MIAMI (Jan. 15, 2019) -- Regent Seven Seas Cruises®, the leading luxury ocean cruise line, today announced an order with Italy’s Fincantieri S.p.A. to build another stunning cruise ship that will continue to set the standard for defining elegance at sea. With delivery scheduled in late 2023, the new vessel will be a sister ship to the award-winning Seven Seas Explorer®, the most luxurious ship ever built, and Seven Seas Splendor™, the ship that perfects luxury.
Accommodating up to 750 guests, the intimate and spacious new ship will be Regent Seven Seas Cruises’ sixth-all-suite vessel. Details about her itineraries, suites, restaurants, 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.
“Since debuting in 2016, Seven Seas Explorer has solidified her reputation as the most luxurious ship ever built based on the continuous awards and guest accolades she earns,” said Jason Montague, president and chief executive officer of Regent Seven Seas Cruises. “When Seven Seas Splendor’s inaugural season went on sale in April 2018 we set a new single-day booking record for our 26-year-old company, demonstrating the anticipation for her 2020 arrival. Each new ship is progressively more successful. 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.”
Montague added, “Over the past 12 months Regent Seven Seas Cruises has completed a $125 million remodeling of our fleet, started construction on Seven Seas Splendor™, unveiled our 2020-2021 Voyage Collection with 167 itineraries and new ports, introduced new relaxed outdoor evening dining venues on our ships, debuted the most immersive luxury Cuban voyage itineraries, revealed Go Local Tours and Regent Choice small group shore excursions, and now we announce one more category-defining luxury cruise ship. 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. Regent Seven Seas Cruises is owned by Norwegian Cruise Line Holdings Ltd., which also owns Norwegian Cruise Line and Oceania Cruises.
“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.”
Fincantieri is currently building Seven Seas Splendor™ at its Ancona, Italy shipyard, with relentless focus on perfecting every detail during construction so the ship’s inspired design truly dazzles guests as a work of art.
“This agreement is the perfect seal of the work our Group has carried out over the years and the role we have gained in the market. We are able to enter and maintain a reference market presence in every niche, including the most unique and competitive ultra-luxury one in which Regent Seven Seas Cruises operates. Quality is the shipowner’s hallmark and it entrusted Fincantieri once again,” stated Giuseppe Bono, CEO of Fincantieri.
About Regent Seven Seas Cruises
Regent Seven Seas Cruises is the world’s most inclusive luxury experience with a modern, six-ship fleet that visits more than 450 iconic and immersive destinations around the world. The cruise line’s fares include all-suite accommodations, round-trip business-class air on intercontinental flights from U.S. and Canada, the largest collection of free, unlimited shore excursions, unlimited internet access, highly personalized service, exquisite cuisine, fine wines and spirits, prepaid gratuities, ground transfers and one-night, pre-cruise hotel package for guests staying in Concierge-level suites and higher. In 2018 the cruise line concluded a $125 million refurbishment program of Seven Seas Mariner, Seven Seas Voyager and Seven Seas Navigator to elevate the fleet’s elegance to the benchmark set by Seven Seas Explorer and, in 2020, Seven Seas Splendor™.
About Fincantieri S.p.A.
Fincantieri is one of the world’s largest shipbuilding groups and number one by diversification and innovation. It is leader in cruise ship design and construction and a reference player in all high-tech shipbuilding industry’s sectors, from naval to offshore vessels, from high-complexity special vessels and ferries to mega-yachts, ship repairs and conversions, systems and components production and after-sales services. Headquartered in Trieste (Italy), the Group has built more than 7,000 vessels in over 230 years of maritime history. With almost 19,000 employees, of whom more than 7,800 in Italy, 20 shipyards in 4 continents, today Fincantieri is the leading Western shipbuilder. It has among its clients the major cruise operators, the Italian and the U.S. Navy, in addition to several foreign navies, and it is partner of some of the main European defense companies within supranational programmes. Visit www.fincantieri.com for more information.
About Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. With a combined fleet of 26 ships with approximately 54,400 berths, these brands offer itineraries to more than 450 destinations worldwide.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this release constitute forward-looking statements within the meaning of the U.S. federal securities laws intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this release, including, without limitation, those regarding expected fleet additions, financing and financial performance, are forward-looking statements. Many, but not all, of these statements can be found by looking for words like “expect,” “anticipate,” “goal,” “project,” “plan,” “believe,” “seek,” “will,” “may,” “forecast,” “estimate,” “intend,” “future” and similar words. Forward-looking statements do not guarantee future performance and may involve risks, uncertainties and other factors which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; adverse incidents involving cruise ships; adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; the spread of epidemics and viral outbreaks; our expansion into and investments in new markets; the risks and increased costs associated with operating internationally; breaches in data security or other disturbances to our information technology and other networks; changes in fuel prices and/or other cruise operating costs; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; the unavailability of attractive port destinations; evolving requirements and regulations regarding data privacy and protection and any actual or perceived compliance failures by us; our indebtedness and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; our inability to recruit or retain qualified personnel or the loss of key personnel; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; our reliance on third parties to provide hotel management services to certain ships and certain other services; future increases in the price of, or major changes or reduction in, commercial airline services; amendments to our collective bargaining agreements for crew members and other employee relation issues; our inability to obtain adequate insurance coverage; future changes relating to how external distribution channels sell and market our cruises; pending or threatened litigation, investigations and enforcement actions; our ability to keep pace with developments in technology; seasonal variations in passenger fare rates and occupancy levels at different times of the year; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under "Risk Factors" in our most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q and subsequent filings by Norwegian with the Securities and Exchange Commission. The above examples are not exhaustive and new risks, uncertainties and other factors may emerge from time to time. Such forward-looking statements are based on our current beliefs, assumptions, expectations, estimates and projections regarding our present and future business strategies and the environment in which we expect to operate in the future. These forward-looking statements speak only as of the date made. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change of events, conditions or circumstances on which any such statement was based, except as required by law.
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