Even during a tumultuous economic time, with inflation still sitting well above the Federal Reserve’s target, cruise lines are thriving.
In the first quarter of the fiscal year, executives across the industry boosted their full-year profit forecasts as they saw record-breaking demand.
Norwegian Cruise Line reported seeing record bookings, while Carnival noted it is “capturing more new guests than ever before.”
“The demand for cruise vacations continues to be at an all-time high, as evidenced by record bookings, record book decisions and record advanced ticket sales,” Norwegian CEO Harry Sommer told analysts on an earnings call earlier this month.
The company’s advanced ticket sales balance increased 30% year over year, reaching a record $3.8 billion.
The company raised its full-year profit forecast Monday for the second time in the last three weeks as it “continued to see very strong demand and record bookings,” Norwegian CFO Mark Kempa said.
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