Lindblad Expeditions, the lised US based expedition cruise and travel company, has reported a sharp fall in net profit for the first three months of the year due to technical problems that forced the company to cancel cruises..
Net profit dived to $0.6 million from $10.5 million in the same period last year, while revenues rose slightly, to $63.1 million from $61.6 million.
The increase in revenues was primarily due to contributions from Natural Habitat, which was acquired in May 2016, mostly offset by lower Lindblad segment revenues due in large part to an estimated $9.1 million impact from voyage cancellations.
“These voyage cancellations included four highly booked expeditions on the National Geographic Orion to repair the engine and the cancellation of two highly booked expeditions on the National Geographic Sea Lion to repair the air conditioning system. Excluding the impact of these voyage cancellations, the Company estimates that total Company tour revenue would have increased 17% to $72.3 million,” Lindblad said in a statement.
The company forecast full year revenues to grow by 14% to 16% to up to $281 million and EBITDA to rise between 12% and 17% to up to $49 million.
“This outlook includes the estimated $9.1 million revenue impact and estimated $6.5 million adjusted EBITDA impact associated with the cancellation of four voyages on the National Geographic Orion and two voyages on the National Geographic Sea Lion for necessary repairs, Lindblad said.
As of 1 May 1, the Lindblad segment had 92% of full year 2017 projected guest ticket revenues on the books versus 93% of full year 2016 revenue at the same time last year. The Company also continues to anticipate it will achieve its long-range revenue and adjusted EBITDA targets, it added.
Princess Cruises today announced the addition of two 14-night Grand Asia voyages sailing between Shanghai and Singapore on the fleet’s newest ship, Majestic Princess.
Available to guests throughout the world, these sailings will visit Japan, South Korea, Vietnam and Thailand in 2018, including spending more time ashore on the late night call in Hong Kong. The first voyage departs Shanghai on February 25, 2018, with the second departing Singapore on March 11, 2018.
“Based on the response we received during Majestic Princess’ recent maiden cruise, we are confident she has redefined the international, luxury cruising experience,” said Jan Swartz, Group President of Princess Cruises and Carnival Australia, “We are thrilled to open up the opportunity for other guests to experience our newest flagship in our fleet.”
Among the exceptional venue designs, amenities and entertainment experiences, Majestic Princess features two new restaurant concepts, La Mer and Harmony. La Mer offers an authentic yet updated Parisian bistro experience with a fine dining dinner menu featuring authentic French cuisine made unique with modern twists by three Michelin-star chef Emmanuel Renaut. Harmony is a specialty restaurant with modern décor and a sophisticated Cantonese dinner menu designed by Michelin-star chef Richard Chen. Together, these two venues present guests with exceptional French and Chinese dining experiences.
In addition, guests on board also have the opportunity to taste Gong Cha, the Chinese-style bubble milk tea, the authentic American steakhouse experience of Crown Grill familiar across the global fleet, Lobster Grill and Dim Sum Bar as well as Alfredo’s featuring “The Best Pizza at Sea.”
Additionally, The Shops of Princess features the highest quality products direct from the brand’s manufacturers including luxury brands like Bulgari, Cartier, Chopard and EFFY.
On May 21, Majestic Princess will embark on the “Silk Road Sea Route” a 49-day journey from Rome to Shanghai. During the voyage she will visit a total of 22 ports including Athens, Dubai, Cochin, Singapore, Port Klang and Xiamen before arriving in Shanghai, her new homeport in China. Majestic Princess will begin her first cruise from China on July 11 carrying 3,560 guests to a variety of cruise destinations.
Norwegian Cruise Line Holdings Ltd. today announced the launch of a new partnership with Alibaba Group, the world’s largest online and mobile commerce company.
"The two companies will leverage Norwegian’s expertise in providing exceptional vacation experiences and its innovative and award-winning cruise offerings along with Alibaba’s unparalleled insights into the wants and needs of the Chinese consumer to deliver the cruise industry’s most-customized product for the local China market. Utilizing Alibaba’s expansive ecosystem for engaging consumers, the two companies will look to further increase the awareness in China of the unique offerings of a cruise vacation. They plan to make it the preferred vacation choice among Chinese travelers in what is forecasted to become the cruise industry’s second-largest source market. The companies will also collaborate to provide Alibaba customers with new and unique online-to-offline (O2O) experiences at sea across Norwegian’s China-based and global fleet," NCLH said in a statement.
The announcement comes as Norwegian prepares to enter the Chinese cruise market in June 2017 with the introduction of its most innovative ship to date – the 3,850-passenger Norwegian Joy - the first premium cruise ship designed and constructed specifically for Chinese travelers. Norwegian Joy will be the 25th ship in Norwegian’s fleet across its three brands - Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises.
"We are pleased to partner with Norwegian Cruise Line on this tremendous initiative,” said Michael Evans, President of Alibaba Group. “Our expanded relationship is another example of how Alibaba is helping international brands to reach Chinese consumers through our robust data, marketing and technology. We look forward to further strengthening our collaboration with Norwegian in the future.”
Alibaba operates the world’s largest online and mobile marketplaces. Alibaba is much more than an e-commerce company, offering a wide range of products and services to its nearly half billion monthly active users. In China, people live, work and play on Alibaba, buying local and overseas products, and enjoying its entertainment and lifestyle services – travel, food delivery and social networking.
"Since launching our first cruise over 50 years ago, Norwegian has grown to become one of the most storied names in leisure travel with groundbreaking innovations that have shaped the modern cruise industry," said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings. "Our partnership with Alibaba will combine Norwegian's history of innovation in the cruise industry and our entry into the Chinese cruise market with Norwegian Joy with Alibaba's extensive knowledge of China's consumer base and its unique ecosystem which continually reaches consumers in new and ever-expanding ways."
“The partnership with Alibaba complements our strong, existing relationships with our loyal travel agents to provide unmatched insight into what Chinese travelers look for in a vacation experience,” said David Herrera, President, NCLH China. “The combination of Norwegian’s expertise in delivering memorable vacation experiences, Alibaba’s insights into Chinese consumer behavior and our travel agents’ knowledge of the preferences of Chinese travelers will create a cruise product unequaled in China.”
Norwegian took delivery of Norwegian Joy on April 27, after which the ship began her repositioning from the shipyard in Germany to her home port of Shanghai. Her inaugural and christening gala ceremony will take place on June 27 in Shanghai, featuring the ship’s Godfather, ‘King of Chinese Pop’, Wang Leehom.