Regent Seven Seas Cruises, the luxury brand of Prestige Cruise Holdings, reported record results for the second quarter ended June 30, 2014.
Here are three key financial indicators:
- Revenue reached a record of $142.9 million for the second quarter, compared with $142.7 million for the same period a year ago.
- Net income also was a record at $11.7 million – compared with $6.5 million in the second quarter of 2013.
- Net yield increased 7.8 percent to a record $561.85 for the quarter compared with $521.24 in the second quarter of 2013.
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While occupancy was 95.4 percent, down 1.5 percentage points from a year earlier, capacity during the quarter was also less, due to the Seven Seas Mariner being out of service for six days during a regularly scheduled 10-day drydock in April 2014.
As a result, the line had 167,790 available passenger cruise days compared to 171,990 in the second quarter of 2013.
Frank Del Rio, chairman and CEO, Prestige Cruise Holdings, the parent company of Regent Seven Seas, said the company was very pleased with its financial results including record revenue, net income and net yield, among other factors.
Regent is adding more capacity starting in 2016. In July, construction began on the new Seven Seas Explorer with a steel cutting ceremony at the Fincantieri shipyard in Genoa, Italy.