Sven Lindblad, founder and CEO of Lindblad Expeditions, once again warned competitors about “unsustainable” pricing strategies in the expedition cruise segment.

Speaking on the company’s second quarter earnings call on Thursday, he highlighted Lindblad’s commitment to pricing integrity while criticizing the discounting policies of other operators.

“We have stayed committed to price integrity which is fundamental to our business mode,” he said.

“Many of our competitors continue to compete on price in pursuit of occupancy gains. This without doubt is a flawed unsustainable strategy,” Lindblad noted.

To reliably return to its historic occupancy levels, Lindblad is implementing a different approach, he explained.

“We are building back our past guest base. This customer cohort is the backbone of a segment of our itineraries, those that are longer and more esoteric,” Lindblad continued.

“We believe this strategy, barring external influences, will result in us achieving this goal for the full year in 2026.”

This is not the first time that the company has called out other expedition operators for their discounting and pricing practices.

During Lindblad’s first quarter earnings call in April, Lindblad stated that the segment was witnessing seeing “more and more dramatic price actions.”

Calling it a bad habit, he said that the long-term business consequences of these actions would be “very negative.”

“Clearly, the relationship of inventory and demand is out of balance for some of our peers as well as some desperation coming out of Covid,” he noted at the time.

Lindblad’s recent earnings call showed a slight increase in passenger occupancy, reaching 78 percent in the second quarter of 2024.

This figure represents a two percent increase compared to the first quarter of the year and a four percent increase compared to the same period in 2023.