Lindblad Expeditions posted the highest third quarter per diem in company history, a net yield of $1,398 per available guest night.
Occupancy climbed to 91 percent even as capacity grew.
“It was our third consecutive quarter with occupancy above 90 percent, consistent with our long-term stated goal,” CEO Natalya Leahy said.
She credited the company’s sales and marketing.
“Our disciplined commercial execution, revenue management and improved marketing strategies continue to drive strong bookings momentum,” she said.
Over the past 18 months the company has worked to get guests booking further ahead, which Leahy said makes revenue more predictable and gives it more room on price.
The average booking window grew from 9.5 months to 11.9 months.
“We are at the optimal occupancy level,” Leahy said. “On many, many occasions, our pricing is in double digits. Now it will level to about mid-single-digit yield.”
Onboard and extension revenue grew 27 percent year to date. Leahy said there was “significant room to further unlock the full potential of this revenue stream.”
The company raised its full-year net yield guidance to growth of 6 to 7 percent, up from 5.5 to 6.5 percent.
