Shares of Norwegian Cruise Line Holdings Ltd. NCLH, +1.15% rose 1.6% in premarket trading, after the cruise operator provided an upbeat outlook for 2022 bookings. The company said in a presentation prepared for the J.P. Morgan Gaming, Lodging, Restaurant & Leisure Management Access Forum that is continues to see “strong demand” for future cruise vacations, despite reduced market investments. As the company has suspended cruises through May 31, the cumulative books position for the second half of 2021 remains below historical levels, given continued uncertainty resulting from COVID-19 related suspensions, although pricing is “in line” with pre-pandemic levels. “While still early in the booking cycle, 2022 booking trends are very positive driven by strong pent up demand,” Norwegian said. “The company is experiencing robust future demand across all brands with the overall cumulative booked position for the first half of 2022 significantly ahead of 2019’s record levels, with pricing in line when excluding the dilutive impact of [future cruise credits].” Norwegian’s stock has rallied 11.4% over the past three months through Wednesday, while the S&P 500 SPX, +0.89% has gained 6.4%.
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