Alex (Yucheng) Xiang Promoted to Managing Director of China
David Herrera to Return to Headquarter Offices to Lead Strategy and Corporate Development
Shanghai, China – January 9, 2018– Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) (the “Company”) today announced enhancements to the organizational structure of its Asia Pacific operations that will enable it to further leverage the extensive corporate resources and expertise already in place in the region and continue to strengthen its presence in the Chinese cruise market.
Steve Odell, Senior Vice President & Managing Director Asia Pacific, has expanded his role to include the Company’s China operations along with the greater Asia Pacific region. Alex (Yucheng) Xiang has been promoted to Managing Director of the Company’s China operations, reporting to Odell. David Herrera, previously President of the Company’s China operations and based in Shanghai, will relocate back to Miami as Senior Vice President of Strategy and Corporate Development.
Since establishing the Company’s offices in Shanghai and Beijing in 2015 and working closely with travel partners and government officials, Herrera has positioned the Company for long-term success in China. Under Herrera’s leadership, the team successfully launched the first Norwegian Cruise Line ship based in China, Norwegian Joy, in 2017. With an established local team, a ship purpose-built for the Chinese cruise market, and a commitment to delivering on Norwegian Cruise Line’s ‘First Class at Sea’ promise, Herrera and his team achieved the fastest growth of any market for the Company in 2017. Carrying this momentum forward, Norwegian Joy will sail its first full year in the market in 2018, essentially doubling the Company’s capacity in the region. As he takes on this new role, Herrera will report directly to Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd.
“In his expansive new role, David will preside over our global corporate initiatives from our headquarters in Miami,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “Since our announcement to enter the Chinese cruise market, David has led our local efforts and has positioned us for continued growth. We are thrilled with what he and the team have achieved in China and look forward to further success in this market.”
As part of this new organizational structure, Alex (Yucheng) Xiang, has been promoted to Managing Director of the Company’s China operations and will serve as the first senior officer in the region. Xiang has been with the China team since day one as Vice President of Sales and has played a critical role in the region’s success to date. His promotion is effective February 2 when he will assume leadership of the dedicated teams in Shanghai and Beijing. Prior to joining the Company, he held a number of senior executive roles in sales, marketing, and business development, including Deputy General Manager, Sales & Marketing in China for Royal Caribbean Cruise Service (China) Co. Ltd.
“We are thrilled to have someone of Alex’s caliber to lead our operations in China,” said Harry Sommer, Executive Vice President, International Business Development for Norwegian Cruise Line Holdings Ltd. “I have worked closely with Alex since he joined the team, and he has been an integral part of every success we have achieved. I have full confidence that Alex will continue the great work David started in the region and continue to lead our China team from one success to the next.”
Steve Odell will take on an expanded role overseeing the greater Asia Pacific region, including China. Odell joined the Company in October 2015 to spearhead the launch of the Company’s Asia Pacific headquarters in Sydney bringing with him 30 years of cruise industry experience, 17 of those in Asia. In his expanded role he is responsible for the strategic expansion, vision, and continued growth of the Company’s presence in the fast growing Asia Pacific market. He is currently Chairman of CLIA Australasia and a founding board member of the Asia Cruise Association. Odell will continue to report to Harry Sommer.
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 25 ships with approximately 50,400 berths, these brands offer itineraries to more than 510 destinations worldwide. The Company will introduce seven additional ships through 2025, and has an option to introduce two additional ships for delivery in 2026 and 2027.
Norwegian Cruise Line is the innovator in cruise travel with a 50-year history of breaking the boundaries of traditional cruising. Most notably, Norwegian revolutionized the cruise industry by offering guests the freedom and flexibility to design their ideal cruise vacation on their schedule with no set dining times, a variety of entertainment options and no formal dress codes. Today, Norwegian invites guests to enjoy a relaxed, resort- style cruise vacation on some of the newest and most contemporary ships at sea with a wide variety of accommodations options, including The Haven by Norwegian®, a luxury enclave with suites, private pool and dining, concierge service and personal butlers. Norwegian Cruise Line sails around the globe, offering guests the freedom and flexibility to explore the world on their own time and experience up to 27 dining options, award-winning entertainment, superior guest service and more across all of the brand’s 15 ships.
Oceania Cruises offers an unrivaled vacation experience renowned for the finest cuisine at sea and destination-rich itineraries that span the globe. Expertly crafted voyages aboard designer-inspired, intimate ships call on ports across Europe, Asia, Africa, Australia, New Zealand, the South Pacific and the Americas.
Celebrating its 25th anniversary in 2017, Regent Seven Seas Cruises offers the industry’s most inclusive luxury experience aboard its all-suite fleet. A voyage with Regent Seven Seas Cruises includes all-suite accommodations, round-trip domestic air and business-class air on intercontinental flights from U.S. and Canada, highly personalized service, exquisite cuisine, fine wines and spirits, unlimited internet access, sightseeing excursions in every port, gratuities, ground transfers and a pre-cruise hotel package for guests staying in concierge-level suites and higher.
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 our business strategy, financial position, results of operations, plans, prospects and objectives of management for future operations (including expected fleet additions, development plans, objectives relating to our activities and expected performance in new markets), 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 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; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and/or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; 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; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; 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 and subsequent filings by the Company with the Securities and Exchange Commission. The above examples are not exhaustive and new risks 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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