ncl future cruise credit transfer

I'll take that one, too. The sail-by date had always been December 31, 2022, so it is only the effective date when guests must apply their credit that has been extended. 5 Things You Didn't Know About Booking a Costco Cruise, Hidden in the Fine Print: 16 Things You Need to Know About Your Cruise Contract, Club Orange, Holland America's Priority Program, 10 Things You Should Never Do on a Cruise Line Private Island. Am I guaranteed the same category on the new booking? Our Peace of Mind policy applied to all sailings through and including May 31, 2022, guests were free to cancel up to and including January 31, 2022. IATA Accredited. So, just kind of wondering if it was -- what it was in the yield management that approach that changed. And we simply executed some of those initiatives quicker than we had anticipated. We are focused on better leveraging our scale as we embark on this period of transformational growth and translating this capacity growth into outside benefits to both the top and bottom line. Your Future Cruise Credit may be used towards the base cruise fare of a future cruise booked within its expiration date. Personally, I couldn't have asked for a more fulfilling and more successful career in this incredible industry, and everyone here contributed to that. Can you kind of help us understand why that's different now? Hi, Patrick. Operator? The Motley Fool has no position in any of the stocks mentioned. Therefore, we focus on total net per diem and net yield as a better holistic representation of our pricing power. Effective May 18, 2020, FCCs from either our 2020 Suspended Sailings or Peace of Mind FCC are transferable. The scope of these targets cover our direct emissions, as well as the full well-to-wake impact of our fuel consumption. The best way to ensure a smooth transfer of future credits collected is to fill out the survey provided on the last day of the sailing. And we had to sell those voyages close in for, you know, very efficient pricing. And the thought process there was, it is very efficient and very extremely beneficial financing. Vietnamese But if we do it right, we can turn it to our benefit. This insurance Future Cruise Credit will be valid for one year from date of issuance and only applicable towards insurance for all published sailings through Dec 31, 2022 (There is an additional Free at Sea Package charge per person based on the booking) And any, you know, color just on the cadence of bookings that you've seen year to date, maybe relative to pre-COVID levels. And I see no risk around that because there's just simply not an opportunity for the institutions to do that. During the quarter, gross onboard revenue per passenger cruise day was nearly 30% higher than the comparable 2019 period. An Future Cruise Credit is almost always a compensation due to a cancelled, interrupted or rebooked cruise. Thank you. You know, we touched on this already in our prepared remarks, but we are laser focused on delivering our '23 guidance and financial goals. Our press release with first quarter 2023 results was issued this morning and is available on our investor relations website. Once the transfer is completed, a confirmation email will be sent to the email provided at time of case submission. Water and/or soda packages Beverage or dining gratuities (if part of the Free at Sea promotion selection), Flexible air purchased through Norwegian Cruise Line, Hotel purchased through Norwegian Cruise Line, Cruise tours purchased through Norwegian Cruise Line, Essentials, Booksafe Standard or Platinum Travel Protection insurance, Dining/beverage packages that are not part of the Free at Sea program, Internet packages that are not part of the Free at Sea program, Onboard amenities such as: Bottles of wine, bon voyage gifts, celebration or photo packages. The consumer is still strong, the consumer is buying cruise tickets, the consumer is spending more on board, the consumer is pre-buying more before they got on board. Malaysia Yeah, you know, Brandt, I think you've hit it right. How can I see my Future Cruise Credit balance. United States: International Cruise & Excursion Gallery, Inc. 2023 Norwegian Cruise Line Holdings Ltd. 11-Reasons to Cruise to Alaska this Summer | NCL Travel Blog, 14-Day Authentic Alaska - Northbound Cruisetour | Norwegian Cruise Line, 14-Day Authentic Alaska - Southbound Cruisetour | Deck Plans | Norwegian Cruise Line, 20-Day Transpacific from Tokyo (Yokohama) & Alaska | Norwegian Cruise Line, 11 Reasons to Cruise to Alaska this Summer | NCL Travel Blog. This may mean different protocols from ship to ship based on local state or port requirements or in an abundance of caution to keep our guests and crew as safe as possible. Tagalog, Australia Hey, good morning, everyone. FCCs are now valid through December 31, 2022, Norwegian Cruise Line Holdings Is First to Opt-In to Voluntary CDC Guidelines, Coast Guard Rescues 4 Passengers from 3 Cruise Ships in 24 Hours, Holland America Opens Alaska Season With Special 150th Events, Viking Vessel Launches Toronto 2023 Cruise Season, MSC Cruises Announces First-Ever Winter Season in Japan. California Seller of Travel CST#2066521-50; Washington UBI #602 443 155 001 0001; Hawaii Travel Agent TAR #5192; Florida Seller of Travel #29452. Thank you. And I think the tail end of your question was whether or not we're booked there currently. This makes for an attractive entry point for investors as the newbuild pipeline adds significant potential future earnings power compared to today's levels. *Average returns of all recommendations since inception. How is the Future Cruise Credit protected against future cancellations? At that time, the receiving guest will be able to apply the coupon to the desired reservation. The value of the original Future Cruise Credit will now be added to the new Future Cruise Credit at 100% of its original value, plus 125% of any amount paid by the guest on the cancelled sailing. This is driven in part by our focus on attracting the best guests and enhancing our market-leading bundled offering. So, I think what you have to think about is looking at our newbuild deliveries that we're taking this year as well. This article is a transcript of this conference call produced for The Motley Fool. NCFs We've all experienced, whether it's traveling for business or consumers traveling, flight prices are elevated. Our onboard revenue generation, which is our best real-time indicator of how consumers are feeling financially, is also performing exceptionally well. Bottles of wine The Future Cruise Credit goes to the individual guest on the reservation. Norwegian Cruise Line ; Transfer cruise credits Please . So, we are taking deliveries of ships, obviously, now in the second quarter. The current FCC holder is not the original FCC recipient. And we'll continue to optimize around that. It's a little less close in demand there as we are booked further in advance. Norwegian's Future Cruise Credit (FCC) is credit that you can use for your next Norwegian cruise. Over the next few months, I will be speaking with travel partners, team members, destination representatives, the investment community, and a whole host of constituents, while working closely with our executive team to fine tune our planning vision for the future, and I look forward to sharing details with you. Am I guaranteed the same category on the new booking? We will continually evaluate options to accelerate our recovery while maintaining adequate financial flexibility to adapt to different macroeconomic backdrops. And if you don't want to give exact numbers, you know, I understand that, but maybe some qualitative commentary would be would be helpful there. And before I get started, I have to say that I am honored and grateful to be given the opportunity to lead this iconic company. Guests can then participate in a new bid once invited to bid for the newly selected sailing. IMPORTANT: To learn more about how to prepare your clients for sailing please visit the pre-cruise requirements page at www.ncl.com/prepare-for-your-cruise/2021 for all required documents and protocols. I have full confidence in the management team and their ability to take this company on to its next chapter. 10 stocks we like better thanNorwegian Cruise LineWhen our analyst team hasa stock tip, it can pay to listen. Thanks, Harry. As we look to the remainder of the year, our substantial book position, coupled with the continued healthy demand metrics we are experiencing, gives us confidence in achieving our 2023 net per diem and net yield guidance, which Mark will touch on in more detail momentarily. Mesmerising beach & city stays in over 200,000 hotel & resort properties worldwide. So, I think, you know, the best indicator for us is our advanced passenger ticket sale revenue. To cancel under our Peace of Mind policy, the following terms and conditions had to be met: Any ancillary items sold by Norwegian Cruise Line will be refunded to the cardholder who made the original purchase and will not be included in the FCC. What Are Carnival's Early Saver Cruise Deals? Complete the on-board survey. Harry, congrats on the new role. So. The FAQ here explains how to transfer it.. You will be able to leave a comment after signing in, Copyright 19952023 The Independent Traveler, Inc. Turning to our next catalyst, we continue to take strategic actions across our business to improve operating efficiencies and rightsize our cost base to rebuild and enhance margins. Bon voyage gifts and celebration packages Tailor-made packages to help you build the dream holiday you need. And with those tools, we think bundling actually provides us in this uncertain future environment a competitive advantage. I know I speak on behalf of the entire NCLH team when I say thank you, Frank, for your countless contributions, not only to our company, but also to the broader cruise industry. And have you seen any impact to export credit rates given the broader credit crunch? The original, full value FCC can be applied and used for the following: The FCC cannot be applied or used for the following: Final Payment and cancellation schedule for all voyages embarking May 1, 2022 forward will remain at our standard policy. On the other hand, an Future Cruise Credit might also be given if your trip is impacted in a major way. I know that was a big part of the commentary last quarter just on the uncertain macro. Second, we are already starting to see the benefits of our margin enhancement efforts and will continue to take strategic measures to best position the company for its next chapter while ensuring that we keep the secret sauce that makes our brand so special fully intact. Taiwan Below are instructions and frequently asked questions for redeeming and using your Future Cruise Credits. Free expert cruise tips and news from Cruise Hive! Only the entire and full original value of Peace of Mind and suspended sailing FCCs worth 100% of the fare paid, as well as the bonus 25% or 50% FCCs, are eligible for transfer. So, while there's always a, you know, both sides of the coin, overall, the economics on going to those itineraries obviously favors the company, or we would not be doing that. Obviously, while there is a slight impact to load factor, the whole reason we're going to more longer premium itinerary intensive destinations is, number one, to get a better guest, to get higher pricing, and to maximize the value that we're getting out of each of our assets. Please proceed with your question. In addition, they agree they are authorized to remove the value of any bonus future cruise credits offered by Norwegian Cruise Line for all guests. Of course, Caribbean doesn't matter all that much for us in Q2 and beyond as we shift our deployment to Europe and Alaska. Before we begin, I would like to cover a few items. Social Security Cuts May Be Coming. Booksafe Travel Protection will be issued as a separate additional Future Cruise Credit worth the value of the travel protection plan paid. The full value of FCC will be credited back to the guest's Latitudes profile if cancellation is outside of standard penalties. Is SoFi Stock a Buy Now? And congratulations to Frank and Harry, to both of you, with the changes. You can redeem any FCC by calling us! United States. This does not include the separate 300 million undrawn backstop commitment, which enhances our future liquidity but is not currently available to draw. If the new cruise fare is lower than the Future Cruise Credit value, a new Future Cruise Credit will be issued for the remaining balance. ABTA numbers Y1932 and L6366. Unless otherwise noted, my commentary on net per diem, net yield, and adjusted net cruise cost, excluding fuel per capacity day metrics, is on a constant currency basis. And then, I'm just trying to figure out the limit to rebuild an occupancy into 2024 assuming no change to your footprint overall. Pricing and yield are both expected to increase in the second half of the year, with the fourth quarter exhibiting the strongest growth versus 2019. And just any color on how you're expecting on board trends in the second half would be helpful. And then, on the shift to longer cruises and more immersive cruise, the 3-point gap in overall occupancy, is that basically reflective of that change in the second quarter? So, we're very happy with that strategy? Conor Cunningham -- Melius Research -- Analyst. PLUS receive a bonus credit to save on hotels, get 24/7 expert Future Cruise Credit & COVID advice & find the best deals - all in one place. I won a bid on the Norwegian Upgrade Advantage. Before I dive into the financial results and outlook, I want to also thank Frank for all that he has done to propel this company forward, as well as his outstanding leadership. However, for FCCs associated with the Peace of Mind policy, the FCC must be first generated and attached to the guest profile before it can be added to a reservation. Our comments may also reference non-GAAP financial measures. We are also increasing quality touch points with our guests, starting with the time of booking, to capture even more revenue and prepayment prior to cruise. In Q2, a quarter ago, you talked about it, returning to historic occupancy levels. Thanks for that. The last catalyst to highlight is our industry-leading newbuild pipeline shown on Slide 9, which Frank already touched on briefly. It works like a store credit for a cruise, so it can be redeemable towards a cruise fare of a future booking. We also revamped our climate action strategy, which is now centered on three key pillars: efficiency, innovation, and collaboration. Is there anything the Peace of Mind FCC cannot be used for? Norwegian's Future Cruise Credit (FCC) is credit that you can use for your next Norwegian cruise. Only one transfer or exchange of ownership will be allowed per FCC. What happens if the cruise I booked using my Future Cruise Credit is cancelled? A Future Cruise Credit (FCC) is essentially a voucher for future travel. And there's two choices. When is the best time to go on an Alaska cruise? The first ship to return to service will be Norwegian Pearl, sailing from the stunning new cruise terminal in PortMiami, from February 7. The financing also covers older supplies associated with preparing certain newbuilds to enter service, as well as related financing premiums. Amenities Unfortunately not, however, if the new cruise fare is lower than the Future Cruise Credits value, a new Future Cruise Credit will be issued for the remaining balance. Steve Wieczynski -- Stifel Financial Corp. -- Analyst. OK, that's helpful. Can guests use their FCC to pay for more than one cruise in the future? What to Expect on a Cruise: Booking With a Cruise Line. Today marks a significant milestone for me, as it is my 34th and final earnings call as president and CEO of this incredible company before my upcoming retirement, which was announced just over a month ago. With Harry Sommer at the helm, I leave this company in the most capable of hands. If you have booked any shore excursions, beverage packages, or other pre-cruise purchases, you will receive a refund to the original form of payment. She will be offering guests cruises to the Greek Isles. and reflecting lower than expected costs in the first quarter. I guess to what extent should we expect that to continue to step down throughout the year. Can a guest make a new booking before they receive the FCC for their cancelled booking? Any unused portion of the credit will be forfeited after the expiration date. This initiative is very much ongoing and will continue to be a top priority under my leadership. And as I had communicated when we communicated on our last call, we were steadfastly going into a lot of our onboard -- our margin enhancement initiatives. Use your FCCs as payment first. Dan Politzer -- Wells Fargo Securities -- Analyst. You know, both Q2 pricing and yields are exactly in line with where we thought they were going to be. Norwegian Cruise Line Security Guide. Cancellation penalties will be withdrawn from the FCC amount if applicable and remaining balance will be attached to guest's profile. Can I make a new booking before I receive the future cruise credit for a cancelled booking? Announcing Our 2023 Cruisers' Choice Award Winners! July 15, 2017. I assure you it is exactly where we expect it to be. We will also make reference to a slide presentation during this call, which may also be found on our investor relations website. What happens if the cruise I want to use my Future Cruise Credit against is cheaper than the value of my Future Cruise Credit? Government Fees and Taxes Instead of getting the amount refunded to your credit card, you may be issued a certificate you can use towards your next Norwegian Cruise Line sailing. Sure, Jessica, happy to, and that's a great question. This will either cover the cost of the fare or be issued in the form of an open certificate similar to the Future Cruise Credit. Partial value transfers or transfers of remaining FCC balance are not permitted. Anything in place already since April 2021 would not allow the guest to cancel and receive the above. Thank you, Frank. And that's simply is a matter of, you know, when we sell the ticket to the consumer, we sell the air at what we believe are going to be the best projected prices. Peace of Mind allows you to defer decisions to a later date and therefore the cancelled cruise may not be re-booked using the FCC. a new quarantine requirement upon return from travel (but not a travel ban), then an FCC would be offered. As I said, those are fixed, so we have very efficient financing going forward. Since we last spoke, we also signed agreements to increase our ECA-backed commitments by approximately 1.7 billion euro. Thanks for taking my question. And in our last earnings release, we had called out that we had increased our contractual commitments by 1.2 billion euro. which gives us confidence that we can achieve this sequential improvement in year over-year-growth. Company Number: U63030DL2017FTC324871. And then, maybe also kind of give us a look at '24. Our record book position also gives us high visibility into the back half of the year and beyond. Can I convert my FCC into another currency? The credit is typically broken down by each individual guest on the reservation, and their charges. Ancillary items include Bon Voyage gifts and celebration packages, pre-purchased dining, or beverage packages (those not part of FAS promotion), water packages, purchased on board credits, pre-purchased internet, or photo packages. Also, I guess that would relate to the first quarter, but just trying to zoom in a little bit on the first quarter versus second quarter and the change there. I tried searching on the NCL site and cannot find it. Absolutely, once the Future Cruise Credit is added to your profile, it can then be applied to any existing booking or newly created bookings. You know, pretty much close to that, absent the Q1 commentary I gave you already. Norwegian Cruise Line ( NCLH 9.40%) Q1 2023 Earnings Call. Mark, over the past year, you've given some longer-term net debt-to-EBITDA target ratios for various years. I'm very proud of what we have been able to collectively achieve, especially over the past few extremely challenging years, but I know that the best days for this company still lie ahead, and I look forward to seeing what you all accomplish together. Japanese Yes, with Norwegian Cruise Line, you can use your Future Crusie Credit to pay for more than one cruise in the future. A good example of this is a recent announcement regarding the rollout of the Starlink low-latency broadband internet system in a phased manner across our fleet. Thank you. Thank you. My Future Cruise Credit is provided and supported globally by International Cruise & Excursion Gallery, Inc., I.C.E Europe Ltd., I.C.E Vacations Asia Pacific PTY LTD, and ICE Vacation Center India Private Limited. Thank you. Thank you, Mark. So in terms of 2024, I'll take the second part of your question first. #1. That being said, we were very pleasantly surprised with flows in demand for Caribbean in Q1. By proceeding, you agree to Cruise Critics. 19952023, The Independent Traveler, Inc. Special Event: Q&A with Rudi Schreiner, President, Co-Founder & Co-Owner - AmaWaterways River Cruises, Q&A with Avoya Travel: Learn How to Turn Your Passion into Success by Becoming an Independent Travel Advisor. But most of all, you've made us better. In addition, any of these items will also be added if booked through Norwegian Cruise Line; Flight arrangements, Hotel and Cruise Tour packages, Shore Excursions booked and pre-paid, Prepaid service charges, Beverage or Dining gratuities (if part of FAS Promotion selection), Essentials, Booksafe Standard or Platinum Travel Protection. Can guests choose to carry promotional amenities or value adds from their cancelled reservation to their future booking? As Slide 5 shows, Harry has a broad range and depth of experience that makes him one of the premier executives in the industry. You know, we use all types of tools in terms of automation, even AI to predict when the best time to book a flight is. So, while we did get a benefit in Q1, it doesn't necessarily translate to a benefit in the outer quarters simply because we already had that baked into our guidance. Thank you, Frank. And did I get that correct? Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Should your credits be applied to an active reservation, the refund amount will be subject to Norwegian's cancellation fee policy communicated to our guests at the time of booking and may be found on our website, An active and existing FCC is attached to a profile of a guest who has passed away. Fourth quarter is also expected to benefit from our strategic shift to premium deployments with extended Alaska and European seasons this year, as well as a mixed shift with more capacity operating for our Regent and Oceania brands. May 01, 2023, 10:00 a.m. So we did overachieve in Q1. The full cancellation and final payment schedule can be viewed here. Future reservations are subject to prevailing fares and offers in market at the time of booking. All three of our brands are well poised to properly absorb this elevated capacity growth, given our relative size and under-penetration in many markets around the world. Sign up and register your future cruise credit details to get personalised service, cruise line updates and exclusive promotions. Norwegian Cruise Line has extended its Future Cruise Credit (FCCs) booked by date until the end of the year. Thanks Mark. You know, I think that range applies to the end of wave as well that we like to be between 60% to 65% booked for the following 12 months at the end of wave. Once the transfer takes place, the receiving guest is now the owner and the previous owner cannot request a transfer back. Listen, we were very pleased with the results in Q1. Cost basis and return based on previous market day close. Reservations cancelled outside of final payment received a full refund back to the method of payment used to book. So, I just want to point out that that's not necessarily a change from last quarter. We view this as a winning formula. Jessica John -- Vice President, Investor Relations, ESG, and Corporate Communications. Ancillary pre-purchased items include: * Peace of mind is only applicable to bookings that have payment applied as per terms and conditions. That's right -- theythink these 10stocks are even better buys. Hey, guys, good morning. We make sure cruisers are fully prepared for their cruise vacation with tips on ships and ports. We can do better than that going forward when we have the more advanced lead time we need to book some of our exotic itineraries and also have the fully -- the overhang of the difficult years that we've talked about beforehand. To make the world smarter, happier, and richer. On the other hand, a future cruise program is a way to secure a future cruise booking whilst onboard taking advantage of a great deal. The guests -- the passenger load occupancy is a function of what we talked before, having less third and fourth guests on board. It has a monetary amount associated with it, and it is provided in lieu of a refund. But things are looking very, very healthy from our perspective in terms of the overall consumer demand for cruise. After that, its a short wait until March 2, when Norwegian Sky will return to service, also sailing the Caribean from Miami. Include the following information in the comments field: Completed FCC transfer request information as listed below. I said last quarter, we need to do a better job of leveraging our scale. 2023 Norwegian Cruise Line Holdings Ltd. 11-Reasons to Cruise to Alaska this Summer | NCL Travel Blog, 14-Day Authentic Alaska - Northbound Cruisetour | Norwegian Cruise Line, 14-Day Authentic Alaska - Southbound Cruisetour | Deck Plans | Norwegian Cruise Line, 20-Day Transpacific from Tokyo (Yokohama) & Alaska | Norwegian Cruise Line, 11 Reasons to Cruise to Alaska this Summer | NCL Travel Blog. Future Cruise Credits acquired because of suspended sailings are brand-specific and can only be redeemed on the brand where the cancellation occurred. What happens to CruiseNext certificates that were used on a cancelled reservation? Many times, in lieu of a direct cash refund, a cruise line will take the price of a refunded cruise and issue it as a kind of gift certificate to be used toward booking a new sailing. I have a sneaking suspicion you were a contributor to the stellar booking and pricing on the around-the-world sailing. let one of our experts help you with this procedure to ensure the right amount is transferred. Sure, I'll take that one. By Only new government or agency mandates would be considered. ET. During the first months of the pandemic in 2020, Norwegian Cruise Line issued thousands of FCCs to guests who saw their cruises canceled. And as I said in my prepared remarks, the second half of 2023 is expected and we continue to expect very strong pricing and yield growth. I won a bid on the Norwegian Upgrade Advantage. This allowed cruise lines to retain cash -- at 25% interest -- at a time when ships weren't bringing in revenue. There will need to be new deposit money paid towards the booking to satisfy the amount of the deposit and then the Future Cruise Credit will be applied towards the balance of the cruise fare costs. So, let's address the cost side first. And I'm just trying to -- and obviously, if we try and back into what's implied for the full year, you know, it would seem like it's very modest improvement, almost flattish from a pretty high level. I booked and paid for 2 cabins, we received future cruise credits to be used within 1 year and the credit was issued to each of the cruisers. After eight incredible years, it is now time for me to make way for the next generation of leaders who are ready and energized to take this company onto greater heights.

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