Norwegian Cruise Line Holdings Ltd. (NCLH) reports that its CEO Frank Del Rio’s total compensation for 2017 was $10.5 million.
Cruise executive Del Rio received compensation valued at $2.9 million in 2016, down from almost $32 million in 2015. According to Seatrade Cruise News, Mr. Del Rio received compensation valued at $31.9 million in 2015, including nearly $17.8 million in stock options and $10.3 million in stock awards. His cash income was about $4 million including a salary of over $1.8 million, and a bonus of $1.9 million. Other compensation of $140,651 included a cash automobile allowance, tax preparation service and a country club membership.
HCLH’s first quarter returns for this year include revenues of $1,293.4 million, and a 13.1% increase in passenger ticket revenues to $889.87 million.
In an article in Skift today titled Norwegian Cruise CEO Sees No Signs of Recession, Del Rio disputed the standard worry among cruise industry investors these days "that a recession might loom as the global fleet is growing, potentially leading to costly new ships with a public too cash-strapped to sail on them."
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Photo credit: Frank Del Rio – Mark Elias/Bloomberg via Getty Images and Storify.