Royal Caribbean Cruises Ltd, (RCCL), the world's second largest cruise shipping company, said first quarter booking volumes have risen compare to the same period year-on on broad based strength of the market.
"Overall booking volumes during the first quarter were higher than prior year levels even after adjusting for our increase in capacity. Caribbean itineraries enjoyed particularly strong demand, and bookings were also up year-over-year for Europe and China itineraries," RCCL said in a sratement.
As previously discussed, the company has taken actions to extend its booking curve, as a result of which booked load factors and APDs are higher than historical levels. More recently, the company has taken further steps to improve the integrity of its pricing model including steps to eliminate last minute discounting.
Overall, European itineraries are booked at a higher load factor and APD than last year. Western Mediterranean itineraries have been booking well, while trends have been a little weaker for Eastern Mediterranean itineraries, particularly those that turn in Turkey. Demand for China remains strong and bookings have been outpacing expectations despite the significant capacity growth in the region.
