Cruising survey: bookings down but prices up
Cruise bookings may be slowing but prices are rising, according to a new survey.
The monthly survey by Susquehanna Financial Group found that the volume of cruise bookings dipped slightly in January. It was the second straight month that Susquehanna found a drop. Before December, the firm said it had not seen a negative booking volume since March 2006, according to the survey of 60 travel agents.
At the same time, however, cruise prices are still rising.
Prices for cruises booked in January were up 4.8% in January, which was the biggest price gain since March 2006 and followed a 4.7% increase in December.
More than two-thirds of agents also reported higher year-over-year price increases.
Susqhehanna said the survey shows that “pricing has clearly firmed in the Caribbean,†which is good news for Central Florida and Cape Canaveral.
All multi-day cruises out of Port Canaveral sail to the Caribbean, which has had some struggles in the past two years.
“While the contraction in volume is a little disheartening, the pricing power suggests we are still well within positive yield territory,” wrote authors Robert LaFleur and Brian Dobson. They added:
“We continue to believe that cruise vacations remain a solid value proposition for the consumer, and that may be an important backstop to cruise demand and pricing, as consumers still choose to go on vacation, but may be more cautious about spending,†they said.
Report by David Wilkening
David
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