Shares of the cruise line's leader have rebounded strongly in 2019, bouncing back from the Christmas Eve bottom that struck many stocks.
Kempa told Real Money's Kevin Curran that the stock should only trend further upward as droves of late Baby Boomer's retire and take up cruising at the later stages of their life.
"If you took Orlando and Las Vegas and combined those two destinations alone, there is more rooms there than there is in the entire global cruise industry footprint," Kempa explained. "Only 2% of the world traveling population has been on a cruise, only 8% of North Americans."
He said that the the company is really only touching the tip of the iceberg in terms of consumer reach, leaving it a lot of room to grow, which is in part motivating its expansion of a newer, larger fleet.
Further, he set the ship's course for the profitable and under-penetrated millennial cruising population.
"Our biggest growing consumer right now is really the the millennials as you know they make up roughly 28 percent of today's population," Kempa said. "On our Norwegian brand roughly 25 percent of our passengers are millennials. What do millennials want? They want value. They want experiences they want experiences they want to go places offering that. And you can come to one destination one price and you're getting all of it."
He touted this expansion into new and larger demographics as part of his thesis that the company has smooth seas ahead of it even as competitors like Carnival Corp. (CCL - Get Report) encounter problems with their own positioning.
Much to the contrary, Kempa highlighted the remaining opportunity the keep plans to pursue to make keep chareholders contended as they ride along with Norwegian.
"As we turn to 2019 we are looking to have a more balanced approach of more share repurchases and potentially implementing a dividend" Kempa said. "With us generating $1 billion to $1.5 billion of free cash flow per year, we have a great problem on our hands."
The company announced in 2018 that it would return up to $1.5 billion to shareholders through 2020, a plan it is already one-third of the way to accomplishing.
Check out the full conversation with Kempa above.