Tag Archives: Aida

Weinstein: ‘Costa On The Rebound’

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Costa Favolosa entering the port of Liverpool, photo credit Spacejunkie2 (Flickr Account)

“Costa is one of those brands that’s really on the rebound,” said Josh Weinstein, president and CEO of Carnival Corporation, speaking on the company’s third-quarter earnings call.

Weinstein credits Costa President Mario Zanetti with leading the turnaround of the Italian brand, which is launching a new marketing campaign.

“Their research based on their market and the segment that they’re trying to hit in their market was all about experiences and leaning into particular messaging in particular ways to convey it because the product for Costa is already fantastic,” Weinstein said.

He continued that Costa and AIDA posted solid numbers for August, with occupancy coming in at 119 per cent, above the 109 per cent average number Carnival reported for its nine brands.

“In fact, in Q3, AIDA and Costa delivered higher yields than 2019,” he said, noting they did this with the absence of Saint Petersburg in what would have been high-yielding Baltic itineraries.

Carnival Corp Posts 109% Occupancy in Third Quarter

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P&O one of the Carnival Group, photo credit Spacejunkie2 (Flickr account)

Carnival Corporation’s nine brands enjoyed full ships in the third quarter of 2023 as the company delivered a profit of over $1 billion and record revenue.

The ships on average were 109 percent full. Cruise ship occupancy is calculated by having two people in each stateroom, bringing a ship to 100 per cent. Any additional guests, such as children, will push a ship over the 100 per cent mark.

The company said that the 109 per cent occupancy number was better than its own expectations and marked a return to historical levels, compared to just 84 per cent in 2022 and 113 per cent in 2019, the last normal year prior to the pandemic.

“On the European front, occupancy came in better than anticipated for Costa and AIDA, with both brands hitting 119 per cent occupancy in August. Not to be outdone, P&O Cruises achieved its highest occupancy in over a decade,” said Josh Weinstein, president and CEO, on the company’s third-quarter earnings call.

“And so I can’t say that their yields were higher. But I can tell you that their occupancy is back, and they are well on their way, and that’s absolutely as expected,” said Weinstein, commenting on the company’s P&O brand.

Royal Caribbean Sails Up as Largest Brand in the Industry

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Royal Caribbean International will be the largest cruise brand in the world by 2029 noticeably ahead of Carnival Cruise Line, according to the 2023 Cruise Industry News Annual Report.

The Royal Caribbean brand will have an annual global capacity of approximately 6.5 million passengers in 2029, compared to 5.4 million for Carnival Cruise Line.

Royal Caribbean will sail 30 ships versus 27 for Carnival.

While Royal Caribbean will be the largest globally, based on known deployment and the current orderbook of new builds to be introduced, Carnival will most likely continue to dominate in the Caribbean where the brand tends to concentrate its deployment.

The other largest brands on a global scale in order of size will be MSC Cruises, Norwegian Cruise Line, Princess, Celebrity, AIDA, Costa, TUI and Holland America.

Two question marks would be what happens in China with Carnival’s joint Adora venture that could grow quickly when the Chinese market returns, and if more Costa ships were to be transferred to Carnival’s Fun Italian Style product.

The 2023 Cruise Industry News Annual Report is in digital and printed formats. Order today by clicking here.