Four head honchos from Carnival, Celebrity, Royal Caribbean and NCL got together on Tuesday at the annual Cruise Shipping Convention in Miami - the largest cruise exhibition of it's kind.
They took the stage to talk about the state of the cruise industry, and how it has changed over the past 12 months.
"What a difference a year makes" says Kevin Sheehan, CEO for NCL.
"Nothing this industry has experienced in the past could prepare us for what came barreling down the pipe in 2008 and 2009," Sheehan noted. " The Second Great Depression, The Great Recession, The Financial Crisis, whatever you want to call it – it was big and it was scary."
But a year later, "we're seeing solid signs of a recovery, albeit one that will play out over the next two to three years," Sheehan said. "The industry is expecting, and in fact is realising, positive yield growth, albeit to yields still below pre-meltdown levels. But beyond that, the general climate in the industry is much more positive, and is becoming contagious to our customer base."
Gerry Cahill (Carnival) conveyed that ticket prices had plunged by 10% to 20% in 2009. "We were all sitting there saying oh-my-God how are we going to fill the ships," he said. "But the business came back very robustly in the fall. All of us saw a huge increase in volumes toward the end of the year."
Dan Hanrahan (Celebrity) noted that pricing in 2010 only looks better when compared to 2009. Pricing still remains well below the levels of 2006 and 2007, he said. Even then, "I don't think we had the prices we rightfully deserved," he added.
Adam Goldstein (Royal Caribbean) warned that consumers are still in a fragile position. "There are still clouds that hang over this country and others," he said. "We could be in for a bumpy ride."
Click here to view the Newsletter from the Conference, released yesterday.
Cruise Shipping Miami is the world's most important and largest annual meeting for the cruise industry. For over 25 years, CSM has brought together top industry suppliers, quality cruise line buyers and decision makers from around the world for 3 days of exhibition and 4 days of conference.


LinkBack URL
About LinkBacks




Reply With Quote
























Bookmarks