A Wall Street Transcript Interview with Kevin Sheehan, the Chief Executive Officer and President of Norwegian Cruise Line Holdings (NCLH)

Wall Street Transcript

67 WALL STREET, New York - February 20, 2014 - The Wall Street Transcript has just published its 2013 IPOs Report offering a timely review of companies new to the stock market. This special feature contains expert industry commentary through in-depth, detailed interviews with CEOs and senior executives of new public companies. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

Topics covered: Initial Public Offerings - IPOs

Companies include: NCLH and many others.

In the following excerpt from the 2013 IPOs Report, the CEO of Norwegian Cruise Line Holdings gives a detailed strategic plan for his company for investors:

TWST: Can we start with a brief overview of Norwegian Cruise Line's business?

Mr. Sheehan: We are actually the founders of the cruise industry as we know it today. The industry goes back very far with what used to be people taking cruises across the Atlantic Ocean. Norwegian was the one that started regular weekly sailings 47 years ago with cruising to the Caribbean from Miami, so it's a long history, and the industry has gone through a lot of change. In fact the father of the Chairman of Carnival actually started this company with a Norwegian guy and then left eventually to start what is now Carnival Corporation.

Today we have 13 ships that are all very new. We have the youngest fleet in the industry by a long shot and will continue on that path, as we've got a couple of more ships coming out in the next few years. This positions us with a competitive advantage, because most cruisers today like new ships. There are three competitive advantages for our company. One is the youthfulness of the fleet, the second is our Freestyle Cruising, and the third is our crew.

When the company came out with Freestyle Cruising, it sounded very complicated, especially when the preponderance of people have never cruised. So saying you're something that's different than the other players in the industry without the majority of people having been on a cruise was one of the things that held the company back in my view. Over the years we've clarified the brand proposition by turning around the message.

Now we say clearly that Freestyle Cruising stands for freedom, flexibility and choice, so it's a resort-casual kind of vacation experience. When you're on the ship, you have no set structure, your dining is at your schedule versus the rest of the industry, where they have early seatings and late seatings, followed by a show in the theater and then you go to bed. That's the old formula. On our ships you go to any of a variety of restaurants - our new ships have as many as 28 dining options - and you set your schedule around whatever activities you want to go to. And you don't have to get dressed up. It's just what we think the consumer of tomorrow is looking for, as vacationers don't want to be told what to do and when to do it...

For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.

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