Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the “Company” or “Lindblad”), a global provider of expedition cruises and adventure travel experiences, announced today that it has expanded its agreement with National Geographic Partners (“National Geographic”) to include all of the Americas.
The relationship between Lindblad and National Geographic, founded in 2004 and steeped in a shared interest in exploration, research, technology and conservation, includes co-selling, co-marketing and branding arrangements that run through 2025. With the addition of the Canada and Latin America markets to the existing agreement covering the United States, Australia and New Zealand, Lindblad and National Geographic have further deepened their long-term strategic partnership and will collectively invest to further accelerate growth in these important geographies.
The United States has long been the primary source market for Lindblad, and with the rapidly accelerating demand for authentic and immersive experiential travel the Company certainly expects significant domestic growth for years to come. At the same time, many of the trends powering the increase in expedition travel in the United States are manifesting themselves globally as well, and deepening expansion into select international markets is a core part of Lindblad’s growth strategy.
The expanded collaboration with National Geographic provides an opportunity for Lindblad and National Geographic to leverage the strong brand position National Geographic holds in Canada and key Latin American markets, while at the same time building upon Lindblad’s long-established leadership position in the United States expedition travel market.
Given the accelerating demand for high quality and authentic expedition travel and the expanded agreement with National Geographic, Lindblad’s Board of Directors recently approved the build of an additional blue water vessel to explore the world’s most unique and remote locations. This state of the art vessel, which is anticipated to be delivered in 2021, will be the next step in the Company’s fleet expansion following the launch of the National Geographic Quest in July 2017, the addition of the National Geographic Venture to the fleet in December 2018 and the delivery of the National Geographic Endurance in the first quarter of 2020.
Sven-Olof Lindblad, President and Chief Executive Officer, said “Lindblad has been a pioneer in expedition travel for fifty years. By extending our successful partnership with National Geographic, energizing new markets and expanding our fleet, we are taking the next steps in our long-term growth strategy. Our experience and track record in delivering unparalleled experiences in the world’s most amazing locations ideally positions us to capitalize on the explosive growth in high quality adventure travel.”
“National Geographic and Lindblad Expeditions have, over the past 14 years, found an extraordinary level of common cause. This manifests itself in knowing the importance of people exploring the world, building understanding and becoming more knowledgeable and energized citizens,” says Gary E. Knell, CEO of National Geographic Partners. “Our collaboration goes far beyond business, into education, conservation and storytelling through expedition travel. We know collectively that our partnership’s goal is to consistently grow the number of people who explore our world and that’s why we’re so excited to expand our partnership to include the Canadian and Latin American markets.”
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