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Europe’s strength offsets Caribbean weakness for Carnival
Carnival Corporation’s European brands are helping offset pricing weakness of Caribbean cruises.
The world’s largest cruise conglomerate saw net profit up to $283 million on revenues of $2.69 billion for the winter three months ending on February 28 – the group’s first quarter.
This compared to net profit of $251 million on revenues of $2.46 billion the 12 months previously.
Chairman and CEO Micky Arison said the first quarter continued a trend seen in recent quarters of strong growth in cruise revenue yields from the company’s European cruise brands offsetting pricing weakness in the Caribbean.
Since mid-February the company has seen a “significant” rise in bookings year-on-year, with the increase “well above” the company’s larger capacity for 2007, especially for Carnival Cruise Lines’ Caribbean programmes, but with prices below last year’s levels.
His represents an improvement on bookings between the beginning of January and February 4, which were up but less than the capacity rise.
Arison voiced confidence in Caribbean cruising – the world’s top cruise region -saying: “Despite a soft pricing environment in this segment, we’ll carry a record number of guests to the Caribbean this year.
“Booking trends for the Caribbean over the past few weeks indicate that consumers are recognising the extraordinary value of warm water cruises.”
by Phil Davies
Phil Davies
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