Latest news with #NatalyaLeahy
Forbes
6 days ago
- Business
- Forbes
The First Female CEO Of National Geographic-Lindblad Is Making Big Changes
Natalya Leahy, CEO of Lindblad Expeditions Holdings, traveling in the Galapagos Islands, Ecuador. In the cruise industry, there are corner office CEOs. And there are 'in the details' CEOs. Natalya Leahy, the new Chief Executive at National Geographic-Lindblad Expeditions, is squarely in the latter category. Whether she's running full-tilt with passengers trying to make it back to a ship on time, spontaneously ordering pistachio baklava from the best local bakery to be delivered in each cabin, or navigating zodiac boats around the Galapagos, she's not just running the business by the numbers—she's knee deep in the water with a work phone in her pocket, making sure excursions go the way she wants them to go. Since she left her role as President of the luxury cruise company Seabourne, and officially took the helm at the publicly-traded Lindblad Expeditions Holdings in January, it's become abundantly clear: She's here, she's in charge and she wants to win. 'Our guest profile is an affluent person who is highly educated, looking for truly authentic experiences of the world in places that very few will ever go. We can really serve the needs of these guests, 360, with our portfolio of [six] brands. We haven't even scratched the surface to truly understand the scalability of that,' Leahy said in a recent interview. The National Geographic Endurance in the Bourgeouis Fjord, Antarctica Her entrance makes some people, who are life-long fans of (and investors in) Lindblad since Sven Lindblad founded the company in 1979, a bit nervous. Among generations of travelers, he's earned trust as an environmental steward and pioneer of tourist expeditions. Sven's father, Lars-Eric Lindblad, brought private citizens to Antarctica for the first time in history more than five decades ago. Today, the company is a global operation, with a fleet of 23 owned and chartered medium-size ships (ranging from 28 to 148 passengers) that it operates in destinations like the South Pacific, the Galapagos islands, and the Mediterranean. But it's still best known for its navigation know-how in Antarctica, largely because it employs and retains remarkable people like the 'Ice Master' Leif Skog, VP of Marine Operations, who is one in about ten people in the world who have mastered both arctic navigation and mission-built ship design. If you're navigating the Drake passage, he's who you want at the helm. Captain Leif Skog on the bridge of the ship National Geographic Endeavour with guests It's also benefiting from a new co-branding deal with National Geographic (owned by Walt Disney Co.) that was inked before Leahy came onboard. The agreement grants Lindblad Expeditions global rights to the National Geographic brand for expedition cruises until at least 2040. Upon the announcement, Sven Lindblad said: 'We will be demonstrating the power of this new co-brand and improved name recognition, which will be vitally important as we expand our footprint in key growth markets around the world.' It's a pretty big deal, because it means Lindblad can leverage Disney's powerful sales channels and joint marketing campaigns to its advantage—which it needs. The company faces intense competition from operators like HX (formerly Hurtigruten Expeditions), andBeyond, Silversea Expeditions, Seabourne Expeditions, Aurora Expeditions, Antarctica21, and even new luxury cruise lines like Explora Journeys. Though Explora's ships are not ice-class vessels nor are they equipped with Zodiacs for landings in polar regions, demand for what they do means they can still steal market share. Because the term 'expedition' is not protected IP. 'We have competitors that carry 500 people and call it an expedition. This is bollocks,' says Lindblad's Captain Oliver Kruess, claiming that a true expedition ship hosts less than 200 passengers. Regardless, the race to dominate the fastest-growing segment in the $8 billion cruise industry is on. And while most operators cannot afford to build brand-new ships, they're getting ever-more creative with the ships they've got. Cruise analysts say companies that can balance luxury, adventure, and sustainability are likely to see the strongest growth. Guests explore waterfalls by Zodiac in Gothul Bay, South Georgia. Lindblad's expeditions are conducted in partnership with National Geographic's team of 'naturalists'—environmental scientists, historians, photographers and cultural experts—who bring their expertise onboard, joining the standing crew of captains, engineers, technicians, kitchen and cleaning staff who keep things running like a luxury hotel-at-sea. The deep scientific knowledge these people bring to programming, in the way of daily lectures and in-the-field lessons, makes the experience of sailing with Lindblad practically incomparable to what the uninitiated might think of as a 'cruise.' Sure, there are tour buses and the odd fanny pack, depending on the day's excursions. But these expeditions trade on the notion that you're going much further into remote destinations and delving deeper into the natural world than you could ever hope to reach on a sightseeing pleasure cruise. In spirit, it's much more lean-forward than laid back. And the clientele, many of whom are tenured University Professors, military veterans, ex-Navy seals, or otherwise adventurous retirees with means, mirrors that fact. 'They're all geeks! They're all nerds,' joked Maggie Godbold and Steven Bershader, a retired couple in their 70s who sailed on Lindblad's recent Endurance voyage to the Azores islands. They're avid travelers; the kind who would book a flight to witness a solar eclipse. 'I'm not interested in gambling or shopping,' said Godbold. 'That's not why I'm here. I don't consider this a cruise ship. This is an exhibition ship. We've done so many Lindblad trips, we've lost count.' (The company is known for having a high rate of repeat guests). Basically, if you want to not just understand but physically feel the impact of climate change on oceanography (the Azores sail featured 15-foot swells), taste the mineral content of a volcanic hot spring (did you know iron rich water can turn tea purple?), or learn about the chemical composition of lichens, the sound production of sperm whales, the mating habits of Emperor penguins, or the art of telephoto lens photography — you've come to the right place! Natalya Leahy, Chief Executive Officer, traveling in Galapagos Islands, Ecuador. While there have been female CEOs in the broader industry, such as Christine Duffy at Carnival Cruise Line and Lisa Lutoff-Perlo at Celebrity Cruises, Natalya Leahy's appointment marks the first time a woman has led Lindblad Expeditions. Her career arc is a tale of grit, determination and perseverance. She grew up in Soviet Uzbekistan, studied finance at University, and at 17, talked her way into her first gig working in a two-person finance department at the Meridian Hotel in Termez. She then went on to work for the procurement department for Coca Cola, served as United Nations Country Manager for Uzbekistan and eventually earned her MBA from Michigan State. She entered the cruise industry with Holland America Group, where she served as Chief Operations Officer and Chief Financial Officer for about eight years. Then the 'big break' came. As President of the luxury cruise operator Seabourne, when I first met her, she was orchestrating a nearly 40% increase in women ship officers in a classically male-dominated field. She is, after all, a mother of two daughters. Importantly, she has the backing of Sven Lindblad himself, who clearly hired her for her financial experience and publicly demonstrates his support for her in this video filmed in the Galapagos islands. What they don't mention in the video is the difficult financial picture Leahy is inheriting, while Sven still serves as Co-Chair of the Board. Per its first quarter 2025 financial statements, Lindblad has more debt than equity. So, Leahy must either lower debt or increase equity. Typically, you increase equity by generating profits and either use those profits to grow the business or pay down the debt. Shareholders often demand a combination of both, which is easier said than done. Though Lindblad's revenues have rebounded from COVID lows of $147 million in 2021 to about $670 million in 2025, given their very high cost base, they have not turned a profit in five years. As CEO, Leahy needs to get this company to a position of profitability. The good news is its day-to-day business is generating more cash than it did last year. And they have $235.2 million in cash as a liquidity buffer. There are other signs that she's headed in the right direction. As any CEO knows, success can very much depend on the team you assemble. To that end, Leahy made a key hire by tapping the young Harvard MBA grad, CFO Rick Goldberg, who will help Leahy expand their portfolio of ship and land-based expeditions internationally. For example, Leahy claims they're already working on expanding their footprint in Australia. Meanwhile, the company just announced the launch of European river expeditions, beginning April 2026. Two new eight-day itineraries involve sailing along the Rhine from ports in Amsterdam to Brussels and Cologne to Basel, all aboard the 120-guest Connect (constructed in 2025). The company has never offered river expeditions in Europe before, but chartering the latest in modern river ship design seems like a smart move. Expanding access to private charters is another lever to pull, as hard as they can. 'Our private charters program is going to be a huge strategic focus area. Because we have a very unique set of ships that are much smaller, more intimate, and perfect for private groups and corporate events. The smallest ship we just launched a month ago is a 16 passenger yacht, and she's sailing in the Galapagos. That's the perfect ship for a private family event, right?' adds Leahy. 'So we really are driving resources to grow the charter program.' The notion of 'family' cannot be glossed over here. Lindblad must attract younger guests, and become known for 'multi-generational travel' in order to thrive long term. Hence, programs like the Nat Geo Explorers-in-Training for kids, and lower pricing for shoulder and off-season sails. Which is now an industry-wide norm. But, there's something else up her sleeve that she refused to divulge, because it isn't yet a done deal. I first got an inkling of what's-to-come from the Ice Master Leif Skog in April, who—without revealing the details—says he's working on planning new destinations and itineraries for Lindblad that would require serious maritime gymnastics to pull off. Leahy confirmed this, at least in intention: 'This company's collaboration between ship experts, expedition experts and deployment experts is phenomenal… I had a dream for a while that no other company could really do. That's where Captain Leif is heavily involved, because we have the right vessels. If we are able to do it right, it will be a very different bucket list experience.' Different, meaning unprecedented. So says the girl from Uzbekistan who at 17 decided not to accept a receptionist position, and instead forged her own path in finance. In our first sit-down interview last year, she recalled her pivotal moment: 'It was my first year in University, and I desperately needed a job. I came to the [Meridian] hotel, and said: Who is your head of finance? I must have sounded so confident, the way you sound before you know what's appropriate… I knocked on his door, and he said: Do we have an appointment? I said no, but I am looking for a job in your finance department. What kind of finance experience do you have? I don't have any experience, but I started studying finance in this great, prestigious University. And he said: Go downstairs, we have a lot of openings in reception or in food and beverage. I was super scared because I really needed this job, but I told him: "I will never be your best receptionist, but I will be the best finance person you ever hired.' And she wasn't content to stop there.
Travel Weekly
19-05-2025
- Business
- Travel Weekly
Lindblad Expeditions CEO Natalya Leahy on expanding into Europe river cruising
Lindblad Expeditions will launch river cruises on the Rhine next year in partnership with charter-only operator Transcend Cruises. The cruises will sail under the National Geographic-Lindblad Expeditions brand and will be its first time sailing on Europe's rivers. River cruise editor Brinley Hineman spoke with Lindblad Expeditions CEO Natalya Leahy about the company's foray into the market and what it hopes will be just the beginning of the venture. Natalya Leahy Q: Lindblad is known for expedition cruising. How will you apply that approach to the Rhine? A: We don't just take people to places, we show them how to see it. Everywhere we go, we surround people with true experts who can explain and guide our guests on how to see the place, how to fully appreciate the history, the cultures and nature, the wildlife of the location, how to photograph it. And that extends onboard, as well. Q: How will this differ from other Rhine cruises? A: I really believe it's going to be a very unique experience. Sophisticated travelers are looking for very authentic, intimate experiences of the destinations when they go to places like this, and I think that's exactly what we are planning to offer: an intimate, sophisticated, enriching destination and experience, both off and on the ship. Q: You already operate river cruises on the Nile and the Amazon. What led you to expand to Europe? A: River cruising is something that we know from extensive research that our guests desire, but they don't want to do it on this mass product that's available. They want to do with the intimacy of a small ship and, really, in that National Geographic way, when they're in a small group with true experts from destinations. The company, even before I joined, had been sort of thinking through this. I also had been intrigued for awhile, even before I joined Lindblad, because I do think there is something about creating a more intimate, more in-depth experience that is not yet on the market. ... The European rivers are just a natural extension of what we have already done, and that desire to experience the history and the culture of the place with National Geographic experts has been confirmed multiple times. Q: What led you to charter with Transcend Cruises? A: It just makes sense to partner with a great partner who already has a perfect ship for us, rather than invest our own capital. That's the reason we did a long-term agreement, because we really do believe that this is a long-term commitment to the destination and will continue to grow. It's important for our partner that it's a long-term relationship, but it's also important for us because we can really invest behind it and promote the destination. ... It just makes sense to have it through charter. It's significantly faster execution but also enables us to really synchronize it with the other destinations we offer to our guests so they don't conflict. Q: The plan you announced calls for two Rhine itineraries, each with four departures, starting in 2026. Are you considering expansion? A: For sure, 100%. That's why it's a three-year agreement. So we plan to start with eight voyages that we are publicizing now, and for sure the ambition is in '27 to offer more, and '28, hopefully, to offer more. We want to expand summer and then, hopefully, some winter. I think that people will love Christmas markets.
Travel Weekly
13-05-2025
- Business
- Travel Weekly
National Geographic-Lindblad reveals Rhine itineraries, envisions expansion
Lindblad Expeditions only last week announced a partnership with Transcend Cruises to add Europe river cruising, and the companies already are talking expansion. The partners will start out with two Rhine itineraries -- four departure dates for each one -- on the Transcend Connect in 2026. The Rhine cruises will operate under the National Geographic-Lindblad Expeditions brand. "We really do believe that this is a long-term commitment to the destination and we will continue to grow," said Lindblad Expeditions CEO Natalya Leahy. She aims to expand Europe offerings in 2027 and 2028, hinting that Christmas market cruises are on the horizon. The two Rhine itineraries will start at $6,450 per person. "The Rhine River: Castles, Culture and Culinary Delights" will spend eight days traveling through the Rhine Gorge; Mainz, Frankfurt and Heidelberg in Germany; and France's Alsace region. The cruise features a visit to the Rheinstein Castle in Germany, where guests will be treated to a champagne reception hosted by the castle's lord; private wine tastings throughout the cruise; and a private tour of writer Johann Wolfgang von Goethe's home in Frankfurt. "Holland and Belgium: Medieval History and Scenic Waterways" will bring passengers to the region's tulip fields, windmills and storybook towns across eight days. Itinerary highlights include a sea of more than 7 million tulips, daffodils and hyacinths at Keukenhof, one of the world's largest flower gardens, in Lisse; and a food tour of Belgian specialties. Transcend Cruises will launch next year with two ships, the Connect and the Evolve. The brand has promoted its ships as an ideal setting for meetings and other groups, but chief revenue officer Kimberly Daley said the brand's model was also developed with tour operators in mind due to the flexibility of the ships' cabin formations and the ability to customize itineraries. The partnership was formed after Daley began outreach to tour operators about Transcend's charter-only model. Daley said building river cruise itineraries for tour operators is "inherently difficult" for cruise lines that already have scheduled departure dates. She has a tour operator background, including stints at Pleasant Holidays, Mountain Travel Sobek and Abercrombie & Kent. Transcend has plans to add two ships per year to its fleet, eventually having between 10 and 12 vessels sailing the Rhine, Danube, Main and Moselle, with eventual expansion beyond those rivers, Daley said. Leahy said "it just makes sense" to charter ships and that building its own river ships is unlikely to happen in the near future. National Geographic-Lindblad is positioning the sailings as expert-led expedition cruises with a focus on deep exploration of the places visited. Each sailing will have an expedition leader, several field staff and at least one National Geographic expert.
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Travel + Leisure
13-05-2025
- Business
- Travel + Leisure
This Expedition Cruise Line Is Launching European River Trips for the First Time
National Geographic-Lindblad Expeditions will launch European river cruises in 2026, with two different itineraries on the Rhine River that will visit iconic destinations including Amsterdam; Cologne, Germany; and Strasbourg, France. While Lindblad has offered other river cruises in the past—on the Nile, for example—the new Europe trips will be the first of their kind for the nearly 60-year-old company, CEO Natalya Leahy told Travel + Leisure. 'Our guests want a European river-cruise experience, but they want to do it in our National Geographic, more in-depth, more authentic way,' Leahy said. 'We don't just take people to destinations, we show them how to see it with our team of experts, historians, and photographers.' The company will offer two options, each with a specific focus. The first is a swing through Belgium and the Netherlands, with stops in Amsterdam, Rotterdam, Ghent, Antwerp, and Brussels, among other cities. Activities include walking tours, cooking demonstrations, and visits to museums—including some that Lindblad guests will visit after hours and without crowds. 'We have a really intense destination experience,' Leahy explained. 'We are designed for learners, for enrichment seekers, for people who are looking to have a really, truly deep authentic experience.' The second option is an itinerary between Cologne, Germany and Basel, Switzerland, through what's known as the Rhine Gorge, a dramatically scenic stretch of the river that's recognized by UNESCO as a World Heritage Site. Destinations on these trips include Cologne, Frankfurt, and Strasbourg. Lindblad will be operating these sails aboard the newly built, 60-cabin Connect, in partnership with Transcend Cruises, a charter specialist. The ship will accommodate 120 guests, with 54 staff and crew, with the choice of 210-square-foot cabins or 420-square-foot suites. The ship will have a main restaurant, as well as a top-deck grill, several lounges, a yoga studio, an outdoor cinema, a spa, and a fitness center. Bikes will be available for guests interested in pedaling independently. Leahy told T+L that the smaller size of the ship will make it feel similar to other Lindblad vessels. 'You will never feel like you're with a bunch of tourists on a big bus,' she said. 'You will feel part of a community.' The 2026 European season for Lindblad will begin in April, with eight sailings, as the company ramps up in the years ahead. 'Our ambition is to expand,' Leahy said. 'I really want to do the Christmas markets as well, that would be fantastic.' Eight-day European river cruises with National Geographic-Lindblad Expeditions from $6,450 per person.
Yahoo
31-03-2025
- Business
- Yahoo
Unpacking Q4 Earnings: Lindblad Expeditions (NASDAQ:LIND) In The Context Of Other Travel and Vacation Providers Stocks
Quarterly earnings results are a good time to check in on a company's progress, especially compared to its peers in the same sector. Today we are looking at Lindblad Expeditions (NASDAQ:LIND) and the best and worst performers in the travel and vacation providers industry. Airlines, hotels, resorts, and cruise line companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted from buying "things" (wasteful) to buying "experiences" (memorable). In addition, the internet has introduced new ways of approaching leisure and lodging such as booking homes and longer-term accommodations. Traditional airlines, hotel, resorts, and cruise line companies must innovate to stay relevant in a market rife with innovation. The 19 travel and vacation providers stocks we track reported a satisfactory Q4. As a group, revenues beat analysts' consensus estimates by 2.2% while next quarter's revenue guidance was 6.9% above. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 17.3% since the latest earnings results. Founded by explorer Sven-Olof Lindblad in 1979, Lindblad Expeditions (NASDAQ:LIND) offers cruising experiences to remote destinations in partnership with National Geographic. Lindblad Expeditions reported revenues of $148.6 million, up 18.5% year on year. This print exceeded analysts' expectations by 10.2%. Despite the top-line beat, it was still a mixed quarter for the company with full-year revenue guidance exceeding analysts' expectations but a significant miss of analysts' adjusted operating income estimates. Natalya Leahy, Chief Executive Officer, commented, "Experiencing our ships firsthand, I was both humbled and inspired by the truly unmatched adventures we offer, from the most agile and immersive expeditions to the warmth and intimacy of the atmosphere onboard. Lindblad Expeditions pioneered and perfected exploration in the world's most awe-inspiring destinations. 2024 was not only a record year, it was also a foundational one for future growth. With a strengthened Disney/National Geographic relationship, expanded capacity in core markets, and the increased scale of our six-brand portfolio, we are entering 2025 with strong tailwinds. This year, we are focused on driving demand, innovating smartly on costs, and unlocking new portfolio opportunities to further expand our reach and impact." Lindblad Expeditions pulled off the biggest analyst estimates beat and highest full-year guidance raise of the whole group. Still, the market seems discontent with the results. The stock is down 6% since reporting and currently trades at $9.51. Is now the time to buy Lindblad Expeditions? Access our full analysis of the earnings results here, it's free. With attractions ranging from glacier tours in the Canadian Rockies to an oceanfront geothermal lagoon in Iceland, Pursuit Attractions and Hospitality (NYSE:PRSU) operates iconic travel experiences, experiential marketing services, and exhibition management across North America and Europe. Pursuit reported revenues of $45.8 million, down 84.3% year on year, outperforming analysts' expectations by 8.8%. The business had a stunning quarter with an impressive beat of analysts' EPS estimates and full-year EBITDA guidance exceeding analysts' expectations. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6% since reporting. It currently trades at $34.91. Is now the time to buy Pursuit? Access our full analysis of the earnings results here, it's free. Founded in 1957, Hyatt Hotels (NYSE:H) is a global hospitality company with a portfolio of 20 premier brands and over 950 properties across 65 countries. Hyatt Hotels reported revenues of $1.60 billion, down 3.5% year on year, falling short of analysts' expectations by 3.1%. It was a softer quarter as it posted a significant miss of analysts' adjusted operating income and EPS estimates. Hyatt Hotels delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 25.5% since the results and currently trades at $120.86. Read our full analysis of Hyatt Hotels's results here. Sporting a roster of beachfront properties, Playa Hotels & Resorts (NASDAQ:PLYA) is an owner, operator, and developer of all-inclusive resorts in prime vacation destinations. Playa Hotels & Resorts reported revenues of $218.9 million, down 9.7% year on year. This number surpassed analysts' expectations by 1.3%. Overall, it was a strong quarter as it also logged an impressive beat of analysts' EPS estimates and a decent beat of analysts' EBITDA estimates. The stock is flat since reporting and currently trades at $13.34. Read our full, actionable report on Playa Hotels & Resorts here, it's free. Boasting outrageous amenities like a planetarium on board its ships, Carnival (NYSE:CCL) is one of the world's largest leisure travel companies and a prominent player in the cruise industry. Carnival reported revenues of $5.81 billion, up 7.5% year on year. This result topped analysts' expectations by 0.9%. It was a strong quarter as it also put up a solid beat of analysts' EPS estimates and an impressive beat of analysts' adjusted operating income estimates. The stock is down 9.2% since reporting and currently trades at $19.25. Read our full, actionable report on Carnival here, it's free. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Join Paid Stock Investor Research Help us make StockStory more helpful to investors like yourself. 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