Cruise company stock prices Royal Caribbean (NYSE:), Carnival Corporation (CCL), Norwegian Cruise Line (NCLH) and Viking Holdings (VIK) fell on Friday. This decline came after Bank of America analysts noted in a report that they have seen a slight decline in cruise ticket prices.
Royal Caribbean’s stock fell more than 5%, while Carnival Corporation’s fell more than 8%. Additionally, shares of Norwegian Cruise Line were down more than 7% and Viking Holdings was down 5%.
The financial institution detailed that its conclusions, based on cruise ticket prices collected in early June, indicate a slight reduction in sea cruise prices compared to prices at the beginning of May.
“Comparing month to month, 40% of cruise routes showed a decrease in ticket prices compared to 33% in May, although this is significantly lower than the 60% seen in March,” Bank of America reported. . The bank also noted that 32% of cruise routes saw an increase in ticket prices (down from 43% in early May) and 28% of routes maintained the same prices (up from 25%). beginnings of May).
Additionally, Bank of America highlighted that ticket prices for cruises to the Eastern Caribbean experienced the largest month-on-month increase, at +2%, marking the first increase for the region since February.
“June is the first month since December that ticket prices for the Eastern Caribbean have increased more than those for the Western Caribbean. Prices for the Western Caribbean decreased 6% this month, becoming the region with the largest decrease in our study for this month and the most significant decrease since March,” the bank stated.
Western Caribbean cruises were cited as having some of the highest prices in Bank of America studies following the introduction of Royal Caribbean’s ship, Icon of the Seas. However, prices for these cruises have decreased since the ship’s initial launch.
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