Dropping Prices

Carnival Corporation said in its 10-K filing last week that while year-to-date bookings are equal to last year’s level, bookings have not increased commensurate with the increase in capacity. Carnival said it believed bookings have been impacted by the uncertain economic environment, concerns regarding war, and security alerts issued by various national governments. “These factors have caused us to reduce cruise pricing to stimulate incremental demand for the first and second quarters,” Carnival said.

Carnival expects net revenue yields for the first quarter to be equal to last year’s, compared to its previous guidance of a one to three percent increase. Q2 net revenue yields are expected to be down YoY, compared to earlier expectations of an increase. Because of the close-in booking pattern, Carnival said it was too early to give guidance for Q3 and Q4.  

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