“For 2024, prices were up in all of our major brands and trades between mid-single-digit to mid-teen percentages,” said Josh Weinstein, president and CEO of Carnival Corporation, speaking on the company’s year-end and fourth quarter earnings call.

“And on top of this, onboard spending levels actually accelerated sequentially each quarter throughout the year. Additionally, unit costs came in 100 basis points better than our original guidance for the year, as we identified and executed upon additional cost savings initiatives and saw the benefit of an easing inflationary environment.”

Weinstein said that 2025 was shaping up to be another banner year, with yield growth exceeding 4 percent, outpacing historical growth rates and again exceeding unit cost growth, delivering more than $400 million incrementally to the bottom line.

“In fact, booking trends even accelerated during the (fourth) quarter,” Weinstein continued. “Despite less inventory for sale, as compared to same time last year, 2025 booking volumes were actually higher year-on-year at higher prices for each quarter, including the period leading up to the election. Booking volumes for 2026 also continue to break records, reflecting sustained demand even for further-out sailings.”

Weinstein said that even excluding the company’s newbuilds, 2024’s yields were still up almost 10 percent over 2023.

“That’s because we’re achieving demand growth well above our modest supply pipeline through ground-up efforts to improve execution across the commercial space,” he explained.