Tag Archives: occupancy

Cruise occupancy levels and pricing are set to come under pressure

Posted on by
Reply

MSC Virtuosa Entering Southampton photo credit Spacejunkie2 (Flickr-Virtuosa Images)

Cruise occupancy levels and pricing are set to come under pressure in the coming years as supply outpaces demand, according to new data.

The prediction comes from Tourism Economics’ new Cruise Intelligence Platform (Cruise-IP), which found cruise lines will face “critical choices” in regional capacity deployment, with risks of over-supply in some markets.

Cruise operating capacity is on pace to exceed 2019 levels by 16% in 2024 and supply growth is anticipated to slow in 2025, but capacity should grow by roughly one-quarter in the medium term.


Recent booking activity indicates “robust” demand with a record pace of new bookings, Tourism Economics said, with pent-up demand for cruising along with substantial remaining household savings buoying demand.

“We have monitored, analysed and forecasted travel activity for more than 20 years,” said Adam Sacks, president of Tourism Economics.

“With the launch of Cruise-IP, we have deepened this coverage with the most detailed and comprehensive datasets available, covering the entire cruise ship fleet across more than 2,500 cruise destinations.”

Norwegian Cruise Line: Prices Higher Going Into 2023

Posted on by
Reply

Norwegian Cruise Line Holdings has provided a business update ahead of its 2022 Q4 and year-end financial earnings release.

As of December 31, 2022, the company said its booked position was approximately 62 per cent for the full year 2023, in line with previously outlined expectations, and at higher prices than 2019 at a similar time.

Fourth quarter Occupancy was approximately 87 per cent, with the gap versus 2019 levels continuing to narrow sequentially.

‘We are also experiencing strong and broad-based onboard revenue generation even as occupancy increases,” the company said, noting it expects to report a net loss for the quarter and full year ended December 31, 2022, and the first quarter of 2023.