North Americans ‘taking fewer European cruises’
Norwegian Cruise Line says demand for European cruises from North America has fallen.
As it announced its first quarter financial results, the cruise line said demand for cruises to Europe had ‘softened’.
However, it said this was offset by strong demand for cruises in the Caribbean, Hawaii, Alaska and other North American markets.
The Miami-based cruise line made $1.1 billion in the first three months of the year giving it a net income of $73.2 million compared with a loss of $21.5 million in the same period of 2015.
It said bookings for 2016 were on a par with last year’s record levels and at higher prices.
Chief financial officer Wendy Beck said: "Continued strong demand in the Caribbean, Alaska, Bermuda, and Hawaii is offsetting softness in Europe which comes mainly as a result of lower demand from North American consumers.
"While this softness is tempering yield growth mainly in the second quarter, strong bookings and pricing in other core markets, as well as the addition of Seven Seas Explorer to our fleet, are contributing to strong yield performance in the back half of the year, keeping us on track to deliver expected earnings growth of approximately 30%."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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