Norwegian Cruise Line Enhances Guest Experiences with New Ships and Private Island Pier

Norwegian Cruise Line Holdings Ltd. (NCLH) is embarking on a transformative journey with a series of strategic expansions and upgrades that promise to redefine the cruising experience for travelers. At the heart of this ambitious plan is the construction of a multi-ship pier at Great Stirrup Cay, NCLH's privately-owned island in the Bahamas, which is poised to elevate the guest experience to new heights. Scheduled to break ground in summer 2024 and expected to be completed by late 2025, this project involves an investment of approximately $150 million and aims to accommodate two large vessels simultaneously. This initiative not only speaks to the company's dedication to enhancing guest satisfaction but also underscores its commitment to offering world-class destinations in the Eastern and Western Caribbean.

In the realm of fleet expansion, NCLH has unveiled the most comprehensive new-build order in its history, signaling a decade-long strategy aimed at bolstering its operational infrastructure, product offering, and guest experiences. This plan includes the introduction of eight state-of-the-art vessels across NCLH’s three award-winning brands – Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. These ships, which represent nearly 25,000 additional berths, are scheduled for delivery over a span of ten years, from 2026 to 2036. Highlighting the diversity and innovation at the heart of this expansion, the new vessels will range from the Prima-Plus class ships, expected to launch between 2025 and 2028, to the groundbreaking 200,000-gross-ton ships for Norwegian Cruise Line, set to debut between 2030 and 2036.

The strategic partnership with the Italian shipbuilder Fincantieri is a cornerstone of this expansion, enabling the design and construction of the largest, most efficient, and most innovative vessels in each brand’s fleet. These ships are anticipated to set new benchmarks in luxury, sustainability, and guest satisfaction, furthering NCLH’s journey toward decarbonization. Such advancements are pivotal for the cruise line industry, aligning with broader environmental goals while ensuring that passengers enjoy unparalleled levels of comfort and innovation.

Financially, the new-ship order and pier development reflect NCLH’s robust growth strategy and its commitment to enhancing shareholder value. By securing favorable payment structures and export credit financing, NCLH is positioned to sustain its growth trajectory and continue reducing net leverage in the forthcoming years. These strategic investments underscore the company's focus on not only elevating the guest experience but also on achieving long-term financial health and operational efficiency.

The announcement of these ambitious expansions by NCLH marks a significant milestone in the company’s history and sets the stage for a new era in the cruising industry. With a focus on innovation, sustainability, and guest satisfaction, NCLH is poised to offer its passengers truly transformative travel experiences. The construction of the new pier at Great Stirrup Cay, coupled with the introduction of next-generation vessels, will provide cruisers with unparalleled access to some of the world’s most captivating destinations, all while enjoying the luxurious, high-quality service synonymous with NCLH's brands.