Taking a cruise is a whole different kind of vacation experience — especially when compared to visiting a theme park.
First, you don’t have to walk MILES and stand in line for HOURS. You can also get a chance to see destinations you might not see otherwise. Most meals are generally included. Cruises are generally cheaper, too, although that is something that could be changing soon.
Royal Caribbean recently held its 2024 earnings call, and we learned that the price of cruises will probably go up. During the call, Royal Caribbean promised its shareholders record revenues in 2024. Even with more capacity than ever with their ships, the company has had its five biggest booking weeks ever last quarter.
So what does that mean? Well, cruise lines have always been priced based on demand, and when there’s more demand, prices will typically go up, too. This comes after Royal Caribbean recently launched the biggest cruise ship ever, the Icon of the Seas, which has boosted the company’s earnings.
“Demand for our brands continues to outpace broader travel as a result of consumer spend further shifting toward experiences and the exceptional value proposition of our products,” said Jason Liberty, president and CEO of Royal Caribbean Group. “We have exciting new vacation experiences in 2024, including the game-changing Icon of the Seas, and have entered the year in a record booked position at significantly higher prices, further positioning us for a strong 2024.”
According to Reuters, this is the case ACROSS the board with almost every cruise line in operation right now. 2024 has travelers across all income and budget levels booking cruises at greater volumes than even before the COVID-19 pandemic. This is even true for Disney Cruise Line. That means higher demand, and as we previously said, high demand means higher prices.
We’ll have to keep an eye on those cruise prices just to see how high they get. Check back with AllEars again soon.
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