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EARLY WAVE SEASON CRUISE SURVEY TAKEAWAYS

Survey was bullish for CCL on the margin, neutral for RCL, and slightly negative for NCLH

CCL:

  • Caribbean 
    • Carnival Brand pricing modestly improved sequentially
    • Pricing strength was particularly evident in F3Q, ahead of easy comps mid-Feb
    • Pricing remained modestly lower for the Western Caribbean/Mexico itineraries.
  • Europe
    • Costa pricing slipped sequentially; overall, Costa pricing is still up mid-single digits
    • AIDA pricing moved lower slightly.  Western Med and Western Europe were the laggards.
    • Princess saw some modest discounting – not surprising given its aggressive marketing for this Wave Season
    • Cunard pricing was slightly higher while Holland America pricing was flat
    • P&O Cruises UK saw good pricing gains in January
  • Alaska
    • Holland America sequential pricing was flat, though at modestly lower YoY prices
    • Princess discounted pretty heavily in the last month.

 

RCL:

  • Caribbean
    • RC brand pricing was flat sequentially and remain slightly lower YoY
    • Similar to FQ1, Celebrity discounted prices substantially  
    • Pullmantur pricing was unchanged since December
  • Europe
    • Rock solid pricing by the RC brand, up mid-to-high single digits.
    • Celebrity pricing was roughly unchanged sequentially, although significantly lower YoY
    • Azamara pricing was slightly lower
    • Pullmantur pricing showed decent growth considering very easy comps
  • Alaska
    • Both RC brand and Celebrity pricing were down close to double digits YoY with trend worsening
  • South America
    • Solid Galapagos pricing was the lone bright spot for the Celebrity brand

NCLH:

  • Caribbean
    • Pricing slightly fell sequentially in FQ1.  Summer YoY pricing was hovering near the flat line.
    • Getaway premium increased from 31% to 39% in Q1 and decreased to 37% from 56% in Q2.
  • Alaska
    • A big concern.  Pricing dropped significantly for FQ2 and FQ3. 
    • NCLH has 10% and 19% exposure to Alaska in FQ2 and FQ3.
  • Europe pricing looks outstanding in Q2
  • Hawaii summer pricing fell slightly 

EARLY WAVE SEASON CRUISE SURVEY TAKEAWAYS  - cc1

EARLY WAVE SEASON CRUISE SURVEY TAKEAWAYS  - cc2

EARLY WAVE SEASON CRUISE SURVEY TAKEAWAYS  - cc3

EARLY WAVE SEASON CRUISE SURVEY TAKEAWAYS  - cc4