If the labour market remains strong, consumers will continue to book cruises at higher prices, according to Norwegian Cruise Line Holdings (NCLH) president and chief executive Frank Del Rio.
Speaking during a quarterly financial results call on Tuesday (February 28), Del Rio emphasised the strong bookings the company has seen so far this year across its three brands, Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises.
Looking ahead to 2024, he said bookings are already higher than they were in 2019 looking at 2020, despite itineraries costing more than they did then.
More: NCLH reports ‘record booked position’ for 2023
He said he expects the trend to continue as long as the labour market is robust.
“We have seen strong booking levels dating back to November,” he said.
“Our view is as long as customers have a job and the labour market remains strong, they will continue spending on the things they normally spend their money on, including vacations.
“We simply don’t see a weakening consumer. If you look at our forward bookings, each quarter in 2023 is better booked than the comparable quarter in 2019.
“And if you start looking at 2024 – it’s never too early to start talking about next year – bookings are running ahead at higher prices than they were at the same time in 2019 looking at 2020.
“We simply haven’t seen any indication that the consumer is shying away from taking cruise vacations, at least not with our three brands.”