Norwegian Cruise Line (NYSE:NCLH) said its shares dropped after a downgrade to underweight from equal weight by Morgan Stanley, which cited concerns over how overcapacity could hurt pricing power. Meanwhile, the firm upgraded competitor Royal Caribbean, which added 0.3% in the premarket, to equal weight from underweight.
The line announced early this year “Experiences at Sea,” the union of Sixthman Festivals at Sea, a subsidiary of NCL, and the Company’s Charters, Meetings and Incentives (“CM&I”) division, will host 13 consecutive events over 66 nights in Spring 2023 showcasing the Company’s dedication to providing one of a kind, immersive adventures at sea for a range of passionate affinity communities.
The newly formed “Experiences at Sea” brand will leverage Sixthman’s 21 years of experience from producing over 160 charters focused on creating immersive experiences along with the expertise of the Company’s CM&I team to further serve the Company’s corporate, incentive and affinity-focused clients across all three of its award-winning brands: Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. The division aims to bring guests together to enjoy highly curated, elevated cruise experiences with an emphasis on community, connection and journeys that create memories that last a lifetime.
“As we kick off 2023, we are thrilled to be collaborating with our expansive roster of artists and NCL client partners with a record-breaking 13 back-to-back immersive festival-at-sea cruises aboard Norwegian Pearl, bringing guests from an array of like-minded communities together to experience one-of-a-kind vacations alongside their favorite artists, athletes, actors, comedians and others within their lifestyle,” said Anthony Diaz, CEO of Sixthman and SVP of Charters, Meetings and Incentives for Norwegian Cruise Line Holdings Ltd.
NCLH shares faded 28 cents, or 2.1%, to $13.49.
