruise Credit (FCC) is credit that you can use for your next Norwegian cruise. We'll be taking delivery of a ship in the third quarter and fourth quarter. W9 Tax document form. https://www.ncl.com/about/cancellation-fee-schedule. Learn More, Norwegian Cruise Line(NCLH 8.91%)Q12023 Earnings CallMay 01, 2023, 10:00 a.m. And as I said in my prepared remarks, the second half of 2023 is expected and we continue to expect very strong pricing and yield growth. Go to the "My Account" section of MyNCL, and you'll see your available FCCs in the My Coupons & Credits section. We make sure cruisers are fully prepared for their cruise vacation with tips on ships and ports. Norwegian Cruise Line has extended its Future Cruise Credit (FCCs) booked by date until the end of the year. Millions of travelers rely on Cruise Hive in the United States, Europe, Australia, and around the world. It has a monetary amount associated with it, and it is provided in lieu of a refund. Below are instructions and frequently asked questions for redeeming and using your Future Cruise Credits. If I already have another cruise booked can I use My Future Cruise Credit against my existing one? I know the 1.2 billion are for those ships that are a couple of years out, is the additional 500 million euros, is that for 2023 specifically? Whats the difference between my Future Cruise Credit, a future cruise program and onboard credit? It has a monetary amount associated with it, and it is provided instead of a refund. It's definitely favorable terms. So, there's always going to be some puts and takes until when you actually purchase the flight where you may have some variability in there. Please proceed with your questions.

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