Crystal unveils the first Casino de Monte-Carlo at sea

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 21 November 2024 21 November 2024

Crystal has debuted the first-ever Casino de Monte-Carlo at sea for guests aboard Crystal Symphony during a special ribbon-cutting ceremony on the first night of the Chairmen’s Cruise in Venice, Italy. The arrival of the new casino follows the announcement of an exclusive collaboration with Monte-Carlo Société des Bains de Mer (SBM), a leader in entertainment, hospitality and gaming. In addition to launching on Crystal Symphony, the upscale casino will soon be unveiled on Crystal Serenity, when she departs from Fort Lauderdale on Dec. 18. The brand’s elevated gaming offerings will also be available on all future oceangoing vessels, excluding expedition ships.

"We could not be prouder to unveil the first-ever Casino de Monte-Carlo at sea aboard Crystal Symphony this week,” said Executive Chairman of A&K Travel Group Manfredi Lefebvre. “There was no better choice for a gaming partner than Monte-Carlo Société des Bains de Mer, founded more than 160 years ago and remains a global leader in the casino industry. I’ve known the team for many years and, like Crystal, they are fully committed to delivering upscale experiences that cater to the discerning tastes of travelers from around the world. The future is bright for both of our brands.”

The new casino is positioned where the Bridge Lounges were once located on each ship. Casino de Monte-Carlo offers guests unparalleled gaming options at sea, including slot machines, Blackjack, American Roulette and Ultimate Texas Hold’em. Measuring more than 1,000 square feet, the casino features 29 slot machines and 3 live tables on Crystal Symphony; while Crystal Serenity will have 32 slot machines and 3 live tables. SBM led the design of the new casinos to mimic the look of the original Le Casino de Monte Carlo. Additionally, guests will have access to Crystal’s premium beverage offerings, including specialty cocktails and a collection of global wines serviced by Avenue Saloon.

“It is a huge pleasure to inaugurate the first Casino de Monte-Carlo ever outside the Principality of Monaco, on Crystal Symphony, and I am very grateful to Crystal for making this dream come true,” said Stéphane Valeri, Chairman and CEO of Monte-Carlo Société des Bains de Mer. “I am truly convinced that the ultimate cruise experience designed by Crystal combined with the Monte-Carlo expertise in gaming will strengthen our brands while creating unique moments. A big thank you to our mutual teams for this exceptional and successful collaboration to be continued, on Crystal Serenity and on new Crystal ships to come.”

Adds Cristina Levis, CEO of A&K Travel Group, “After learning how much our guests missed having gaming options onboard, we knew we could maintain the essence of the previous Crystal casino experience while infusing fresh elements into our brand and finding a partner that would ultimately exceed expectations. We are so proud of what we have accomplished in collaboration with Monte-Carlo Société des Bains de Mer. Like Crystal, the Casino de Monte-Carlo embodies sophistication and attention to detail, and we can’t wait to hear feedback from our guests who have been awaiting this next phase of our journey.”

Viking reports third quarter 2024 financial results

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 20 November 2024 20 November 2024

Viking Holdings Ltd yesterday reported financial results for the third quarter ended September 30, 2024.

Key highlights

– Total revenue for the third quarter of 2024 increased 11.4%, or $171.9 million compared to the same period in 2023.
– Gross margin increased 18.0% and Adjusted Gross Margin increased 12.0% compared to the same period in 2023, resulting in a Net Yield of $576.
– Adjusted EBITDA increased 15.3% compared to the same period in 2023.
– Diluted EPS was $0.86 and Adjusted EPS was $0.89.
– Net Leverage improved from 3.0x as of June 30, 2024 to 2.4x as of September 30, 2024.
– As of November 3, 2024, for its Core Products, Viking had sold 95% of its Capacity Passenger Cruise Days for the 2024 season and 70% for the 2025 season.

“The strength of our one Viking brand and our loyal guests are two key factors that drove our impressive third quarter financial results, positioning us for what looks to be a strong 2024,” said Torstein Hagen, Chairman and CEO of Viking. “With our capacity sold for 2024, our sales and marketing focus has shifted to the upcoming 2025 season and beyond. As we continue to expand our fleet in the coming months and years, we are capitalizing on our own ability to generate demand fueled by our distinctive and well-defined product, strong brand recognition, effective cross-selling practices, and a singular sales and marketing approach.”

Third quarter 2024 consolidated results

During the third quarter of 2024, Capacity PCDs increased by 1.9% over the same period in 2023. Occupancy for the third quarter of 2024 was 94.0%.

Total revenue for the third quarter of 2024 was $1,678.7 million, an increase of $171.9 million, or 11.4% over the same period in 2023 mainly driven by higher revenue per PCD in 2024 compared to 2023.

Gross margin for the third quarter of 2024 was $717.8 million, an increase of $109.3 million, or 18.0%, over the same period in 2023 and Adjusted Gross Margin for the third quarter of 2024 was $1,098.9 million, an increase of $118.1 million, or 12.0%, over the same period in 2023. Net Yield was $576 for the third quarter, up 11.0% year-over year.

For the third quarter of 2024, vessel operating expenses were $329.2 million and vessel operating expenses excluding fuel were $284.8 million. Compared to the same period in 2023, vessel operating expenses increased $11.8 million, or 3.7%, and vessel operating expenses excluding fuel increased $12.1 million, or 4.4% mainly driven by maintenance and repair costs and the increase in the size of the Company's fleet in 2024 compared to 2023.

Net income for the third quarter of 2024 was $374.8 million compared to a net loss of $1,238.2 million for the same period in 2023. The net income for the third quarter of 2024 includes a loss of $18.6 million from the revaluation of warrants issued by the Company due to stock price appreciation. In comparison, the third quarter of 2023 includes a loss of $1,518.5 million from the impact of the Series C Preference Shares and an additional $72.7 million loss due to the revaluation of warrants issued by the Company. The Company’s Series C Preference Shares converted into ordinary shares immediately prior to the consummation of the Company’s IPO. The second quarter of 2024 was the final quarterly period for which the financial results included Private Placement derivative loss and interest expense related to the Series C Preference Shares. Adjusted Net Income attributable to Viking Holdings Ltd for the third quarter of 2024 was $393.6 million.

Adjusted EBITDA increased by $73.6 million compared to the third quarter of 2023. The increase in Adjusted EBITDA was mainly driven by higher revenue per PCD.

Diluted EPS was $0.86 and Adjusted EPS was $0.89 for the third quarter of 2024.

“We have already sold 70% of the capacity PCDs for our Core Products for 2025, with both volume and rates exceeding those for the 2024 season at the same point in time. As we continue to deliver strong financial results, we remain equally committed to providing unforgettable experiences for our guests,” said Leah Talactac, CFO of Viking. “Our focus on excellence creates lasting memories that inspire our guests to return and sail with us time and again. In addition, our efficiently designed ships lead to strong margins. This balance is key to our long-term success and sustainable growth.”

Update on operating capacity and bookings

For our Core Products, operating capacity is 5% higher for the 2024 season compared to the 2023 season and 12% higher for the 2025 season compared to the 2024 season.

As of November 3, 2024, for our Core Products, we had sold 95% of our Capacity PCDs for the 2024 season and 70% for the 2025 season. We had $4,633 million of Advance Bookings for the 2024 season, 14% higher than the 2023 season at the same point in time; and we had $4,329 million of Advance Bookings for the 2025 season, 26% higher than the 2024 season at the same point in time. Advance Bookings per PCD for the 2024 season was $727, 8% higher than the 2023 season at the same point in time, and Advance Bookings per PCD for the 2025 season was $820, 7% higher than the 2024 season at the same point in time.

Balance sheet and liquidity

As of September 30, 2024:

– The Company had $2.4 billion in cash and cash equivalents and an undrawn revolver facility of $375.0 million.
– The scheduled principal payments were $52.7 million for the remainder of 2024 and $461.9 million for 2025.
– Deferred revenue was $4.0 billion.

New build and capacity

During October 2024, the Company:

– Took delivery of the Viking Sobek, a river vessel that will operate in Egypt.
– Exercised its options for ship XIX and ship XX, which are both scheduled for delivery in 2030 and are subject to certain financing and other conditions.
– Entered into option agreements for four additional ocean ships, two of which have an exercise date of October 30, 2025, for delivery in 2031 and two of which have an exercise date of July 31, 2026, for delivery in 2032.
– Based on the committed orderbook, the Company expects to take delivery of one ocean ship later this year.

HX launches program with university to educate Antarctic passengers

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 15 November 2024 15 November 2024

HX, ormerly known as Hurtigruten Expeditions, has announced a pioneering global partnership with the University of Tasmania and its Institute for Marine and Antarctic Studies (IMAS).

This collaboration marks a significant milestone for both HX and the University as it brings together one of the world's oldest and leading expedition companies and a globally renowned education and research institute with a focus on Antarctic and polar studies.

For the first time, HX’s guests and expedition teams will have the unique opportunity to explore Antarctic and polar science with world-leading researchers, in a university-developed program that blends immersive learning with real-world experiences – with the online course being able to be accessed anywhere in the world.

Participants will experience an enriched journey through the wonders of the polar region of Antarctica and upon completion, both guests and expedition staff will receive an official University of Tasmania certificate.

A unique, strategic partnership

The University of Tasmania is based in Hobart, Australia, and is home to IMAS. IMAS is recognised as a center of excellence for marine and Antarctic research, leading ground-breaking studies across scientific and social science boundaries. Their work is dedicated to enhancing environmental understanding and driving sustainable development worldwide.

HX and the University have worked together for four years, laying the groundwork for this strategic collaboration. Their relationship aligns with the Tasmanian T2030 Visitor Economy Strategy, which seeks to encourage tourism that provides benefits to the regions that the university operates within. It also aligns with the T2030 mandate to foster collaboration between organisations such as Tourism Tasmania, the Tasmania Parks and Wildlife Service and the tourism industry, to ensure a sustainable tourism industry in Tasmania and its Sub-Antarctic Islands.

HX has hosted over 30 scientists and UTAS-related university students on polar expeditions over the last three years to work on scientific and social science projects. This is part of HX’s ongoing science support program that provides over 1,800 free cabin and cruise nights to scientists and research students each year, an initiative that’s part of the expedition company’s ongoing and significant focus on sustainability.

Guest and staff educational program

As part of this partnership, the University and HX will launch this education program to both guests and staff starting in the late 2024 season.

The program will offer a unique educational journey – from Antarctica’s fascinating history and the science of polar regions to responsible tourism and Antarctic governance. Topics include:

1: The human history of Antarctica
2: Who owns Antarctica? The Antarctic Treaty System
3: The Southern Ocean
4: Ice core studies
5: Wildlife and ecological communities
6: Climate change
7: Citizen science

The program named ‘The HX Pre-Departure Course’ has been designed and developed by leading academics from the University and IMAS as well as guest collaborators, ensuring participants gain cutting-edge insights into the fascinating polar world. It will be delivered through a specially developed syllabus of engaging content, including online seminars, interviews and live Q&A sessions, available before, during or after the physical HX journeys.

Benefits for guests and HX expedition staff

Speaking about the partnership, Dr Verena Meraldi, HX’s Chief Scientist said: “For HX guests, this collaboration offers a world first for our industry and a market-leading program that will enrich their travel experience with knowledge, scientific education, and inspiration.

“We have carefully curated the syllabus, optimised for curious travelers – who do not just want to explore but want to take that knowledge further and hopefully use that as a force for good for the future.

“This new program will ensure our guests gain a deeper understanding of the regions they explore – and an official University Certificate to mark their learning journey.”

The short but detailed course (which is roughly 4-hours of content) will also be available to HX staff, providing access to and the benefits of learning from experts sharing contemporary knowledge of Antarctica.

HX is the only expedition cruise company in this sector to offer their staff access to a tailored education experience, developed by a world leader in Antarctic and polar education.

A new chapter in mindful expedition travel

HX’s VP Sustainability, Guest Learning and Industry Relations, Tudor Morgan, who is also a world-leading expert in Antarctica, said the partnership was a testament to HX’s commitment to delivering unique and enriching experiences for guests, while empowering their expedition teams with unparalleled knowledge and training.

“Together with the University of Tasmania, we are breaking new ground in expedition travel, offering scientific educational opportunities that are truly transformative and based in ocean conservation.

“This collaboration represents a bold step forward in bridging the worlds of exploration and academia, offering travelers and professionals alike an opportunity to deepen their understanding of the polar regions, while contributing to their academic and personal growth.”

University of Tasmania’s Acting Executive Dean of the College of Sciences and Engineering, Dr Angela Castles, expressed her enthusiasm for the initiative.

"The University of Tasmania is thrilled to work with HX in this pioneering initiative. We’re combining world-class education with an unparalleled opportunity to explore the polar regions, all while contributing to the understanding of crucial environmental challenges.

"This partnership is a natural extension of our focus on sustainability, climate and marine science. We look forward to seeing both guests and HX staff deepen their knowledge of the Antarctic and make meaningful contributions to scientific research.

"This collaboration highlights the University of Tasmania's commitment to connecting research with real-world experiences. Through this program, we’re giving both guests and expedition teams the opportunity to immerse themselves in the Antarctic environment while advancing their learning journey."

In their personal itineraries, HX guests will be able to find out more about the program, which will launch as a pilot program later this month on the 27th November 2024 - it is sent to travelers 60 days before departure. This short course will be free for HX guests travelling to Antarctica.

Celestyal to add 47 additional cabins to Celestyal Discovery, increasing cabin count by 7.4%

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Written by Teijo Niemelä Teijo Niemelä

Category: More News More News

Published: 15 November 2024 15 November 2024

Celestyal has announced a new investment in its fleet with the latest refurbishment plans for the company’s newest ship, Celestyal Discovery. The refurbishments include the introduction of 47 additional cabins, increasing the total number of cabins by 7.4%, reaching 680 cabins.

The new rooms will include two Grand Horizon Suites with large balconies and a unique location above the bridge. These suites will have a new design style that will vary with the home ports each season. There will also be 30 new Junior Dream Suites added, a new category of cabin on the ship, and 15 spacious interior cabins called Cosmos Cabins.

Following the example of its sister ship, Celestyal Discovery will feature the Smoked Olive restaurant as an exclusive dining space for all guests in suites. The refurbishment will also include an additional pop-up style restaurant with a private reservable area, offering high-end regional cuisine inspired by the destinations on the ship’s itinerary.

In recognition of the increase in premium cabins, the company has also announced a significant enhancement to the premium cabin offering across its fleet. In addition to priority check-in, benefits now include a host of amenities such as a Sail Away welcome party for all balcony and suite guests, a pillow menu, daily cocktails at special times and exclusive access to the private Ray’s Sundeck and Cabanas, exclusive to ‘Grand Dream’ and ‘Grand Horizon’ Suites guests. On Celestyal Journey, Grand Suites guests will also receive complimentary access to the Thermal Spa Suite, which includes a private Jacuzzi, steam room, sauna and a private relaxation area. ‘Stargazer Penthouse Suite’ guests will also enjoy an in-suite bottomless minibar.

Anna Gregori, Vice President, Brand, Marketing, Communications and Customer Experience at Celestyal, commented: “Following the extensive refurbishment of Celestyal Discovery in early 2024, this latest refurbishment reinforces our commitment to constantly evolving our guest experience and delivering added value. The addition of new premium cabins, including our stunning Grand Horizon Suites and a wide range of balcony and suite benefits, provides our guests with even more comfort and choice as they explore the incredible destinations we visit.”

All upgrades will be available on Celestyal Discovery from April 2025 and the new cabins will be on sale from December 10, 2024. The 3-night Iconic Aegean cruise sets sail from Athens on November 21, 2025, with calls in Mykonos, Kusadasi, Patmos and Santorini. Prices start from €309 per person for a Cosmos Inside Stateroom, €689 per person for a Balcony Stateroom, and €1,009 per person for a Grand Dream Suite, according to the company's current promotional offers, valid until November 24, 2024.

Celestyal Discovery underwent a multi-million-dollar refurbishment in Greece following its acquisition in November 2023. The company invested in the common areas on board, in addition to the complete renovation of the staterooms and the addition of a new coffee bar, Café Nation, as well as the Pizza Oven pizzeria and the Discovery Lounge.

Photo: Celestyal operates two vessels, Discovery and Journeys