Century Cruises opens new office in South Florida

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 28 May 2025 28 May 2025

Century Cruises, originally renowned for its voyages along China's Yangtze River, has announced the opening of its new North American office in Sunrise, Florida, near the heart of Miami and Fort Lauderdale – one of the world's premier cruise industry hubs.

Strategically located at Lake Shore Plaza II, the new office reflects Century Cruises' commitment to expanding its global presence and supporting the North American market. With close proximity to major cruise trade shows such as Seatrade Cruise Global and CLIA Cruise360, this new facility will serve as a center for economic growth and collaboration across the cruise sector.

The South Florida area office will house the Reservations, Sales, MICE and Marketing departments. These experienced teams will enhance service to travel agency partners and clients throughout North America by ensuring quicker response times and improved access to Century Cruises' luxury cruise offerings.

"Our new office in Miami, FL marks an exciting milestone for the Century Cruises (http://www.centurycruise.com/) brand," said David Fredericks, Senior Vice President of Sales and Marketing. "This cutting-edge workspace helps us build deeper, more meaningful relationships with our Valued travel partners & customers across North America."

Purpose-built with expansion in mind, the state-of-the-art facility will also create new job opportunities for South Florida's professional community.

To celebrate the grand opening, Century Cruises will host an Open House on June 18, 2025, from 11:30 AM to 3:00 PM. Local professionals, media, and community members are invited to tour the new space and connect with company leadership and staff during a dedicated networking session.

StarCruises extends Hong Kong sailings until mid-November

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 20 May 2025 20 May 2025

StarCruises announced today at a press conference the much-anticipated homeport deployment of the Star Voyager cruise ship in Hong Kong, set to begin this summer on 27 June 2025. Star Voyager will set sail from the heart of the city, marking a major milestone in the brand’s return to the region.

Following the positive response to its previously announced deployment through the end of August, Star Voyager will extend its Hong Kong deployment for an additional 11 weeks, covering the autumn season with departures now scheduled until 14 November 2025.

Full details of the itineraries for this extended period will be made available by the end of May. Travellers can embark the Star Voyager directly from Hong Kong’s Ocean Terminal, a centrally located departure point with excellent transportation links and close proximity to the city's top attractions and shopping districts.

The Star Voyager will offer 2, 3 and 5 Night Cruise options, whisking passengers away to the popular destinations of Okinawa (Naha and Ishigaki) in Japan, as well as to Keelung, Kaohsiung and Penghu in Taiwan. The deployment from summer through autumn provides more vacation choices for Hong Kong residents and enhances the appeal of the Fly and Rail Cruise market. International travellers can enjoy the added convenience of a pre- or post- cruise stay in Hong Kong.

Additionally, the return of the popular 2 Night Weekend High Seas Cruise, departing every Friday, offers the perfect short escape for those seeking a relaxing sea-cation.

“Under the new StarCruises brand, we are thrilled to introduce our latest cruise ship, the Star Voyager, and to have her homeport in Hong Kong—a city with a long-standing history and strong connection to our brand,” said Michael Goh, President of StarDream Cruises.

“With the support of the Hong Kong SAR Government and the Hong Kong Tourism Board, we are confident that we will invigorate the local cruise industry, boost the Fly cruise and Rail cruise sectors, and meet the growing demand for exciting summer vacations.”

Dane Cheng, Hong Kong Tourism Board (HKTB) Executive Director, said, “We are excited to welcome the return of StarCruises and the maiden homeport deployment of Star Voyager in Hong Kong. StarCruises is an established cruise brand in Asia’s cruise market, cherished by many cruise travellers in Hong Kong and in the region. HKTB will continue to collaborate closely with StarCruises and other cruise lines to attract more visitors and drive the continuous development of Hong Kong as the Asia’s cruise hub.”

Viking reports first quarter 2025 financial results

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 20 May 2025 20 May 2025

Viking Holdings Ltd today reported financial results for the first quarter ended March 31, 2025.

Key highlights

– Total revenue was $897.1 million for the first quarter of 2025, an increase of 24.9% compared to the same period in 2024.
– Gross margin increased 53.9% and Adjusted Gross Margin increased 23.8% compared to the same period in 2024.
– Net Yield was $544, an increase of 7.1% compared to the same period in 2024.
– Adjusted EBITDA was $72.8 million, an increase of $77.3 million compared to the same period in 2024.
– Diluted EPS was $(0.24) and Adjusted EPS was $(0.24).
– Net Leverage improved from 2.4x as of December 31, 2024 to 2.0x as of March 31, 2025.
– As of May 11, 2025, for its Core Products, Viking had sold 92% of its Capacity Passenger Cruise Days for the 2025 season and 37% of its Capacity Passenger Cruise Days for the 2026 season.

"Viking is off to a remarkable start in 2025, with our first quarter financial performance underscoring the continued momentum in our business,” said Torstein Hagen, Chairman and CEO of Viking. “During the quarter, we increased capacity by 14.9% and simultaneously delivered a 7.1% growth in Net Yield – clear indicators of the robust demand for meaningful and enriching travel experiences among our core demographic. We are also delighted to have already booked 92% of our capacity for the 2025 season. Looking ahead, we remain firmly focused on generating demand and delivering best-in-class differentiated products through our one Viking brand, which will advance our long-term strategy of thoughtful, sustainable growth."

First quarter 2025 consolidated results

During the first quarter of 2025, Capacity PCDs increased by 14.9% over the same period in 2024. This increase was mainly driven by the addition of two new river vessels and a new ocean ship delivered in 2024. Occupancy for the first quarter of 2025 was 94.5%.

Total revenue for the first quarter of 2025 was $897.1 million, an increase of $178.9 million, or 24.9% over the same period in 2024 mainly driven by increased Capacity PCDs and higher revenue per PCD in 2025 compared to 2024.

Gross margin for the first quarter of 2025 was $245.5 million, an increase of $86.0 million, or 53.9% over the same period in 2024 and Adjusted Gross Margin for the first quarter of 2025 was $613.3 million, an increase of $118.0 million, or 23.8%, over the same period in 2024. Net Yield was $544 for the first quarter, up 7.1% year-over year.

Vessel operating expenses were $309.9 million and vessel operating expenses excluding fuel were $268.2 million. Compared to the same period in 2024, vessel operating expenses increased $28.8 million, or 10.2%, and vessel operating expenses excluding fuel increased $29.2 million, or 12.2% mainly driven by the increase in the size of the Company's fleet in 2025 compared to 2024.

Net loss for the first quarter of 2025 was $105.5 million compared to $490.7 million for the same period in 2024. The first quarter of 2024 includes a loss of $330.5 million related to the net impact of the Private Placement derivative loss and interest expense related to the Company's Series C Preference Shares. These converted into ordinary shares immediately prior to the consummation of the Company’s IPO. Adjusted Net Loss attributable to Viking Holdings Ltd for the first quarter of 2025 was a loss of $105.5 million compared to a loss of $137.9 million for the same period in 2024.

Adjusted EBITDA was $72.8 million, an increase of $77.3 million compared to the first quarter of 2024. The increase in Adjusted EBITDA was mainly driven by increased Capacity PCDs and higher revenue per PCD.

Diluted EPS was $(0.24) and Adjusted EPS was $(0.24) for the first quarter of 2025, compared to Diluted EPS of $(1.20) and Adjusted EPS of $(0.33) for the first quarter of 2024.

Our first quarter results reflect the seasonality of our business. While our ocean, expedition and Mississippi products operate year-round, the primary cruising season for our river product is from April to October.

Update on operating capacity and bookings

For our Core Products, operating capacity is 12% higher for the 2025 season compared to the 2024 season and 8% higher for the 2026 season compared to the 2025 season.

As of May 11, 2025, for our Core Products, we had sold 92% of our Capacity PCDs for the 2025 season and 37% for the 2026 season. We had $5,508 million of Advance Bookings for the 2025 season, 21% higher than the 2024 season at the same point in time; and we had $2,676 million of Advance Bookings for the 2026 season, 11% higher than the 2025 season at the same point in time. Advance Bookings per PCD for the 2025 season was $794, 7% higher than the 2024 season at the same point in time, and Advance Bookings per PCD for the 2026 season was $885, 4% higher than the 2025 season at the same point in time.

“We are seeing sustained strength in demand, with 92% of our 2025 capacity already booked—effectively selling out the year, given our typical load factor,” said Leah Talactac, President and CFO of Viking. “With 2025 now largely secured, our focus has shifted to 2026 where we have a solid foundation with more than 37% of our capacity already sold, positioning us well amid evolving macroeconomic conditions. This performance highlights the strength and resilience of our customer base, the differentiation of our product offering, and the continued impact of our strategic initiatives—including an extended booking window, direct marketing efforts, and a compelling value proposition.”

Balance sheet and liquidity

As of March 31, 2025:

– The Company had $2.8 billion in cash and cash equivalents and an undrawn revolver facility of $375.0 million.
– Scheduled principal payments are $438.7 million for the remainder of 2025 and $216.6 million for 2026. In May 2025, the Company paid $250 million of senior notes at their maturity.
Deferred revenue was $4.8 billion.

Newbuild and capacity

Since our fourth quarter 2024 earnings release, the Company:

– Took delivery of the Viking Nerthus, a river vessel that operates in Europe.
– Exercised its options and entered into shipbuilding contracts for two ocean ships scheduled for delivery in 2031.
– Entered into option agreements for two additional ocean ships which have an exercise date of July 30, 2027, scheduled for delivery in 2033.
– Announced that the Viking Libra, scheduled for delivery in 2026, will be a hydrogen-powered cruise ship, capable of operating with zero emissions.
– Announced it would build an additional river vessel to operate in Portugal scheduled for delivery in 2027.

Based on the committed orderbook, the Company expects to take delivery of one ocean ship and nine river vessels during the remainder of 2025.

Expedia Cruises hosts record-breaking ANCHOR meeting at sea

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 19 May 2025 19 May 2025

The cruise business is continuing its upward trajectory with projected market revenue reaching $44.39 billion in 2025. Expedia Cruises, which is backed by one of the most powerful travel brands in the world, remains a leading force and sets the standard for excellence in the industry. The full-service leisure travel agency recently hosted its highly anticipated 2025 ANCHOR meeting at sea, themed “Stronger than Ever.”

“Our 2025 spring ANCHOR meeting was arguably the largest and most successful one to date,” said Matthew Eichhorst, President of Expedia Cruises. “This year’s theme of ‘Stronger than Ever’ was truly embraced throughout the ship from our franchisees and their Vacation Consultants to our corporate staff and supply partners. Each conference represents a unique moment when our entire industry and system are united in the same space. These conferences are where we drive businesses forward by communicating our strategies, sharing best practices, and building relationships.”

With over 650 attendees including franchisees, Vacation Consultants, supply partners, and corporate team members, the brand set sail aboard the Carnival Celebration from Miami, FL for a seven-night Eastern Caribbean voyage, where participants enjoyed mainstage presentations, workshops, hosted dinners, prizes, and more.

“Expedia Cruises' 2025 ANCHOR was not only very important this year – it was a resounding success,” said John Mast, Senior Director of Marketing and Franchise Development at Expedia Cruises. “Franchisees, Vacation Consultants, travel suppliers, and our corporate support team came together to share insights, learn from one another, and build strategies and relationships to fuel sales growth. Our Stronger.Together culture was shining all week long.”

This year’s ANCHOR centered around a dynamic program designed to keep attendees informed on industry trends, strengthen relationships with peers and partners, and immerse the entire brand network in Expedia Cruises’ vibrant company culture. Through impactful workshops, engaging networking events, and inspiring recognition moments, the conference delivered meaningful experiences that empowered attendees to grow both personally and professionally.

Many franchisees were recognized for opening and acquiring new locations, celebrating milestone anniversaries, achieving or exceeding benchmark goals, having the largest sales transactions in 2024, and excelling in agent recruitment. The three top performing franchisees, both from single-unit and multi-unit operations, were also honored at ANCHOR for their achievements. Additionally, Vacation Consultants were celebrated through the Navigators Club Recognition Program, which acknowledges Consultants for demonstrating exceptional sales and customer service.

While ANCHOR highlighted the travel brand’s outstanding franchisees, Vacation Consultants, supply partners, and corporate team members, Expedia Cruises itself has not gone unnoticed. The brand has received several recognitions including Franchise Business Review’s 2025 Top 200 Franchises, 2025 Top Franchises for Women, and 2024 Top Franchises for Veterans; Expedia Cruises was also ranked on the 2024 Culture100 Awards and was named to Franchise Direct’s 2025 Top 100 Franchises list, further solidifying its reputation as a premier franchise opportunity.

With an unwavering commitment to exceptional customer service, an omnichannel strategy, and a proven franchise model, Expedia Cruises is a leading seller of cruises and vacations in North America. Anchored in their passion and expertise of air, land, and sea vacations, each Expedia Cruises franchise location is a full-service leisure travel agency. Franchisees and their dedicated vacation consultants are experts in booking cruise vacations, all-inclusive resorts, coach and rail tours, vacation packages, homes and villas, travel insurance, flights, hotels, cars, and activities.
Expedia Cruises is currently seeking like-minded team leaders interested in pursuing franchise opportunities.