Is the luxury cruise market doing that well?

[commodoredave]

As per today's press release from Crystal below, they are increasing cruise fares by 94% on all published fares on March 1. Is the whole luxury cruise industry doing that well, including Regent, or is it just Crystal? Or is this a move to increase yields because so much inventory was sold at such low prices?

 

LOS ANGELES, January 28, 2014 – Due to overwhelmingly positive response and significant increase in booking activity since launching January 3 to February 28 “Book Now Fares” and offers, Crystal Cruises is raising rates on a record number of luxury cruises on March 1. Cruise fares will increase on 94% of all currently published 2014, 2015 and 2016 voyages -- more than 120 – for the next “Book Now” period that will end on April 30, 2014.

Crystal’s revenue for 2013 ended nearly 22% ahead of 2012, 2014 is already 78% booked, and 2015 bookings are 42% ahead of this same time last year for 2014. “Travelers who don’t book by the end of February risk not only losing out on great savings, but possibly any space at all,” says Edie Bornstein, Crystal’s president.

Bornstein attributes the booking success to Crystal’s unparalleled reputation for superior service, the striking investments in the design of its ships and an overall award-winning vacation experience that is earning Crystal its highest ratings ever for guest satisfaction. Strong support from travel agents worldwide and advance publication of carefully crafted itineraries of varying lengths with abundant overnights have contributed to the success story.

Edited January 28, 2014 by commodoredave

[funny26]

As per today's press release from Crystal below, they are increasing cruise fares by 94% on all published fares on March 1. Is the whole luxury cruise industry doing that well, including Regent, or is it just Crystal? Or is this a move to increase yields because so much inventory was sold at such low prices?

 

 

commodoredave, just wanted to clarify your first sentence above as in reading it, it does read differently than the release. Crystal is NOT increasing cruise fares by 94% on all published fares; they are increasing cruise fares on 94% of their published voyages. The amount of the increases is NOT 94% and is not defined. It is that fares are increasing on almost all of their published fares but, not by 94% which would be an almost doubling of fares.

 

Don't want people thinking fares are almost doubling which is what you erroneously wrote.

[DaveFr]

To be accurate, Crystal is raising fares ON 94% of their voyages, not BY 94%. I think they would be out of business if they raised fares that much. :D

Edited January 28, 2014 by DaveFr

[commodoredave]

To be accurate, Crystal is raising fares ON 94% of their voyages, not BY 94%. I think they would be out of business if they raised fares that much. :D

 

Apologies -- you are correct -- they will increase on 94% of their voyages. That is a big difference and sounds more like a marketing ploy that a sign that the luxury cruise industry has returned to normal levels of profitability. There should still be bargains out there for a while.

[wripro]

And trust me, if those voyages do not sell well they will soon decrease prices again.