Grand Turk Cruise Center Projects 500,000 Visits in 2009

With 229 cruise ship calls scheduled for 2009, the Caribbean island-based Grand Turk Cruise Center built predicts a record 500,000 passengers will visit in 2009. This is a 25% increase over 2008, when the center was closed for 30 days after Hurricane Ike.

Carnival Corp. owns the island’s cruise center, and Carnival ships as well as Holland America, Princess and Costa (all owned by Carnival) although Silversea, Oceania Cruises, Crystal and Regent Seven Seas also have stops scheduled there in 2009.

Grand Turk has many organized shore excursions, horseback riding, kayaking and world-class diving, snorkeling and fishing. The new Grand Turk Grace Bay Car Rentals recently opened so guests can drive to the island’s sites, beaches and architecture.

The Center can accommodate up to 6,000 passengers per day on a 13-acre complex with an 800-foot-long private beach, swimming pool and retail shops. A FlowRider® surfing adventure and the Caribbean’s largest “Margaritaville”-themed bar and restaurant.

For more information about the island, the Grand Turk Cruise Center, as well as the 2009 cruise ship schedule, shore excursion offerings visit grandturkcc.com. For information on Grand Turk Grace Bay Car Rentals visit their web site at gracebaycarrentals.com.

1-29-09
Royal Caribbean Reports Quarterly Results

Royal Caribbean International, the parent company of Royal Caribbean, Celebrity and Azamara Cruises, as well as smaller European brands, announced the results of their most recent quarter Jan 29.

The company had predicted earnings between five to 10-cents per share. Actual earnings were one penny per share.

Fourth quarter 2008 net income = $1.5 million, or $0.01 per share, compared to $70.8 million or $0.33 per share in 2007. For the full year 2008, net income was $573.7 million, or $2.68 per share.

Bookings began to suffer a substantial downturn in September resulting in a Net Yield decline of 5.9% for the quarter. This is lower than the company’s previous guidance of down 4% - 5% due to foreign currency changes during the quarter.

During the quarter, substantial cost containment and other actions largely offset higher than anticipated fuel and insurance expenses.

Fuel expense was higher than the company’s last calculations mainly due to higher at-the-pump pricing than anticipated.

Looking forward, the revenue outlook for 2009 remains weak. Both ticket sales and onboard revenue have been impacted by the general economic conditions. It has required substantial discounts to generate the requisite volume and consumers are making their vacation decisions later than previously.

Increased cost containment programs are expected to result in a 5% - 7% decline in Net Cruise Costs per APCD excluding fuel in 2009.

The company expects Net Yields for 2009 will be down 9% - 13% from 2008 and that EPS will be in a range around $1.40 per share.

Early indications from the “WAVE Period” are encouraging and suggest that the booking situation may have begun to stabilize although pricing remains extremely challenging.

“The fourth quarter was an extremely difficult operating environment and we expect even more challenges in 2009,” said Richard D. Fain, chairman and chief executive officer. “Nevertheless, I am pleased by our success in reducing costs without compromising the guest experience. Although the WAVE Period has only just started, we are encouraged by what we have seen so far; pricing is still very difficult, but booking patterns have begun to stabilize.”

It is important to note that much of this quarter, Oct. through Dec. 2008, showed erratic pricing patterns and indecision about how to react to the economic changes. It was not until December that most of the cruise lines had readjusted to the new mood of their customers and created buying incentives to appeal to the new financial mindset.

What’s Changed in the Booking Environment?

The report says that as soon as the January WAVE season arrived bookings were as robust as last year, albeit at lower prices. Royal Caribbean sees people delaying their vacation purchase decisions but choosing to cruise as their vacation date gets closer.

The company also disclosed that its core Caribbean products are seeing stronger demand than its premium seasonal products such as Europe and Alaska. Onboard revenue, which until the fourth quarter of 2008 had remained resilient, has also been reduced in the company’s guidance.

The company continues to successfully expand the proportion of its business that comes from outside the United States, which also makes currency issues more relevant to the company’s results.

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1-27-09
Norwegian Cruise Line (NCL) Names New F3 ship: Norwegian Epic
Norwegian Cruise Line (NCL) today announced that it has selected the name for its new F3 ship: Norwegian Epic. Just as the name implies, the ship will be the largest and most innovative Freestyle Cruising ship to date.

The 4,200-passenger Norwegian Epic is scheduled to sail year-round to the Caribbean from Miami, beginning in summer 2010. Following a series of inaugural events in Europe and the U.S., the ship will homeport in Miami and will sail year-round to the Caribbean offering alternating seven-day Western and Eastern Caribbean voyages through April 2011. These cruises are scheduled to go on sale to the public later this spring. NCL will open Norwegian Epic�s sailings for group block bookings exclusively for travel partners in mid-March 2009.

The ship�s Western Caribbean itinerary includes stops in Costa Maya, Mexico; Roat�n, Bay Islands, Honduras; and Cozumel, Mexico. Norwegian Epic�s Eastern Caribbean itinerary includes stops in Philipsburg, St. Maarten; St. Thomas, U.S. Virgin Islands and Nassau, Bahamas.

Norwegian Epic represents the next generation of Freestyle Cruising � a ship that incorporates a wide range of new features and amenities, including curved New Wave staterooms and unique nightlife options. To date, the company has revealed five unique nightlife venues that rival the experiences of Las Vegas, Ibiza, the Riviera and South Beach. The five venues include the industry’s first true Ice Bar; POSH Beach Club, a first of its kind beach club at sea that offers an exclusive, adults-only setting at the top of the ship; Halo, the �ber Bar, a private bar and lounge in the ship-within-a-ship villa complex; Bliss Ultra Lounge, NCL’s all-day entertainment and nightclub complex with four-lane bowling alley; and Spice H20, an adults-only aft pool deck experience.

In addition, the ship will feature the New Wave standard, New Wave balcony and New Wave deluxe staterooms that represent a giant leap forward in cruise ship accommodations with a completely fresh take on bathroom design, contemporary curved architecture and open living space. The New Wave stateroom�s most distinctive design element is its curved walls and lines creating a modern and chic experience. NCL has maximized the living space with a bathroom that is completely unique with a separate shower stall, separate water closet and a modern vanity top sink. The staterooms feature a sophisticated earth-tone palette accented with a splash of color and rich, dark wood. Concealed contour LED lighting and back-lit domed ceilings set a relaxing vibe.

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