Lindblad Expeditions Holdings, Inc. (NASDAQ:LIND) Q1 2024 Earnings Call Transcript

Sven-Olof Lindblad: Yeah. Well, Antarctica is about as remote as you’re gonna get. But, there is competitive price pressure, but we’re doing very well in Antarctica. So I’m not I’m not, — despite the fact that there’s an overwhelming number of shifts down there, we’re doing we’re doing well. And one of the one of the — one of the reasons why is because we’ve really — like what we did with developing our fly-in program for one of our so we had the dilemma where we had a ship that was an older ship, very nice ship, by the way, the National Geographic Explorer, next to our two new ships, the National Geographic Endeavor and the National Geographic Resolution. And there’s a natural inclination on the part of people who wanna buy something that’s new.

So the ships were doing well and the Explorer was lagging a little bit behind just because, again, she was older and not the new thing. So what we did is we created a whole different program, incorporating the fly into Antarctica, allowing people with less time to go there. And that was the perfect counterpoint to the dilemma. We didn’t, like, discount it. We just changed the idea. And people just bought it, and it filled up instantly, essentially, instantly. And so there are lots of levers you can deploy in order to change your destiny. And it isn’t just, obviously, it isn’t just price. Geography is absolutely key or how you operate in a particular geography. So there are variety of ways you can kind of get the job done. In this case, it was by creating a totally, totally new idea.

So the Explorer and the new ships were in fact not in competition anymore.

Alex Fuhrman: Okay. Great. That’s really helpful. Thank you very much.

Operator: We have no further questions. So I’ll hand back to the management team to conclude.

Craig Felenstein: Thank you, operator, and thank you everybody again for joining us today. And thank you for your support for the past seven and a half years, and I look forward to finish up the next month. And if you have any questions, please let me know and let us know, and we’re happy to answer them, today or in the future. Thank you.

Sven-Olof Lindblad: Many thanks, guys.

Operator: Thank you very much. This concludes today’s call. [Operator Closing Remarks].