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Unique Cruise Solutions The news you need to know |
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Cruise News for the Corporate Travel Professional |
January 2010 Edition |
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RCI's Oasis of the Seas is Hurting Pricing for their Ships According to Research Firm |
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The Oasis of the Seas is hurting pricing for other ships owned by
Royal Caribbean Cruises Ltd., according to equity research firm Majestic
Research. Celebrity’s Solstice-class and Royal Caribbean International’s Freedom-class cruise ships have experienced price cannibalization with the introduction of the Oasis, said Majestic. In a note to investors, Majestic leisure analyst Matthew Jacob said pricing for Freedom-class ships was 7 percent higher than RCCL’s other ships in the first quarter of 2010, down from 27 percent during the third quarter of 2009, the last full quarter prior to the Oasis launch. Solstice-class premiums declined to 30 percent in the first quarter of 2010, down from 68 percent in the third quarter of 2009. “While some investors are expecting Oasis to have a halo effect (lifting bookings across all RCCL ships), it appears that the ship is actually cannibalizing the rest of RCCL’s fleet,” Jacobs said. Jacobs also said that Oasis pricing was beginning to drop for the first quarter of 2010. “The Oasis is garnering initially high premiums for the quarter because of the honeymoon period accompanying the launch of a new ship,” Jacobs said. “We expect the ship to continue to generate strong premiums throughout most of 2010; however, we expect Oasis’ premiums to drop significantly over time, as we have seen with other recent new ship introductions.” |
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Worldwide Travel & Cruise Assoc., Inc. 150 S. University Dr. Ste E, Plantation, FL 33324 - USA Tel: +1 954 452 8800 Fax: +1 954 252 3945 EMail: sales@cruiseco.com |
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