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When the line changed hands in 2008, Prestige Cruises International, Inc. established as an umbrella company for Regent and Oceania. Prestige was eventually purchased by NCLH in 2014, bringing Regent into the Norwegian family of cruise lines. Founded in 2002 by Frank Del Rio, former president and CEO of NCLH, Oceania Cruises is a luxury line that is a bit more affordable than some other luxury brands because it doesn’t include as many amenities in its fares. However, it is essential for Norwegian Cruise Line to strike a balance between satisfying the interests of shareholders and pursuing long-term sustainability and growth. This balance ensures that the company upholds its commitment to delivering exceptional guest experiences while maximizing shareholder value.
Genting Hong Kong Limited (GTHKF): Tan Sri Lim Kok Thay, chairman and CEO; Hong Kong
In this role, he oversaw the organization’s consumer advertising and promotional strategy as well as direct outbound and online sales channels. In January 2013, we completed our initial public offering and listed on the NASDAQ stock exchange, trading under the ticker symbol “NCLH”. Post-IPO, all three sponsors sold down their stakes and exited their long-term investments by year-end 2018. In August 2007, we sold a 50 percent ownership stake in Norwegian Cruise Line to private equity groups Apollo Management, LP and TPG Capital for a $1 billion cash equity investment. The first purpose-built Freestyle Cruising® ship was built in 2001 and due to the company’s unique capability to deliver this product offering and its tremendous success, all newbuilds since have been purpose-built for Freestyle Cruising®. Norwegians's second and third ship, the Starward and Skyward, were the first newly built ships designed for the cruise line.[5] Like the original Sunward of 1966, they had the capability to carry automobiles through a well-concealed stern door.
Who owns Norwegian Cruise Line? Here’s who owns NCL and its two sister brands
Before joining NCL, Byrd served as a Sales Coach and Team Leader at Carnival Cruise Lines where she oversaw Outbound Consumer Sales. Prior to that role, Byrd was director of sales and marketing with Global Rent-A-Car where she was responsible for Latin America sales and marketing. With its rich history of innovation and a commitment to providing exceptional guest experiences, Norwegian Cruise Line has firmly established itself as a global leader in the cruise industry.
Oceania Cruises
He assumes responsibility for the Brand’s business outside of North America, overseeing the company's 11 international offices in Asia-Pacific, Europe, Latin-America, and Brazil. With a special focus on expanding the Brand's international footprint by optimizing collaboration between regions, surfacing new sales opportunities, and driving impactful through-the-line campaigns. Most recently he served as the Brand’s Chief Sales and Marketing Officer for Norwegian Cruise Line, responsible for driving demand and global market share across the Company’s key global source markets.
Norwegian Cruise Line Holdings
In 2019, he joined NCLH as a Sales Manager before being promoted to Director and Senior Director, and now Vice President, in less than five years within the CM&I division. Under his leadership at NCLH, the Company expanded the variety of events hosted on board including for the first time partnering with the Rugby World Cup and NurseCon. In November 2014, Chad Berkshire assumed the role of senior vice president of revenue management, leading Norwegian Cruise Line’s global cruise revenue, product pricing and yield management. During this time, he was instrumental in leading the Company’s strategy of focusing on value over price with the introduction and growth of Norwegian’s highly successful Free at Sea promotion. In addition to his role at Norwegian Cruise Line, Sommer also assumed oversight responsibilities in January 2023 for all of the Company’s other revenue generating functional areas which included Oceania Cruises, Regent Seven Seas Cruises and the tri-branded Onboard Revenue department. Throughout its rich history, NCL has evolved under the ownership of various influential entities.
Norwegian Caribbean Lines
José E. Cil is the former Chief Executive Officer of Restaurant Brands International Inc. (RBI), which owns of some of the most iconic restaurant brands in the world, such as Burger King®, Tim Hortons®, Popeyes® and Firehouse Subs®. He is an exceptional leader with a proven track record of driving growth both domestically and internationally and brings decades of experience and extensive knowledge of the restaurant industry to the Board of Directors. Before being promoted to CEO of RBI, José spent 20 years in various leadership roles of increasing responsibility at Burger King, including Burger King Global President and President of Burger King Europe, Middle East & Africa (EMEA). His strengths include deep cruise industry knowledge, ability to identify investor sentiment and a comprehensive understanding of the key drivers of our business model. He developed a wide following and has been recognized by institutional investors for his financial expertise and innovation in equity research.
You might even be surprised to discover that budget-friendly lines and super-pricey luxury lines share the same parent companies. In February 2000, Norwegian Cruise Line was acquired by Genting Hong Kong Limited (formerly Star Cruises Ltd.) for approximately $1.8 billion. Following the acquisition, Star Cruises became the third largest cruise line in the world and launched an expansion program of new ships, onboard improvements and innovative itineraries. The fleet's six vessels are on the smaller side, with the largest carrying just 750 passengers.
We operate Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. Our diverse brands offer a high level of onboard service and rich experiences for our guests. Whether guests are looking for unparalleled freedom, immersive sensory experiences, or all-inclusive luxury, they’ll find what they love aboard our fleet.
Norwegian Cruise Line Bullish Thanks to Strong Caribbean Demand - Skift Travel News
Norwegian Cruise Line Bullish Thanks to Strong Caribbean Demand.
Posted: Tue, 27 Feb 2024 08:00:00 GMT [source]
From Small Beginnings to the Impressive Present of Norwegian Cruise Ships
Our private island paradise, Great Stirrup Cay, and The Caribbean’s premier resort-style destination, Harvest Caye, along with our amazing sailings, have earned us the title of “Caribbean’s Leading Cruise Line” eight years in a row. Guests are welcomed aboard with a wide variety of complimentary and specialty dining options, entertainment that ranges from live music and comedy to shows straight from Broadway and our wide range of accommodations that are perfect for any type of traveler. In May 2000, Norwegian Cruise Line introduced Freestyle Cruising® , a revolutionary product offering that provided guests freedom and flexibility in a cruise vacation for a more relaxed, resort-style vacation experience versus traditional cruising. In 1977, the company purchased Great Stirrup Cay, becoming the first cruise line to offer a private “out island” experience.
Previously Harry served as Managing Director of Chilton investment Co. and was Managing Director at JP Morgan. Norwegian Cruise Line, commonly known as NCL, is owned by Norwegian Cruise Line Holdings Ltd. This company was formed in 2013 when the original cruise line split off from its parent company Star Cruises. The current CEO of Norwegian Cruise Line Holding Ltd is Frank Del Rio who has been in charge since 2015 and it also serves as the President and Chief Executive Officer of NCL itself. The Chairman of the Board for both companies is Andrew Stuart who joined the team in 2017. These two executives have helped lead this large corporation to success with a total number of 41 ships under their name that travel all around the world offering customers luxurious vacations at sea.
Regent Takes Delivery of the Highly Anticipated Seven Seas Grandeur™ - A Heritage of Perfection - Norwegian Cruise Line Holdings
Regent Takes Delivery of the Highly Anticipated Seven Seas Grandeur™ - A Heritage of Perfection.
Posted: Thu, 16 Nov 2023 08:00:00 GMT [source]
NCL has also focused on sustainability efforts, implementing environmentally friendly practices and technologies across its fleet. We remain committed to being a responsible corporate citizen by fostering a culture of awareness and respect for our world’s resources. If you’re looking to start your days with ocean views, our Balcony Suites will greet you with seaside sights every morning. For those cruising alone, our award-winning Studios are specially designed for solo travelers and include access to an exclusive private lounge.
All its ships are flagged to the Bahamas, except for the Pride of America, which operates cruises within the United States and is flagged and registered in the US, as well as being owned by a US-registered subsidiary, NCL America. The cruise line was founded in 1966 by Norwegian Knut Kloster and Israeli Ted Arison, with the 8,666-ton, 140 m long cruise ship/car ferry, Sunward,[4] which in 1966 operated as a car ferry between Southampton UK and Gibraltar, for that one short season only. The Sunward was first managed under the Arison Shipping Company, and marketed as Ensign Cruises.[5] Arison soon left to form Carnival Cruise Lines, while Kloster acquired additional ships for Caribbean service, with the line renamed and marketed as Norwegian Caribbean Lines. The fleet’s six vessels are on the smaller side, with the largest carrying just 750 passengers. It has seven (soon to be eight) elegant midsize ships, carrying from 670 to 1,250 passengers each. Oceania’s culinary offerings are second to none in the industry, but that’s expected with an executive culinary director as prestigious as French chef Jacques Pepin.
Norwegian Cruise Line has been the premier innovator in the cruise line industry for over 57 years. We were the first to eliminate set dining times and provide guests with the freedom to cruise on their timetable to over 450 incredible destinations around the world. Our award-winning fleet provides an unparalleled onboard experience and will continue to expand with the arrival of our Prima Class ships. Additionally, the ownership structure can affect resource allocation and financial decisions within NCL.
Today, its fleet of 19 contemporary ships sail to over 400 of the world’s most desirable destinations, including Great Stirrup Cay, the company’s private island in the Bahamas and its resort destination Harvest Caye in Belize. Norwegian Cruise Line is owned by Norwegian Cruise Line Holdings Ltd., a publicly traded company listed on the New York Stock Exchange (NYSE). It operates several cruise ships under its brands of Norwegian Cruise Lines, Oceania Cruises and Regent Seven Seas Cruises. In addition to its own fleet, it also charters vessels from other cruise lines for use in its itineraries. The main shareholders are Apollo Global Management LLC with a 24% stake, TPG Capital LP with 19%, Genting Hong Kong Limited with 17% and Star NCLC Holdings Ltd with 14%.
The involvement of major shareholders and the board of directors helps promote transparency, accountability, and effective decision-making within the company. The 1980s saw Norwegian Cruise Line expand its fleet and venture into new destinations, including Alaska and Europe. In 1995, the company underwent a significant transformation as it was acquired by the Malaysia-based Genting Group. Under Genting’s ownership, NCL experienced rapid growth, with the addition of new ships, innovative onboard amenities, and expanded itineraries. In the early years, NCL operated its first cruise ship, the MS Sunward, catering primarily to the Caribbean market. The company quickly gained a reputation for its innovative approach to cruising, introducing the concept of freestyle cruising – a flexible and relaxed onboard experience where guests can dine, dress, and play at their leisure.
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