Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest listed cruise shipping group, said it expects adjusted EBITDA is in the range of $1.80 to $1.95 billion this year as its capacity is expected to increase approximately 19% compared to 2019 including the delivery of three newbuildings.

“Net Per Diem is expected to increase in the range of 8.75 to 10.25% as-reported and 9.00 to 10.50% in Constant Currency versus 2019. Net Yield is expected to increase in the range of 4.75 to 6.25% as-reported and 5.00 to 6.50% in Constant currency,” NCLH said in a statement

NCLH entered the year with a record cumulative booked position of approximately 62% for full year 2023, in line with previously outlined expectations and within the Company’s optimal 60 to 65% range, and at higher prices than 2019 at a similar point in time.

“Booking volumes have accelerated in recent months buoyed by strong WAVE season demand. The Company’s brands achieved several booking records in recent months including at Norwegian Cruise Line, which reached an all-time record booking month in November, boosted by Black Friday and Cyber Monday, which was subsequently exceeded in January 2023,” NCLH said.

“As a result, full year 2023 cumulative booked position is ahead of 2019 levels inclusive of the Company’s approximately 19% increase in capacity, at continued higher pricing. Net booking volumes continue to be at the pace needed to reach historical Occupancy levels for the second quarter of 2023 and beyond,” NCLH stated.    

At the end of 2022, the group’s advance ticket sales balance, including the long-term portion, was $2.7 billion, approximately 9% higher than the prior quarter and approximately 30% greater than at year-end 2019. “This includes approximately $144 million of FCCs (future cruise credits) or approximately 5% of the total deposit balance. Approximately 40% of the FCC balance outstanding has been applied to future sailings,” NC:H said.