Britons over 50 to spend 43% more money on cruises in 2020 - Saga

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 30 September 2015 30 September 2015

Britons over the age of 50 are expected to significantly increase their spending on cruising in the next five years, a study commissioned by Saga plc, the listed lifestyle company, has found.

"Research commissioned by Saga into the UK’s over 50s spending on travel and tourism, found that spending on cruising is expected to increase by 43% to £2.2 billion by 2020," the company said in a statement.

"This compares £1.65 billion in 2014 out of a total over 50s spend of £41 billion on travel and tourism. Nearly a third (32%) of over 50s in work said they were planning to increase their spending on cruises after retirement," Saga noted.

Last year, however, the British cruise market contracted by 5% to 1.65 million passengers despite a 3.2% growth rate of the country's gross domestic product (GDP).

The company, which offers a wide range of services from holidays to investment and insurance products to ver 50s, earlier today said it had placed an order for a 55,900 gross ton cruise ship with Meyer Werft in Germany, with delivery set for 2019. The contract includes an option for a second vessel that would be delivered two years later if confirmed.

Saga Cruises in one plus one option 55,900 gross ton ship deal with Meyer Werft

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 30 September 2015 30 September 2015

Saga Cruises, part of the listed British lifestyle company Saga plc, said it has placed an order for a 55,900 gross ton cruise ship with Meyer Werft in Germany, with an option for a second ship.

No financial details were given, but Saga said the first vessel would be delivered in the summer of 2019 and the second one, if the option is taken up, in 2021. The new ships will be 234 metres in length, have a beam of 30.8 metres and carry fewer than 1,000 passengers in all balcony accommodation.

"Plans for the ship will be refined over the coming months but we anticipate her to have some 540 suites and cabins each with a balcony. Around 15% of cabins will be designed for single occupancy and the maximum capacity for the ship will be fewer than 1,000 passengers. There will be single sitting dining throughout a range of restaurants as well as a variety of bars, speciality restaurants and al-fresco dining options. There will also be outdoor and indoor swimming pools, a spa, saunas, treatment rooms and beauty salon," the company said.

Robin Shaw, chief executive, Saga Cruises, said in the statement: “Our plan for the first of our new modern and elegant cruise liners is sure to delight our existing passengers and we hope it will entice new passengers to cruise with us. We will retain an intimate small-ship feel, for fewer than 1,000 passengers, a high crew to customer ratio, great public spaces and entertainment facilities and dining can be accommodated in a single sitting."

Lance Batchelor, chief executive officer, Saga plc who announced the decision at the company’s half-year results said: “The cruise operation remains at the heart of the Saga brand and demonstrates our commitment to deliver excellence in customer service and outstanding value. This investment will be transformational for the cruise business and for our cruise customers. The precise details of the new purpose built ship will be finalised over the coming months but will retain the traditional features our customers cherish.”

Saga Cruises started operations in the mid 1990s and it currently employs two ships, the 37,012 gross ton Saga Sapphire and the 18,859 gross ton Saga Pearl II. Both ships were built in Germany in 1981 and are second hand purchases. The ship ordered today is the first newbuilding the company has contracted.

Saga offers a wide range of producrs, from holidays to financial services, to customers over the age of 50.