UPDATE 1-Norwegian Cruise lifts annual profit forecast on robust travel demand

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- Norwegian Cruise Line Holdings NCLH.N on Thursday raised its annual profit forecast for a fourth time this year, encouraged by strong booking trends for sea-based vacations at higher prices.

Cruise companies have enjoyed robust demand this year as prices that remain more affordable than land-based vacations fuel the post-pandemic appetite for leisure travel.

The company also raised its 2024 net yield, or revenue per cruise day, forecast by 120 basis points to about 9.4%, from its prior outlook of 8.2%, driven by strength across all three brands and itineraries in the second half of the year.

The cruise operator now expects an adjusted profit of $1.65 per share for fiscal 2024, compared with its previous forecast of $1.53.

Shares of the company, which have gained 19% this year, were up nearly 1% in premarket trading.

Royal Caribbean RCL.N also lifted its annual profit forecast on Tuesday for the fourth time this year, benefiting from robust demand.


(Reporting by Savyata Mishra in Bengaluru; Editing by Devika Syamnath)

((Savyata.Mishra@thomsonreuters.com;))

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