Page 27 - 2024 CIN Expedition Market Report

EXPEDITION Market

 Expedition activities in Norway

X recently announced plans to further enhance the tinations (hotels and tours in Svalbard) 34 million euros, while
Honboard experience by becoming all-inclusive, starting other revenue sources generated approximately 260,000 euros.
in Antarctica in October, according to Alex Delamare-White, Hurtigruten coastal voyages and destinations produced
chief commercial officer. operating income and EBITDA earnings, while HX reported
The group also started the year following a recapitalization a negative operating income and EBITDA.
transaction, providing new liquidity for a more sustainable Hurtigruten reported 65.7 percent occupancy for the full
capital structure and the resources to implement the opera- year and gross ticket revenues per passenger day of 375 euros,
tional separation of the two brands, according to a company up from 60.2 percent and 356 euros in 2022.
presentation. HX reported 58 percent occupancy and a gross ticket rev-
enue per passenger day of 606 euros, down slightly from 59.7
Performance percent and 614 euros the year before. However, passenger
Hurtigruten reported a loss of 243.3 million euros on rev- cruise days were up significantly year-over-year, from 410,000
enues of 657.8 million euros for the year ended Dec. 31, 2023, in 2022 to 474,000 in 2023.
compared to a loss of 209.4 million euros on revenues of 576.5
million euros the year before. HX Targets
For 2023, Hurtigruten coastal voyages generated 335.9 mil- Going forward, goals outlined for HX were its rebrand-
lion euros in revenue, HX 287.7 million euros, Hurtigruten Des- ing, strengthening of the yield to more than 800 euros per 

Cruise Industry News: 2024 Expedition Market Report 143