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ncl future cruise credit transfer ncl future cruise credit transfer

Listen, in Q2 and in all future quarters, our focus now is on having our cabins as close to 100% full as possible. No, guests will receive the full value of their winning bid within the FCC and can apply that towards the sailing and category of their choice. Our record book position also gives us high visibility into the back half of the year and beyond. A good way to be sure to redeem the full amount is to consider a cabin upgrade, book an ocean view instead of an inside cabin or treat yourself to a balcony instead of an ocean view stateroom. Operator? Book and get $500 Savings Credits bonus to use on you future cruises, hotels, resorts and more with iCruise Rewards. The amount of FCC that a cruise passenger qualifies for is calculated on the base fare that they paid, less any taxes, fees, upgrades or additional purchases like excursions. This should result in a lower run rate cost level exiting 2023 than our full year reported results. We're on that journey. Absolutely, however for Future Cruise Credits associated with these affected cruises, the Future Cruise Credit must be first generated and attached to your profile. But rather, that we will be even more strategic and data-driven when making these decisions to ensure we are investing where we see the highest returns and most impact. So, it does not represent a further half-a-billion increase in the overall ship cost, it is simply a different mechanism for financing some of the existing costs that were already expected. Turning to liquidity, our overall liquidity position remains strong at approximately 1.9 billion as outlined on Slide 17. Please proceed with your question. Norwegian Cruise Line said the following in a letter to travel advisors: As we continue to focus on ways to support the guest experience, we have decided to extend Future Cruise Credits (FCCs) to ensure your guests have the opportunity to enjoy the best vacation possible when they sail. Cruise lines have issued millions of future cruise credits to customers since the COVID-19 pandemic began in lieu of refunds for canceled sailings far more than at any other point in the history of cruising. Before turning the call over to Q&A, I'd like to leave you with some key takeaways which you can find on Slide 18. Can I make a new booking before I receive the future cruise credit for a cancelled booking? Future cruise credit (FCC) is a bit like store credit from a cruise line. Future Cruise Credits often have expiration dates, and they may also have specific guidelines for how they can be used. The two ships that will signal the moment when the entire Norwegian Cruise Line fleet is operational again are Norwegian Sun and Norwegian Spirit. 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. OK, operator, we can take the questions from the line now. Proceed with your question. Get advice from Norwegian Cruise Line Future Cruise Credit experts & extra bonuses. Now if you happen to have more Amex NCL $150 back offers on a number of cards (or other offers like 15,000 Membership Rewards points) when you spend $500 you could load in one of these to your cruise account. What if I booked my cruise with a travel agent and received a Future Cruise Credit? You might receive a Future Cruise Credit if a . So, I wouldn't skew too much that the premium itineraries are going to be a big driver of cost. The new policy applies to both individual and group bookings*. We expect this metric to continue to show modest sequential improvement each quarter for the remainder of 2023 as seen on Slide 8. All future cruise credits must be redeemed within one year from issue date and can be used for sailings departing on or before December 31, 2022. Posted 2 hours ago. See all the ways you can use your Savings Credits Credits below, then find out how many you're eligible for right away! Sign up and register your NCL Future Cruise Credit here, then browse the unlimited availability of exciting NCL sailings, cabin categories and destinations available with my future cruise credit and contact one of our expert agents for personalised help with planning and booking. Can guests use their FCC to pay for more than one cruise in the future? So, first and foremost, there is no change. NCL's CruiseFirst and CruiseNext programs Norwegian Bliss in the Caribbean. [Operator instructions] As a reminder to all participants, this conference is being recorded. For up-to-the-minute details on vaccination requirements, testing protocols, and health and safety procedures visit www.ncl.com/sail-safe. By continuing to browse the site you agree to our use of cookies. Future Cruise Credits (FCC) are credits issued by a cruise line to use as payments towards another cruise vacation in the future. I guess to what extent should we expect that to continue to step down throughout the year. Insurance FCCs can only be applied to a new reservation where Essentials, Booksafe Standard or Platinum Travel protection has been added. What is your current final payment policy and schedule? So, I won't give too much color on that, but other than we're exactly in the position we need -- where we need to be. So, the remainder of it, we are carrying through. Click here to reload the page in order to enable certain features. Thousands of domestic & international car hire and both low-cost & scheduled flights. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. In terms of this gap of 3%, does that reflect what we're going forward? Adjusted net cruise cost, excluding fuel per capacity day, is expected to be approximately $159 in the second quarter, a further improvement versus the prior quarter as additional savings initiatives are realized. 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. Since we last spoke, we also signed agreements to increase our ECA-backed commitments by approximately 1.7 billion euro. Future Cruise Credits acquired because of suspended sailings are brand-specific and can only be redeemed on the brand where the cancellation occurred. It can then be applied to any new or existing reservation or group booking. Water and/or soda packages 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. I just want to comment that when Frank goes on cruises in retirement, he doesn't pay, so he won't be contributing to that world cruise number you saw earlier. Photo packages. Future Cruise Credit will be credited to you via your Latitudes number and communication will be sent to you once the credit is added to your account. Do you see yourself still on track to hit those targets? 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. And then, secondly, I think the other piece to look at is when you do the comparison versus a very strong second quarter 2019, we're comping over some difficult comps with Cuba that we had back in 2019, as well as the full benefit of Baltic itineraries. NCFs So, look, I think bottom line, we continue to sequentially improve our cost structure. You can redeem any FCC by calling us! Thank you. The last catalyst to highlight is our industry-leading newbuild pipeline shown on Slide 9, which Frank already touched on briefly. Yes. Growing up to immigrant working class parents in the Bronx, I could never have dreamed to be at the helm of such a storied brand. Thank you, Mark. And what's unique about that in the third and fourth quarter, obviously, we're taking -- we have a higher -- we have the higher operating cost brands of Oceania and Regent. Absolutely. I mean, is there any net cruise costs changes or net yield changes that we should be thinking through? If a refund is approved, all FCCs (including Bonus FCCs) will be deactivated, and a refund will be issued back to the original form of payment, within 90 days from the request submission date. Korea Which sailings qualify under Norwegians Peace of Mind policy? This initiative is very much ongoing and will continue to be a top priority under my leadership. Cruise departure date 18 March - 29 July 2020: Government Fees and Taxes During the first months of the pandemic in 2020, Norwegian Cruise Line issued thousands of FCCs to guests who saw their cruises canceled. Can I use my Future Cruise Credit to prepay gratuities? But if, you know, Mark, if we look at Slide 13, I mean, look, you basically destroyed every guidance target that you laid out back in February for the first quarter. A future cruise credit is typically delivered via email within a few weeks' time, depending on how long it takes the cruise line to process it. 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. Please contact Sixthman directly. 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. Or is it spread out over a number of deliveries between now and then? But I guess what I'm just getting at here is, you know, if your customer base stays pretty much status quo from here, you know, it would seem to us that it would be tough not to get to the high end of your full year guidance and maybe even exceed the top end of your guidance. Norwegians Enhanced Peace of Mind Policy was available from December 30, 2021 through January 31, 2022. Steve Wieczynski -- Stifel Financial Corp. -- Analyst. Am I guaranteed the same category on the new booking? Any ancillary items sold by Norwegian Cruise Line will be refunded to the cardholder who made the original purchase (refunded to the original form of payment) and will not be included in the Future Cruise Credit. Following up on the strategic shift to longer, more immersive itineraries, should we be thinking about any other financial ramifications of this shift other than the occupancy? With that, I'd like to turn the call over to Frank del Rio. Transfers Contact Guest Services. In broad terms, a future cruise credit is just what the name implies a voucher good for a future cruise. Yeah, sure. The new booking must be made within one year of the cancellation date. By proceeding, you agree to Cruise Critics. And we hope to deliver on that, and we're feeling good with what the outlook looks like today. That is just a complete no-no in our organization. Announcing Our 2023 Cruisers' Choice Award Winners! Focus on where you want to go and let us make your dream come true - stress-free!". 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. I assure you it is exactly where we expect it to be. Your Future Cruise Credit will, most likely, only be redeemable towards a new cruise fare and is issued in lieu of a refund, however, some Cruise Lines have given customers the option to receive an onboard spend credit in lieu of a refund. Thank you. I am booked on a Sixthman full ship chartered cruise, which sails on Norwegian. If the amount of the credit falls short of the new cruise fare, you'll pay the difference out of pocket. But I'll turn it over to Mark to talk about financial ramifications. 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. So, I would actually rephrase that as financial benefits. Voyage Fare Our next question is from Conor Cunningham with Melius Research. *Terms & Conditions Package not available on sailings less than 5 days or charter sailings. Which guests on the bookings receive the Future Cruise Credit? You know, pretty much close to that, absent the Q1 commentary I gave you already. 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. I am also pleased to report that we expect to achieve another significant milestone in the quarter with adjusted EPS turning positive for the first time since the pandemic at approximately $0.25 per share. That said, we have not stopped, and we continue to look at opportunities to improve our cost structure. So, while we're not ready to necessarily change the rest of our guidance metrics, I think we're trending well, and we're trending healthy, and I think our guidance reflects that. This average is slightly below 2019 levels as a result of our strategic shift to longer, more immersive itineraries at the Norwegian Cruise Line brand, naturally resulting in less thirds and fourths, which is what historically pushes passenger occupancy above the 100% mark, all while enhancing margin over time. But as Mark just discussed, we believe, over time, this actually is going to be EBITDA and margin-accretive. With great pride, we took delivery of this amazing ship just last week, bringing NCLH's total fleet to 30 vessels with over 60,000 berths. Refunds -- Which Should I Choose? Partial value transfers or transfers of remaining FCC balance are not permitted. And, hopefully, over the next few quarters, we can continue to prove that and further build confidence that we're leveraging our scale to the best of our ability. Was there any noise in the quarter on the Free at Sea program? a new quarantine requirement upon return from travel (but not a travel ban), then an FCC would be offered. Can you discuss what you're seeing, I think first half of the year you're weighted a little heavier Caribbean, you know, how pricing and closing demand is looking for the region? Thank you. Norwegian Cruise Line has extended its Future Cruise Credit (FCCs) booked by date until the end of the year. United States. Can I get a refund on the add ons booked with my cruise such as spa treatments shore excursions included with my original cruise? NCL Future Cruise Credits are non-refundable. 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. 04/02/2018. Regardless of the original Future Cruise Credit's expiration date, the new Future Cruise Credit is valid through December 31, 2021, at which time all unused funds will expire. And then, just as a follow-up, great to hear that you guys are happy with your book for the all-important sort of summer in the Mediterranean. Frank, thank you for your service. Each submission request will be individually handled and responded to. Future Cruise Credit can be applied towards any Norwegian Cruise Line voyage from October 1, 2020 through December 31, 2022. In order to transfer an FCC, and in an effort for us to best assist you quickly, please follow the instructions below: POM or Suspended Sailing reservation number that generated the FCC being transferred: At time of cancellation, all promotional offers, amenities, and value adds will be removed from the booking and will not carry-over to future reservations. We are committed to identifying and evaluating incremental opportunities across every area of the business to help accelerate our margin recovery. United Kingdom We bought two Cruise Next certificates because we figured we would be returning to NCL for future cruises. Got it. Effective May 18, 2020, FCCs from either our 2020 Suspended Sailings or Peace of Mind FCC are transferable. Can you kind of help us understand why that's different now? Frank? Have comfort in knowing that we are Future Cruise Credit Experts and our specialised team will assist you along the whole way, You will have a full selection of sailings available from all major cruise lines alongside beautiful destinations to explore, Proud to be globally recognised and accredited agent. FCCs from either suspended sailings or Peace of Mind cant be converted into another currency. Onboard credit This was primarily to finance improvements and modifications to newbuilds currently on order across our three brands. And then, of course as you look at the brand mix, that's also a tailwind. Vince Ciepiel -- Cleveland Research Company -- Analyst. I have a sneaking suspicion you were a contributor to the stellar booking and pricing on the around-the-world sailing. Our press release with first quarter 2023 results was issued this morning and is available on our investor relations website. So, I can definitively say that in Q2, we will be at or ahead of our Q2 cabin load occupancy across the entire fleet. And we've absolutely seen or exceeded those levels during Q1 booking period compared to Q1 of 2019. Hindi So, when you combine all those factors together, that's what gives us good -- great confidence in where our pricing is. CruiseNext deposits applied to a reservation cancelled under our Peace of Mind policy will not be reissued. One day later, Norwegian Jade will return to service from a homeport that is not used too often, Panama City, from where she will offer Panama Canal cruises. Third, we are excited to deliver on our industry-leading growth profile, which we are confident we can profitably absorb, providing a meaningful boost to our future earnings power. The results of this initiative are ready to getting to bear fruit as demonstrated by our first quarter adjusted net cruise cost excluding fuel per capacity day, which was not only 14% below the run rate in the second half of 2022, but also outperformed our guidance by $4, as certain savings were realized earlier than anticipated. ABTA numbers Y1932 and L6366. Harry? Later, we will conduct a question-and-answer session, and instructions for the session will follow at that time. A guest has been affected by one or more suspensions, Guest elected to cancel via our Peace of Mind (POM) policy, A guest is unable to meet any vaccination requirements. And, you know, number one, that's on the back of very strong just good old-fashioned core growth. July 15, 2017. Adjusted EBITDA was nearly $40 million higher than our guidance at approximately $234 million in the quarter. We'll be taking delivery of a ship in the third quarter and fourth quarter. Malaysia So, my first question is on the cost side. And have you seen any impact to export credit rates given the broader credit crunch? Is SoFi Stock a Buy Now? IATA Accredited. 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. 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. I would now like to turn the conference over to your host, Jessica John, vice president of investor relations, ESG, and corporate communications. 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. 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. How long do I have to redeem my POM future cruise credit (FCC)? You can redeem any FCC by calling us! What do I do if I am ready to book my next cruise with My Future Cruise Credit? First question, on the second quarter, the yields, I mean, I think they were a little bit -- a little bit lower than we were expecting. Please proceed with your question. While we originally planned to fund this with our organic cash flow generation when the ships were originally ordered, given the very efficient and supportive financing we received from export credit agencies and the continued uncertainty in the macro and financial markets, we felt financing this was a prudent action to minimize cash outflows for the next few years. So, we said last quarter that we wanted to be prudent in terms of our guidance. I have worked with Harry in various capacities over the course of three decades, and I can assure you that he is a strategic and innovative leader, who has the right talent, skill set, and energy to lead the company at this pivotal time in its history. So, all of our newbuild orders, I'll remind everybody that we do not execute any newbuild orders without committed financing. Better Buy: Royal Caribbean or Norwegian Cruise Line Stock? In the second quarter, we expect to average 105% occupancy, a return to normalized levels with cabins fully sold. Shifting our discussion now to our booking demand and pricing trends, you can see on Slide 10, we reached low factors of 101.5% in the first quarter, exceeding our guidance and breaking triple-digit levels for the first time in three years, with some voyages exceeding occupancy of 115%. So, I'm going to kind of ask Dan's question maybe a little bit differently. Mark Kempa -- Executive Vice President, Chief Financial Officer. inside cabins. We're also hard at work at our ongoing margin enhancement initiative and are continuing to identify new and innovative ways to get more efficient while also delivering best-in-class product and service offerings for our guests. How can I receive a Future Cruise Credit? Please proceed with your questions. A FCC may be used towards the deposit and/or base cruise fare of any future cruise. Our next question is from Patrick Scholes with Truist Securities. So, just any more detail there between maybe the gross in the net. [Operator instructions]. 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. Why book your Future Cruise Credit with us? Can a guest make a new booking before they receive the FCC for their cancelled booking? Indonesia This call includes forward-looking statements that involve risks and uncertainties that could cause our actual results to differ materially from such statements. Upon submission of the online request, an email will be sent to the email address entered on the form with a response and case number. Sun will return on May 5, sailing from Seattle to Alaska, and Norwegian Spirit will sail on May 7, from Papeete, Tahiti. I have to thank our partners at Fincantieri once again for bringing our vision to life and delivering a truly magnificent ship. Simply put, for new and existing bookings made by January 31, 2022, for any voyage with an embarkation date through and including May 31, 2022, guests were free to cancel up to and including January 31, 2022 with Norwegian's Peace of Mind. Before getting to the crux of the call, I want to take a moment to thank all of Norwegian's team members around the globe, shipboard, and shore side, who are the backbone of this company and who are the main driver of its success. And congratulations to Frank and Harry, to both of you, with the changes. Guests can then participate in a new bid once invited to bid for the newly selected sailing. Thanks for taking my question. I'm incredibly proud of you. Booksafe Travel Protection will be issued as a separate additional Future Cruise Credit worth the value of the travel protection plan paid. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Charters are excluded. Is there anything the Peace of Mind FCC cannot be used for? This website uses cookies. Dining/beverage packages that are not part of the Free At Sea programme A reconciliation to the most directly comparable GAAP financial measure and other associated disclosures are contained in our earnings release and presentation. Policies for Sixthman full-ship charters may differ. For guests who are no longer able to travel as a result of an official announcement by a government or agency that takes place within 14 days of sailing (when Peace of Mind is no longer available), and the mandate states guests are NOT allowed to travel, then a refund would be available. How can I see my Future Cruise Credit balance. 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. Applicability to convert an existing FCC to a monetary refund request may be submitted for one of the following reasons: Any guest affected by one of the above, wishing to request a monetary refund (of their original cruise fare paid and in lieu of their active FCC, including bonus amounts) must submit a refund request via the Guest Relations Case Submission page at https://www.ncl.com/case-submission. All guests who complete an online submission request (requesting to convert active FCCs to a monetary refund) agree that they are authorized to do so on behalf of all persons on the reservation as we are unable to issue partial refunds. We have had a future cruise credit with Norwegian cruise line for some time when the cruise line cancelled out cruise at the beginning of the pandemic.Now we want to go on a cruise in september and use it, but the cruise line won't apply it, saying they will only apply it if we go before . Take note of the fine print, and when in doubt, call your cruise line to clarify important things like expiration date or any blackout dates. Or is that spread out over different years? We've all experienced, whether it's traveling for business or consumers traveling, flight prices are elevated. How long is my Future Cruise Credit valid for? Only one transfer or exchange of ownership will be allowed per FCC. Note: Suspended Sailings and Peace of Mind FCCs are valid for sailings through December 31, 2022. So, but, you know, if you just took Q1 in isolation and you said, "OK, we beat the quarter by $0.15 and you look at the rest of the year, almost half of that is being eroded by fuel and FX headwinds. So, you know, what am I missing there, Mark? Copyright 19952023 The Independent Traveler, Inc. Amazing, Funny & Totally Awesome Cruise Photos. Hey, good morning, everybody. 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. An email from the current FCC owner requesting the transfer to be made must be included when submitting the transfer request via, Insurance FCCs and 10% bonus FCCs are not transferrable. Hi, everyone. So, I just want to point out that that's not necessarily a change from last quarter. The Motley Fool has no position in any of the stocks mentioned. Thanks, Harry. Stephen Grambling -- Morgan Stanley -- Analyst. Shifting our attention to guidance, our outlook for the second quarter can be found on Slide 14. Europe: I.C.E Europe Ltd. Company Number: 03793955. Sorry, at this time their Future Cruise Credits are not stackable and can only be redeemed towards a single guests' cruise booking. Hotel purchased through Norwegian Cruise Line She will be offering guests cruises to the Greek Isles. But it's a bit early for us to give additional color on that. What is even more exciting is that this is just the first of three newbuilds that we have in the pipeline this year, with Norwegian Viva and Regent Seven Seas' Grandeur joining the fleet later this year. The current FCC holder is not the original FCC recipient. Please proceed with your question. What protocols have been implemented to address COVID-19? Bon Voyage gifts and celebration packages Sign up and register your future cruise credit details to get personalised service, cruise line updates and exclusive promotions. 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.

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