Lindblad is contemplating the further expansion of its fleet as the expedition cruise line reported record third quarter results which “set the stage for another year of double digit growth in 2024″.
With the company also targeting a return to historic guest levels by 2026 after the set-backs of the pandemic, additional capacity is on its mind, according to Founder and CEO, Sven-Olof Lindblad.
“The company was originally built by purchasing ships that had failed in other enterprises at very, very reasonable rates,” he told an earnings call this week. “I would imagine that in the future there is going to be again inventory available because certain companies will not have found that business successful.
“Our job is to look at the future from the perspective of building new or acquiring ships that have already been built and we’ve had a good deal of experience in both of those lanes so we’re excited about the opportunity to think about ships that have already been built that may become available.”
In June, Lindblad confirmed its acquisition of two former Celebrity Cruises ships which will sail in the Galapagos under new names National Geographic Gemini and National Geographic Delfina in March and February 2025 respectively, after extensive revitalisations. Bookings for these itineraries opened in July and Lindblad confirmed they have so far “exceeded expectations”.
Subscribe to LATTE Cruise’s free eNewsletter to keep up to date with everything in the luxury cruise space.Land continues to be a major focus for Lindblad with the company focused on actively growing its portfolio of land products. The quarter saw revenue from bookings of its land product rise 26% on the same quarter in the previous year which Lindblad attributed primarily to an increase in guest numbers, higher pricing and the completion in August of its acquisition of Wineland-Thompson Adventures, its fifth land company.
“We are thoroughly committed to continuing this strategy of finding compatible companies that expand both diversity and scale in the land segment and fully take advantage of the fact that our travellers are omnivorous in their interests and keeping this interest in the family so to speak is a sound approach,” Lindblad said.
Family travellers are also firmly in the company’s sights, with the new 17-year co-branding arrangement signed with National Geographic and Disney in 2023 expected to fuel growth in this area.
As part of this arrangement, the company debuted its new name and refreshed co-branded identity, National Geographic-Lindblad Expeditions, in September.
“The power of this new cobrand will be vitally important as we expand our footprint in key markets around world,” Lindblad said. “This long-term agreement is not yet a year old and we are in the beginning stages of capitalising on its full potential.”
The roll-out of its cobranded identity and logo will be complete by the end of this year, with 2025 to see the largest omnichannel marketing campaign in the company’s history, according to Lindblad.
