WHY IT RATES: Regent Seven Seas Cruises has a luxurious new ship on the horizon. —Codie Liermann, Associate Editor
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH), (together with NCL Corporation Ltd., “Norwegian Cruise Line Holdings”, “Norwegian” or the “Company”) today announced an order for a new ship for Regent Seven Seas Cruises.
The new vessel will be a sister ship to Seven Seas Explorer, the most luxurious ship ever built, and Seven Seas SplendorTM, the ship that perfects luxury. The ship will be designed and built by Fincantieri S.p.A. for delivery in late 2023.
Building on the success of its predecessors, Regent Seven Seas Cruises’ newest addition will continue to set the standard for defining elegance at sea. Accommodating up to 750 guests, the intimate and spacious new ship will be the brand’s sixth all-suite vessel.
Details regarding her itineraries, accommodations, dining venues, amenities and onboard experiences will be revealed leading up to her 2023 debut. Voyages for the ship’s inaugural season will go on sale in 2021.
“We are excited to build on the spectacular success of Seven Seas Explorer and Seven Seas Splendor as we embark on bringing to life a new vessel that will set an even higher benchmark for elegance, luxury and style,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd.
“This new ship further strengthens our Company’s robust yet measured growth profile with vessels now on order for all three of our award-winning brands, enabling us to expand our presence globally, further diversify our product offerings and continue to drive shareholder returns.”
Since debuting in 2016, Seven Seas Explorer has solidified her reputation as the most luxurious ship ever built with numerous industry awards and continued accolades from guests across the globe.
The eagerly anticipated Seven Seas Splendor, set for delivery in early 2020, is following in her predecessor’s footsteps, driving the line’s single-day booking record when voyages for her inaugural season were opened for sale in April 2018.
“Over the past 12 months Regent Seven Seas Cruises has completed a $125 million revitalization of our fleet, began construction on Seven Seas Splendor, unveiled our 2020-2021 Voyage Collection with 167 itineraries and new ports, introduced new relaxed outdoor evening dining venues, debuted the industry’s most immersive Cuba itineraries, revealed Go Local Tours shore excursions, and today we announce the order for our newest category-defining luxury cruise ship,” said Jason Montague, president and chief executive officer of Regent Seven Seas Cruises.
“Our growth is a reflection of the amazing people who work across our fleet, our valued shoreside employees, our loyal guests and their trusted travel advisors. These are exciting times for everyone associated with Regent Seven Seas Cruises, and we can’t wait to show you what’s next.”
The contract price for the vessel is approximately €475 million. The Company has obtained export credit financing with favorable terms to fund 80 percent of the contract price of the ship, subject to certain Italian government approvals.
With today’s announcement, Norwegian Cruise Line Holdings has eleven ships on order for delivery through 2027 including seven ships on order for Norwegian Cruise Line, two for Oceania Cruises and two for Regent Seven Seas Cruises. The Company will take delivery of its newest ship, Norwegian Encore, in fall 2019.
“This agreement is the perfect seal of the work our Group has carried out over the years and the role we have gained on the market. We are able to enter and maintain a reference market presence in every niche, including the most unique and competitive as the ultra-luxury one, in which Regent Seven Seas Cruises operates. Quality is the ship owner’s hallmark and it entrusted Fincantieri once again,” stated Giuseppe Bono, CEO of Fincantieri.
“Today we have 10 ships on order for Norwegian Cruise Line Holdings Ltd. in our order book, 5 of which have been secured in the last 5 months, for all the three brands in their portfolio: this result confirms the strength of the strategies we carried out, allowing us to reiterate our leadership in the sector at a global level.”
SOURCE: Norwegian Cruise Line press release.
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