Norwegian Cruise Line Holdings (NCLH) has described 2023 as a “momentous year of growth and achievement” after its three brands posted “exceptional” demand across all markets

In a recent trading update covering last year, NCLH saw bookings and pricing for its namesake brand remain at higher levels than 2023 for all four quarters of 2024.

Oceania Cruises and Regent Seven Seas Cruises, meanwhile, also saw strong demand across all geographies with the exception of redeployed itineraries due to cancellations in the Middle East and Red Sea.

“Norwegian Cruise Line Holdings experienced a momentous year of growth and achievement in 2023,” said NCLH president and chief executive officer Harry Sommer.

Last year, NCLH took delivery of three new ships – Oceania Cruises’ Vista, Norwegian’s Viva and Regent’s Seven Seas Grandeur, representing the most deliveries in a single year in the company’s 57-year history.

“Looking ahead, we are determined to capitalise on our recent achievements and take advantage of the positive momentum and strong demand for cruise which resulted in turning the year at all-time highs in both our booked position and pricing,” Sommer added.

“Our team is looking forward to showcasing our world-class fleet, delivering exceptional experiences, and surpassing the expectations of the guests we will welcome on board in 2024 and beyond.”

NCLH generates $8.5 billion in revenue; up 32% on 2019

In 2023, NCLH generated a total revenue of $8.5 billion, representing a 32% increase compared to the same period in 2019, with net income reaching $166.2 million.

Occupancy was 102.9% for the year and total revenue per passenger cruise day increased by around 17% compared to the same period in 2019.

Looking ahead to 2024, the conglomerate entered the year at an “all-time high” booked position and pricing, with onboard passenger spend up 20% in the last quarter of 2023 compared to 2019.

As a result of the ongoing conflict in Israel and the Red Sea, the company cancelled and redirected all calls to the region during the fourth quarter of 2023. As a result, occupancy was 99.2% for the fourth quarter of 2023, and full year occupancy was 102.9%.

Additionally, all calls to Israel and the Red Sea have been cancelled and redirected for the entirety of 2024. Prior to the conflict, approximately 7% of the capacity in the fourth quarter of 2023 and 4% of capacity for the full year 2024 expected to visit the Middle East.

Prior to the recent cancellations, approximately 1% of 2024 capacity was expected to sail through the Red Sea.