Lindblad outlines NatGeo/Disney push, opportunity to buy ships

A 'sweeping' omni-channel marketing campaign with National Geographic/Disney is set for Lindblad Expeditions in early 2025, and CEO Sven Lindblad sees future opportunity to acquire ships at attractive rates.

Noting the industry 'fervor for building new expedition ships seems to have abated,' he pointed out the Lindblad fleet was built by acquiring hardware at 'very, very reasonable rates.'

Lindblad expects expedition ships will become available 'because certain companies have not been successful.' So further growth will be a question of newbuilds or buying pre-owned tonnage.

'We're kind of excited to think about the opportunity for ships that have already been built that may become available,' Lindblad said Tuesday during his company's third quarter earnings call.

Largest marketing push in company history

The new National Geographic-Lindblad Expeditions co-branding will be fully implemented by year's end and, in early 2025, a 'sweeping omni-channel consumer and trade marketing campaign, the largest in our history, powered by the reach of the Walt Disney Company,' will break out, Lindblad told analysts.

As part of this, Disney led the ideation, creation and funding of a major commercial shoot in the Galápagos Islands that will feature in a multimillion-dollar advertising campaign to be launched in the new year. (The Galápagos fleet will be growing with two yachts acquired from Celebrity Cruises, and Lindblad touted the widest range of itineraries available in the archipelago.)

Related:Lindblad's Q3 sails past forecasts on higher capacity utilization, pricing

This month, he'll be leading journalists and influencers on a new Antarctica fly-cruise program that's sold so well a second ship will be added in the 2025/26 season.

EarMarked travel advisors

Lindblad trips are now included in Disney's travel advisor loyalty program, EarMarked, and Sven Lindblad delivered the keynote address to members' annual summit in October, an 'incredible opportunity' to interact with hundreds of advisors. Already the line is seeing interest from EarMarked agencies in booking expeditions, and they'll get the same benefits as when making Disney bookings.

In 2025, marketing will be ramped up to Disney audiences including Disney Visa cardholders, D23, Disney Cruise Line, Disney Vacation Club and other entities.

International sales launch

Capitalizing on the international awareness of National Geographic, Lindblad is boosting international sales efforts, starting in Great Britain with a recent GSA appointment. Sven Lindblad said there are opportunities to also target the Netherlands, Belgium and Switzerland, where there are many English-speaking travelers, and in India, as well as offering some charters for the China market.

When it comes to European sales, the polar regions, Galápagos and Alaska are expected to be especially appealing destinations.

Families and river-cruise opportunities

With families 'the sweet spot for Disney,' Lindblad Expeditions will also focus on that market, and further river-cruise charters are possible.

Price integrity

Sven Lindblad underscored his commitment to maintaining price integrity in the face of industry discounting. He forecast, in 2026, a return to historic occupancy levels (upper 80s/low 90s). In Q3, occupancy went up a point, to 82%.

New dynamic pricing technology enabled Lindblad Expeditions to raise pricing in 2024, and fares for Alaska in 2025 have already been adjusted five or six times.

'We have a Ferrari and I don't think we're professional drivers yet, but we're getting pretty close,' interim CFO L. Dyson Dryden quipped about the new technology.