TravelPulse Q&A: One-on-One With Lindblad Expeditions' Natalya Leahy

by Sarah Kuta
Last updated: 7:00 AM ET, Tue April 7, 2026

In 2025, Lindblad Expeditions Holdings, Inc. delivered the strongest performance in the company history, ending the year with record guest satisfaction, record net yield per available guest night of $1,335 and record adjusted EBITDA of $126.2 million—all while strengthening its balance sheet position.

Last year was also Natalya Leahy’s first full year as chief executive officer of the longstanding company. Leahy officially joined Lindblad Expeditions on January 1, 2025, replacing founder and longtime chief executive Sven-Olof Lindblad. She came to the organization from Seabourn, where she served as president for a little less than two years; before that, she held leadership roles at Holland America Group.

We sat down with Leahy to learn more about her first year on the job—and what’s behind the company’s recent success.

TravelPulse (TP): Why did you decide to make the move over to Lindblad?

Natalya Leahy (NL): It is rare to find a company that has such a strong foundation and still has so much room to shape its future. I was drawn to Lindblad because it is a company with a clear purpose and a distinctive model. We pioneered modern expedition travel and built a legacy that connects exploration with science, education and stewardship. Leading an organization grounded in that mission was incredibly appealing.

With a strong team, an extraordinary partnership with National Geographic and a culture that values expertise, we are well positioned to meet the growing demand for expedition travel. More travelers are looking for experiences that deepen their understanding of the world, and I am excited to bring Lindblad’s combination of heritage and expertise to this moment.

TP: Now that you’ve been with the company for a little more than a year, what do you personally feel differentiates Lindblad?

NL: We pioneered modern expedition travel. Sixty years ago, Lars-Eric Lindblad believed exploration should not be reserved for scientists alone. He invited curious travelers to Antarctica alongside experts, not simply to witness these places, but to understand them. That belief remains our foundation.

What has evolved is the depth and the discipline. Early expeditions were about access. Today they are about insight. Our guests travel with scientists, experts from our partnership with National Geographic, photographers and naturalists who interpret what we’re seeing in real time. Our ships are purpose-built. Our technology is more advanced. Our environmental standards are significantly higher.

Because this is where the magic happens for our guests. Our captains and naturalists know how to read the environment intimately and have returned to these fragile regions for decades. That depth of experience allows them to read the environment and respond in the moment. When something extraordinary happens, like a whale surfacing nearby, we can safely adjust course and make sure our guests don’t miss it.

The industry has grown, but for us, the defining difference has always been how we go. With expertise. With intention. With deep respect for the environments and communities that allow us to explore.

And when it comes to making the right choice for their clients, these are the differentiators that give confidence to our travel advisor partners.

TP: Lindblad recently celebrated its strongest performance in the company’s history. What’s behind this recent success?

NL: I’m proud of the historic performance, but I’m even more proud of how we delivered it. We focused relentlessly on the guest experience. Our Net Promoter Scores reached record levels, which tells us our guests are finding extraordinary value in these voyages.

At the same time, we exercised disciplined financial stewardship. We strengthened the balance sheet, refinanced long-term debt, improved yield and maintained strong occupancy. That reflects both healthy demand and careful execution.

We also empowered our teams. Expedition travel is operationally complex. Success depends on experienced leaders on board and on shore making thoughtful decisions every day.

Growth only matters if it is sustainable. What we achieved reflects a company that is financially stronger and strategically clear about its future.

TP: What are some of the biggest lessons you’ve learned over your career?

NL: One of the most important lessons I’ve learned is that great companies are built by people with strong character, growth mindset and a genuine curiosity about the world. What impressed me immediately at Lindblad was the depth of experience across the team. Many of our captains, naturalists and expedition leaders have spent decades exploring these regions, and that expertise is what allows us to deliver the kind of experiences our guests come for.

Another lesson is the importance of clarity. Clear goals and measurable outcomes create alignment and reduce unnecessary complexity. When teams understand what success looks like, they perform with greater confidence and accountability.

I have also learned the value of open dialogue. Good ideas rarely emerge from a single perspective. When people feel comfortable challenging assumptions and contributing their views, decisions improve.

TP: How would you describe your leadership style? And how have you developed that style over the years?

NL: Everything I know about leadership has been shaped in great part by mentors who I admired and who were generous with their time and talent. I am so grateful to them and I believe my leadership style honors what I learned: strong teams are built on setting clear objectives and encouraging open discussion.

Over time I have learned that as organizations grow, structure and communication become even more important. Leaders must create an environment where people feel comfortable sharing ideas and challenging one another in a constructive way.

I also believe in aligning incentives with outcomes. When performance expectations are clear and transparent, trust grows and distracting internal politics are diminished.

Ultimately, I serve my role best when I create the conditions where talented people can do their best work. When that happens, creativity and innovation thrive and team members contribute more fully, believing—because it’s true, that they are integral to the organization’s success. That’s how an organization can move forward with confidence and momentum.

TP: Which destinations are on your travel bucket list right now and why?

NL: One of the privileges of working in this industry is the opportunity to experience extraordinary places and to imagine the bucket list dreams of those we serve. Antarctica remains very special to me because it represents the origins of modern expedition travel and offers a perspective that is difficult to describe until you see it yourself.

Recently, I had the joy of returning to the Galápagos with my children, and seeing the islands through their eyes was incredibly meaningful. Moments like watching wildlife up close or listening to our naturalists explain the delicate balance of the ecosystem remind you why these places matter so much.

National Geographic Delfina and National Geographic Gemini in Academy Bay

I am also very interested in exploring more of the Arctic and remote regions of the South Pacific. Our expedition leaders keep telling me that places like Svalbard are among the most extraordinary destinations we visit. It is one of the few places where our small ships allow us to explore protected areas more freely, and the combination of the midnight sun, polar night and incredible wildlife makes it a place I am very excited to experience.

For me, the most meaningful travel experiences are those that deepen understanding. Discovery of place, of myself and enjoying those moments with the people I love most in the world, is how I fill my bucket.

TP: What tips and advice would you share for travel advisors to help them achieve success?

NL: My advice is to focus on expertise and relationship building. Advisors who take the time to understand their clients and match them with experiences that truly resonate create long term trust.

It is also important to stay curious about emerging trends and destinations. Travelers today value insight and guidance more than ever.

Advisors who combine knowledge with genuine care for their clients’ experiences will continue to thrive.

TP: What else would you like more people to know?

NL: I believe the future of expedition travel will require even greater intentionality.

Travelers are increasingly seeking depth and meaning. They want context. They want to understand not only what they are seeing, but why it matters. Expedition travel is uniquely positioned to meet that desire because it encourages curiosity and humility.

But the core will remain constant. Exploration done thoughtfully can be a force for good.

We pioneered modern expedition travel, balancing legacy with responsibility. Our founder believed that travelers who experience these places often return home as stewards for the planet. As we continue to introduce travelers to the world’s most fragile places, we remain committed to our mission: helping people see the world differently and inspiring them to protect it.

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