Norwegian Cruise Line Holdings

Norwegian Cruise Line Holdings Ltd. (NCLH) is a holding company that is based in the United States and domiciled in Bermuda.[2][3] It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.

History

NCLH was incorporated on February 21, 2011, as a Bermuda exempted company[4] in anticipation of a planned initial public offering (IPO).[5] At the time, Norwegian Cruise Line was owned by a consortium of Genting Hong Kong, Apollo Management and TPG Capital.[5] Following the completion of the IPO in January 2013 and its debut on the Nasdaq,[6][7] Norwegian Cruise Line and NCLH underwent a corporate reorganisation that gave NCLH full ownership of Norwegian Cruise Line,[8] while Norwegian Cruise Line's previous owners exchanged their stakes for shares in NCLH.[8]

Immediately after the initial public offering, public shareholders controlled 13.3% of NCLH, while Genting Hong Kong owned a 43.4% stake, Apollo 32.5%, and TPG 10.8%.[8] In the following years, those three sponsors progressively reduced their stakes through a series of secondary public offerings.[3] By the end of 2014, nearly half of NCLH's shares were publicly owned, with Genting, Apollo and TPG controlling 25%, 24% and 7%, respectively.[9] One year later, combined ownership among the three firms had been cut nearly in half, with Apollo now holding the largest individual stake (15.8%), followed by Genting (11.1%) and TPG (2.4%).[10][11] Eventually, on 3 December 2018, Apollo and Genting sold off their remaining stakes in the company, marking the end of a relationship that lasted more than a decade.[12]

In September 2014, NCLH announced that it had purchased Prestige Cruise Holdings, the parent company of Oceania Cruises and Regent Seven Seas Cruises in cash and stock for a total transaction consideration of $3.025 billion, including the assumption of debt.[13][14][15]

On 9 January 2015, Kevin Sheehan, President and CEO, was succeeded by Frank Del Rio, co-founder of Oceania Cruises.[16]

On 14 December 2015, NCLH was added to the Nasdaq-100 index.[17] However, it later switched its listing from NASDAQ to the New York Stock Exchange on 19 December 2017,[18] and it was removed from the index.[19]

In June 2018, NCLH's Chairman Walter Revell stepped down,[20] and was replaced by Miami Beach developer Russell Galbut.[21]

As of 2018, it is the third-largest cruise operator in the world, collectively controlling 9.5% of the cruise market by passengers and 12.6% by revenue across its three subsidiaries.[22]

On 12 February 2026, NCLH announced that its Board of Directors has appointed John W. Chidsey, a director of NCLH, as President and Chief Executive Officer, effective immediately.[23]

Subsidiaries

NCLH fully owns three subsidiary cruise lines or brands:

• Norwegian Cruise Line
• Oceania Cruises
• Regent Seven Seas Cruises

External links

• Website for NCLH investor information