DIRS.INFO The most relevant business & tech news

☆ Royal Caribbean's family-friendly private island is about to get more crowded with Gen Xers
▼ + stars: | 2024-04-11 | by ( Brittany Chang | ) www.businessinsider.com time to read: +5 min

Read previewRoyal Caribbean's family-friendly private island is about to get a bit more crowded — with Gen Xers. Royal Caribbean's private island is a tropical dream for cruising families dotted with sprawling beaches, clubs, a zipline, and a waterpark. Royal Caribbean goes after multi-generational families, while Celebrity's target demographic is Gen Xers, Lisa Lutoff-Perlo, the then-CEO of Celebrity Cruises, told Business Insider in 2021. Celebrity sails to 300 ports on all seven continents — why this sudden push for the private Caribbean island? Brittany Chang/Business InsiderBut for the two brands' parent company, there are more benefits to private island cruising besides guest satisfaction.

Persons: —, Gen Xers, Gen X, Brittany Chang, Xers, Lisa Lutoff, Michael Bayley, CocoCay, Patrick Scholes, Bayley Organizations: Service, Cruises, Royal, Business, Royal Caribbean Group, Apex, Celebrity Cruises, Royal Caribbean International, Truist Securities, Coco Locations: CocoCay, Fort Lauderdale , Florida, Royal Caribbean, that's, Royal, Caribbean, Brittany, cabanas

☆ Cruise lines' private islands are having a renaissance. These are the 3 reasons they need it now more than ever before.
▼ + stars: | 2024-03-23 | by ( Brittany Chang | ) www.businessinsider.com time to read: +8 min

To cruise lines, they're cash cows. Related storiesThese are the three reasons cruise-run private destinations have become so important. Amid rising fuel costs, it's easy to see why cruise lines would want to plan more itineraries around these nearby stops. Private destinations keep profits in-houseThe bar had two halves: one on land and the other at pool level. And because there's no need to rely on other excursion operators, they allow cruise lines to keep more profits in-house.

Persons: —, Patrick Scholes, Michael Bayley, Naftali Holtz, it's, Scholes, wouldn't, Linken D'Souza, Brittany Chang, Josh Weinstein, Jason Liberty, Simone Padovani, CHANDAN KHANNA, They're Organizations: Service, Royal, Business, Truist Securities, Disney Cruise Line, Disney Cruise, Holland America, MSC, Royal Caribbean International, Royal Caribbean Group, Beach, cabanas, Carnival Corp, Private, Hideaway, Disney, Key, Getty Locations: Miami, Bahamas, CocoCay, Caribbean, Honduras, Belize, Eleuthera, Cay, Holland, Royal Caribbean, Paradise, Nassau, Florida, cabanas, Royal, Orlando, Venice, Italy's Giudecca, Santorini, Greece, Key West , Florida, California, Alaska , Maine, Europe, Juneau , Alaska, French Polynesia, Italy

Travelers are looking to cruises in 2024 because they are still cheaper than land-based alternatives. With occupancy levels approaching pre-pandemic levels, operators plan to hike prices in coming months. "Overall the market is extremely strong, especially the top end of the market in terms of the most high-end luxury cruises," said Bob Levinstein, CEO of cruise marketplace Cruise Compete. Even as travelers have canceled or postponed planned vacations to the Middle East, cruise bookings will still hit record levels in 2024, said Truist Securities analyst Patrick Scholes. Prior to the Oct. 7 attacks in Israel, industry-wide bookings for 2024 were about 25% higher than in 2019 for bookings in 2020.

Persons: Queen Mary, Andrew Kelly, Bob Levinstein, Patrick Scholes, Scholes, Jason Liberty, Josh Weinstein, Atle, Kari Dillon, Dillon, InteleTravel, Dave Spinelli, Ben Harrell, Granth, Marguerita Choy Organizations: Cunard Line, Carnival Corporation & plc, Brooklyn Cruise, REUTERS, Travelers, Truist Securities, Cruise Lines International Association, Royal Caribbean, Liberty ., Holdings, Cruisers, Thomson Locations: Brooklyn, Brooklyn , New York City, U.S, BENGALURU, Israel, Caribbean, Oslo, North Carolina, Florida, InteleTravel, Delray Beach , Florida, Royal Caribbean, Bengaluru, Doyinsola, New York

☆ Cruise lines may overbook more sailings as demand heats up — here's what happens when your trip is oversold
▼ + stars: | 2023-12-02 | by ( Brittany Chang | ) www.businessinsider.com time to read: +4 min

AdvertisementA serious issue for travelers could be quietly brewing amid the booming demand for cruises : oversold ships. With this has come an influx of last-minute bookings that may be catching cruise operators off guard, leading to oversold cruises, Scholes said. On Tuesday, an oversold Quantum of the Seas ship left several travelers stranded at the embarkation port in Brisbane, Australia. While hard to predict, Scholes said he "wouldn't be surprised" if there were a handful of oversold cruise incidents next year as well. Statistically, it's still unlikely: Only a handful of the millions of annual cruise travelers have ever been impacted by this.

Persons: —, Patrick Scholes, Scholes, Brittany Chang, itineraries, wouldn't, it's, Raynor Organizations: Royal, Service, Truist Securities, Royal Caribbean Group, Seas, Seas ., Port, Business Locations: Royal Caribbean, Brisbane, Australia, Caribbean, Port of Brisbane

☆ Manchester United stunned by Copenhagen in seven-goal Champions League thriller
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Ben Morse | ) edition.cnn.com time to read: +7 min

CNN —Manchester United’s nightmare season continued on Wednesday night after it was stunned in the Champions League by Copenhagen in a seven-goal thriller. So I can’t make any criticism on the team for that.”Ten Hag looks on during the Champions League game against Copenhagen. James Gill - Danehouse/Getty ImagesAfter an adversity-filled few weeks, Wednesday looked like it might have been the rebirth of Manchester United under the Dutchman. Copenhagen players celebrate after beating Manchester United. Maja Hitij/Getty ImagesBardghji became the youngest player to score a Champions League goal against Manchester United, aged 17 years and 358 days.

Persons: Rasmus Højlund, Marcus Rashford, Erik ten, ”, James Gill, Højlund’s, Copenhagen’s Elias Jelert, Rashford, Donatas Rumšas, Paul Scholes, Owen Hargreaves, Maja Hitij, I’m, Mohamed Elyounoussi, Diogo Gonçalves, United, Harry Maguire’s, Bruno Fernandes, Lukas Lerager, Bardghji, Fernandes, “, it’s Organizations: CNN, Manchester, Champions League, Copenhagen, Galatasaray, Bayern Munich, Premier League, Manchester City, Devils, League, Newcastle United, Manchester United, England, United, TNT Sports, Leicester, Luton Locations: Copenhagen, Brighton, Crystal, Portuguese

☆ Tottenham face test of top-four ambitions after midweek mayhem
▼ + stars: | 2023-11-09 | by ( Martyn Herman | ) www.reuters.com time to read: +4 min

Before the mayhem of Monday's home defeat against Chelsea, Wolves away would have been viewed as another opportunity for Tottenham to underline their top-four credentials. But that 4-1 reverse, Postecoglou's first setback in the Premier League, could cost the north London club more than a return to top spot and the loss of three points. A tumultuous derby ended with Tottenham having only four of their starting line-up left on the pitch. A home game against City will perhaps say a lot more about whether or not Chelsea have turned a corner. Former midfielder Paul Scholes believes Ten Hag still has some credit left in the bank after last season when United finished third in the Premier League and won the League Cup.

Persons: Ange Postecoglou, Postecoglou's, Cristian Romero, Micky van de Ven, Udogie, James Maddison, Richarlison, Nicolas Jackson, Postecoglou, That's, Son Heung, Victory, Jackson, Mauricio Pochettino's, Chelsea, Manchester, Erik Ten Hag, Rasmus Hojlund's, Paul Scholes, He's, Scholes, Martyn Herman, Pritha Sarkar Organizations: Tottenham Hotspur, Wolverhampton Wanderers, Chelsea, Wolves, Tottenham, Premier League, Aston Villa, Manchester, Manchester City, City, Stamford, Luton Town, Manchester United's, Fulham, FC Copenhagen, Champions League, Luton, United, League, Arsenal, Burnley, Saturday, Liverpool, Brentford, Thomson Locations: London, Manchester City, Saturday's, Manchester, Chelsea

☆ Man United boss Ten Hag laments 'harsh' Rashford red card
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

"I think first we played very good until the red card. The red card changed everything. Rashford's red card was given after he planted his foot on the ankle of Elias Jelert to protect the ball and it drew the ire of Ten Hag. The loss was United's first in the Champions League in which they led by two or more goals. Ten Hag said the Rashford red was not the first questionable decision that has gone against them this season.

Persons: Marcus Rashford's, Erik, Hag, Rasmus Hojlund's, Elias Jelert, Owen Hargreaves, Marcus, He's, Paul Scholes, Lori Ewing, Toby Davis Organizations: League, FC Copenhagen, United, Premier League, TNT Sports, TNT, Champions League, Leicester City, Fulham, Thomson Locations: COPENHAGEN, Manchester

REUTERS/Ammar Awad/ Acquire Licensing RightsNEW YORK/LONDON, Nov 6 (Reuters) - Travelers are canceling or postponing planned vacations to the Middle East and North Africa due to fears of the Israel-Hamas conflict worsening, and as touring companies have also altered itineraries and canceled flights. Travel operators say the war is affecting demand for travel to nearby nations including Egypt, Jordan and Turkey. German airline Group Lufthansa (LHAG.DE) said on Thursday their Middle East bookings have not been affected by the war, with only an initial dip when the conflict started. Spanish travel agency Essentialist said it has canceled 75% of trips to the extended Middle East and Northeast Africa region. The conflict's effect on travel demand to the Middle East may extend beyond the holidays and even just neighboring countries.

Persons: Ammar Awad, Israel, Todd Elliott, Konrad Waliszewski, Willie Walsh, Kathleen Oberg, Patrick Scholes, Essentialist, Matt Berna, Khaled Ibrahim, Doyinsola Oladipo, Joanna Plucińska, Rajesh Kumar Singh, Daniel Wallis Organizations: REUTERS, Cruise Line Holdings, Royal Caribbean Group, International Air Transport Association, Group Lufthansa, AS OMAN, Marriott, Intrepid Travel, Americas, East Travel Alliance, Thomson Locations: Damascus, Jerusalem's Old City, East, North Africa, Israel, Palestinian, Gaza, Egypt, Jordan, Turkey, Orlando , Florida, Israel . Washington, Cyprus, Lebanon, Valencia, Spain, Spanish, Northeast Africa, Australia, Norway, Sharm el Sheikh, Oman, UAE, New York, London, Chicago

☆ The biggest cruise ships keep getting bigger and it's splitting the industry in two
▼ + stars: | 2023-10-29 | by ( Brittany Chang | Hannah Towey | ) www.businessinsider.com time to read: +7 min

New cruise brands are launching smaller, luxury ships geared toward wealthy travelers. Large cruises are a "cash cow" for operators but experts say smaller ships have distinct long-term advantages. AdvertisementAdvertisementEvery year it seems a new world's largest cruise ship is crowned. To fill this void, several new cruise lines are taking an underdog strategy of building smaller luxury vesselsThe Ritz Carlton Yacht Collection. Smaller ships are better positioned to meet sustainability goalsBrittany Chang/InsiderMega-ships may be popular among some passengers, but the ports they're visiting aren't always fans.

Persons: —, Royal, it's, Aman, Brittany Chang, Stenius, Michael Ungerer, Explora, aren't, Jay Schneider, Schneider, Patrick Scholes Organizations: Service, Royal, Ritz Carlton Yacht, Ritz, Carlton, Shipping, MSC, MSC Cruises, Ritz Carlton, Cruise Lines International Association, International Maritime Organization, Truist Securities Locations: They're, Royal Caribbean, Ritz Carlton ., Europe, Bahamas, Caribbean

☆ Lobster dinners, luxury goods, and go karting: everyday travelers are splashing out on their cruises
▼ + stars: | 2023-10-28 | by ( Brittany Chang | ) www.businessinsider.com time to read: +6 min

Onboard spending jumped from an average of $66 a day to $81 a day from the second quarter of 2019 to the same time in 2023. AdvertisementAdvertisementFrom WiFi to fancy dinners to go-karting at sea , cruise travelers have been spending big at sea. In the third quarter of 2021, Arnold Donald, the former president and CEO of Carnival Corp, was already noting "off the charts" onboard spend . Amid the influx of ultra-cheap cruises , onboard spend caught up to and surpassed 2019 levels before fares did. "It's a longer sales cycle that helps build that overall onboard revenue product," Mark Kempa, Norwegian's executive vice president and CFO, said during the call.

Persons: —, Arnold Donald, it's, Holland America —, Robin Farley, Patrick Scholes, Brittany Chang, Harry Sommer, Sommer, Mark Kempa, Jason Liberty, Liberty, Scholes, We're, couldn't Organizations: Service, Carnival Corp, Holland America, UBS, Truist Securities, Farley Travelers, Royal, Norwegian Cruise Line Holdings, Royal Caribbean Group, MSC, Cartier, Rolex Locations: Royal Caribbean, CocoCay, Norwegian

☆ The era of cheap cruises is over. Here's how to find the best deal now.
▼ + stars: | 2023-10-21 | by ( Brittany Chang | ) www.businessinsider.com time to read: +5 min

In 2024 cruise fares will continue to increase past 2019 levels. Carnival Corp, for example, says it is "well positioned to drive 2024 pricing higher." AdvertisementAdvertisementSay goodbye to cheap cruises and get ready to dig deeper into your wallets for a 2024 cruise — demand is now driving future cruise fares to pre-COVID-19-pandemic levels. For 2024, pricing across the industry will be up about 8% compared to this year and 20% compared to 2019. AdvertisementAdvertisementThere's still one big culprit: pent-up demandCarnival Corp's CFO David Bernstein says the company is "well positioned to drive 2024 pricing higher."

Persons: —, itineraries, Tynan Smith, Patrick Scholes, David Bernstein, DANIEL SLIM, Josh Weinstein, Scholes, Smith, Brittany Chang Organizations: Carnival Corp, Service, Cruise, Truist Securities, Carnival, Getty Images, Royal Locations: Caribbean, Bahamas, Bermuda, AFP, Royal Caribbean

Like many other Black Protestant churches, Calvary Baptist struggled economically during the coronavirus pandemic. But the church has transformed its parking lot to accommodate game-day fundraisers, with volunteers from the congregation staffing the lots and selling spaces for $15 per vehicle. All 250 parking spaces at the Calvary lot were full when Messi’s Inter Miami played the Union. Sometimes, rival fans park at the church. The church parking lot is often full on game days.

Persons: Martin Luther King Jr, Keith Dickens, Calvary, ”, Dickens, Lionel Messi, Jeffrey Scholes, “, Scholes, ” Scholes, King, ” Abe Gitterman, Lisa Lewis, Leslie Cranford, RVs —, Jones, Cranford, Kevin Ness, Jill Connerym, Connery, Taylor, Kevin Ulmet Organizations: Eagles, NFL, Calvary Baptist Church, Major League Soccer, Philadelphia Union, Subaru, Union, Calvary Baptist, Green Bay Packers, MLS, Messi’s Inter Miami, Sports, Chester’s Crozer Theological Seminary . Chester, John’s United Methodist Church, Texas Tech, Red Raiders, T, ”, Christian Science Church, Red Sox, Christian, Christian Science, Bethany Church, Packers, Nashville, Church, Nazarene, Nissan, Tennessee Titans, Lilly Endowment Inc, AP Locations: CHESTER, Pa, Philadelphia, Delaware, Calvary, Lubbock , Texas, St, Boston, Fenway, Green Bay , Wisconsin, Nashville, Haiti, Kenya, “

☆ Business travel spending is recovering quicker than expected. These are the stocks to buy right now
▼ + stars: | 2023-09-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +6 min

There have been some encouraging signs that business travel is rebounding to pre-Covid spending levels sooner than anticipated, according to the Global Business Travel Association . Business travel was essentially shut down during the Covid pandemic, with many predicting a slow slog to revive sales and a landscape that would be permanently changed. Now the organization is predicting global business travel spending will surpass its 2019 spending level of $1.4 trillion in 2024, compared with its earlier forecast of 2026. Some 28% of those who make the business travel decisions and 32% of those in charge of company travel budgets said their workplace will increase business travel in the coming year, Morning Consult found. Of course, the recovery in business travel can also shift if there are changes in the economic environment.

Persons: Lindsey Roeschke, Roeschke, That's, Michael Linenberg, Linenberg, Patrick Scholes, Scholes, — CNBC's Michael Bloom Organizations: Global Business Travel Association . Business, Morning, Deutsche Bank, CNBC, American Airlines, Delta Air Lines, United Airlines, Ryman Hospitality Properties, Ole Opry, Hospitality, Hyatt Hotels Locations: Delta

☆ NCAA Football: Why you should cherish this college football season
▼ + stars: | 2023-08-31 | by ( Andy Scholes | ) edition.cnn.com time to read: +5 min

CNN —When it comes to tradition, passion and rivalries, there is nothing quite like college football. Stetson Bennett of the Georgia Bulldogs celebrates winning the College Football National Championship game in January. Legendary broadcaster Brad Nessler, who has called college football games all over the country for 30 years, said the Pac-12’s demise is a loss for the sport. The Super Conference eraNext year will mark the Super Conference Era for college football. Everybody makes the playoffsThe 2023 season will be the last for college football with just four playoff teams.

Persons: Stetson Bennett, Ezra Shaw, “, Brad Nessler, you’ve, it’s, ”, “ You’re, Pat Chun, Katelyn Mulcahy, Chun, Mike Gundy, Gundy, Michael Ezeike, Harry, Sam Wasson, you’re Organizations: CNN, ESPN, Fox, USC, UCLA, Georgia Bulldogs, College Football, Rutgers, Washington, Oregon State . Washington State, USC Trojans, San Jose State Spartans, Conference, Southeastern Conference, SEC, Atlantic Coast Conference, ACC, Oklahoma State, Oklahoma, UCLA Bruins, Texas Tech, Stanford, Apple, Washington State, Oregon, Texas, LSU, Florida State, Pittsburgh Panthers, Sun Bowl, Tulane, Boise State Locations: Texas, Oklahoma, Colorado, Arizona, Arizona State, Utah, Washington, Oregon, Stanford, California, Washington State, Alabama, El Paso , Texas, Boise, Cincinnati

The logo of the company Royal Caribbean is seen on the 'Wonder of the Seas' cruise ship, the world’s largest cruise ship, docked at a port in Malaga, southern Spain, April 30, 2022. Cruise operators lowered prices to lure passengers onboard following the pandemic, banking on onboard spending that has now reached record levels. Onboard spending in the second quarter rose 49.9% for Norwegian Cruise Lines (NCLH.N), compared with the same period in 2019, before the pandemic. Onboard spending rose about 36.8% for Royal Caribbean Cruises and 17.2% for Carnival in the same period. Carnival and Royal Caribbean said the percentage of guests who were new to cruising surpassed 2019 levels.

Persons: Jon Nazca, Patrick Scholes, Josh Weinstein, Bob Levinstein, Cruise, Carnival's Weinstein, Jason Liberty, Brandt Montour, Granth, Anil D'Silva Organizations: Royal, REUTERS, Royal Caribbean Cruises, Carnival Corp, Carnival, Cruise, Norwegian Cruise Lines, DISNEY WORLD, Walt Disney, Custom Travel, Reuters Graphics, Cruise Lines International, . Carnival, Barclays, Thomson Locations: Royal Caribbean, Malaga, Spain, U.S, Caribbean, Orlando , Florida, They've, Bengaluru, Doyinsola, New York

The Norwegian Pearl cruise ship is seen docked at Miami port, after Norwegian Cruise Line Holdings Ltd cancelled sailings amid rising fears of Omicron-related coronavirus infections, in Miami, Florida, U.S. January 5, 2022. Rival Royal Caribbean (RCL.N) last week forecast an upbeat third-quarter profit as well as lifted its annual profit expectations. Norwegian Cruise forecast its annual adjusted EBITDA, a key measure of profitability, between $1.85 billion and $1.95 billion, up from $1.80 billion to $1.95 billion previously. Despite undertaking price hikes on its itineraries, Norwegian Cruise has been bogged down by inflation and higher labor costs. Rival Carnival (CCL.N) has also forecast third-quarter profit below estimates on higher costs.

Persons: Marco Bello, Patrick Scholes, Royal, Harry Sommer, Norwegian's, Granth, Shinjini Organizations: Cruise Line Holdings Ltd, REUTERS, Reuters, Cruise, Royal, Truist Securities, Norwegian Cruise, Thomson Locations: Norwegian, Miami, Miami , Florida, U.S, Royal Caribbean, Bengaluru

☆ Cruises are increasingly adopting the strategy of budget airlines: Get ready to pay more for all the extras.
▼ + stars: | 2023-07-30 | by ( Brittany Chang | ) www.businessinsider.com time to read: +9 min

Cruise lines are seemingly adopting the budget airline model: Charge a base fare and pile on extras. Newer cruise ships have "more opportunities to upsell" with restaurant and entertainment options. In fact, cruise lines have told their investors recently that passengers are embracing these add-on costs — and enhancing their bottom lines. "Cruise lines are creative to try to make you forget you actually bought some things nine months ago," Scholes said. Cruise lines are trying to cut costs at the same timeThe cost of drink packages have been increasing on some cruise lines.

Persons: Brittany Chang, Patrick Scholes, Guy, Scholes, Silversea, It's, it's, Josh Weinstein, Tynan Smith, Kara Wallace, Royal Organizations: Cruise, New, Truist Securities, Norwegian Cruise Line, MSC Cruises, Royal, Royal Caribbean Group, Royal Caribbean, Carnival Corp, Street Journal, UBS, Royal Caribbean's Locations: New York City, Norwegian, Royal Caribbean, Royal, Brittany

☆ Wall St sees bargains and lure of Europe buoying cruise, hotel earnings
▼ + stars: | 2023-07-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +4 min

Passenger ticket and onboard spending revenue is expected to increase 66% and 36%, respectively. Cabin bookings in the second quarter were up 58% compared to this time last year. For Carnival, booking volumes in the second quarter were 17% higher than in 2019, Carnival CEO Josh Weinstein told investors in June. Meanwhile, investors will be watching if record nightly rates for on-shore accommodations can offset revenue in the second quarter. Hotel and short-term rental rates were about 18% and 35% more expensive in the second quarter than in 2019, according to analytics firms CoStar and AirDNA.

Persons: Brandt Montour, McKinsey, Sylvia Jablonski, Patrick Scholes, Josh Weinstein, AirDNA, Hilton, Doyinsola Oladipo, Granth, Susan Heavey Organizations: YORK, Investors, Hilton Worldwide Holdings, Royal Caribbean Cruises, Barclays, Royal, Carnival Corp, Cruise Line Holdings, Airlines, Cruises, Cruise, Truist Securities, Thomson Locations: Europe, United States, AirDNA . U.S, Asia, New York, Bangalore

☆ Patrick Mahomes and Travis Kelce claim upset victory over NBA’s Stephen Curry and Klay Thompson in ‘The Match’
▼ + stars: | 2023-06-30 | by ( George Ramsay | Homero De La Fuente | ) edition.cnn.com time to read: +3 min

CNN —With the Super Bowl heading to Las Vegas next year, could Patrick Mahomes and Travis Kelce’s unlikely golfing victory in Sin City be an auspicious sign for the Kansas City Chiefs? Mahomes and Kelce pulled off an upset 3 and 2 win against NBA stars Steph Curry and Klay Thompson in the eighth edition of “The Match” charity golf event, this year staged at Wynn Golf Club in Vegas. Quarterback Mahomes and tight end Kelce entered Thursday’s 12-hole game against their NBA counterparts as heavy underdogs, particularly given Curry’s prowess on the golf course. Mahomes and Kelce completed their victory on the next hole as the tight end – despite heckles from the side of the green – drained his close-range putt. The series started in 2018 when Tiger Woods and Phil Mickelson went head-to-head at Shadow Creek Golf Course in North Las Vegas.

Persons: Patrick Mahomes, Travis Kelce’s, Kelce, Steph Curry, Klay Thompson, ” Kelce, Andy Scholes, Quarterback Mahomes, ’ Curry, Ezra Shaw, Curry, Thompson, Trav, ”, “, Steph’s, Klay, Tom Brady, Aaron Rodgers, Mahomes, Josh Allen, Tiger Woods, Phil Mickelson Organizations: CNN, Kansas City Chiefs, NBA, Wynn Golf Club, Chiefs, Golden State Warriors, Getty, TNT, Warner Bros, HBO, TBS Locations: Las Vegas, Sin City, Vegas, United States, North Las Vegas

☆ Cruise stocks soar as industry rebounds. Here's what analysts expect to happen next
▼ + stars: | 2023-06-14 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Carnival and Norwegian Cruise Line hit 52-week highs Wednesday, while Royal Caribbean did so Tuesday. RCL YTD mountain Royal Caribbean year to date For Farley, Royal Caribbean stands out because it has about 64% of its cruises in the Caribbean, a strong market. Investors now may be waiting to see if there will be more price target increases from analysts after the latest run up. Royal Caribbean has 3% downside to the average analyst price target of $92.77 as of Tuesday's close, per FactSet. Carnival has 21% downside to its average price target of $12.11, and Norwegian has 15% downside to its $16.60 average price target.

Persons: It's, Jason Liberty, Patrick Scholes, Robin Farley, Matthew Boss, Bank of America's Andrew Didora, Josh, Didora, Farley, Truist's Scholes, James Hardiman, Greg Badishkanian, Scholes, Managements, Boss, CNBC's Michael Bloom, Josh Weinstein Organizations: shutdowns, Wall Street, Cruise Line, Royal, CNBC, Royal Caribbean, JPMorgan Chase, Bank of America, CCL, Bank of America's, UBS, Argus Research, Citi, Wolfe Research, JPMorgan, Investors Locations: Royal Caribbean, U.S, Miami, Tuesday's, Caribbean, Norwegian

☆ U.S. travel companies experience high demand but economic worries cloud outlook
▼ + stars: | 2023-02-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 24 (Reuters) - Fears of recession and the impact of inflation on consumer budgets could curb a rebound in travel demand reported by U.S. travel companies in the fourth quarter, although bookings are holding up so far this year, analysts said. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association. The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. International travel spurred demand growth for Airbnb and Marriott International Inc (MAR.O) in the fourth quarter. Group bookings are still down 15% compared to pre-pandemic levels, while headwinds in several industries continue to affect business travel, said Truist's Scholes.

☆ Cruise lines are raising gratuity and other fees amid a historic flood of cheap cruises
▼ + stars: | 2023-02-18 | by ( Brittany Chang | ) www.businessinsider.com time to read: +3 min

Cruise lines like Carnival and Norwegian have either raised daily gratuities, WiFi fees, or both. Cruise lines have seen an increase in onboard spending as they continue to add more premium amenities and dining. Others, like Norwegian Cruise Line, are raising the daily tip rate up to $5 for passengers staying in higher-end staterooms and suites. Meanwhile, Carnival has raised both daily gratuity and WiFi fees, the latter by $5 for premium WiFi. An increase in WiFi fees is just a "natural inflationary price increase," Patrick Scholes, an analyst at Truist Securities, told Insider.

☆ Hotel stocks normally benefit from large airline cancellations like Southwest, says Truist's Scholes
▼ + stars: | 2022-12-28 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHotel stocks normally benefit from large airline cancellations like Southwest, says Truist's ScholesPatrick Scholes, Truist Securities managing director, and CNBC's Leslie Josephs join 'The Exchange' to discuss Southwest Airlines flight cancellations and how it impacts the sector.

Last year, the industry handed out the biggest awards since 2006 as the economy roared back from the pandemic. It's a head-spinning reversal for dealmakers who racked up record profits for their firms last year and clinched eye-watering payouts for themselves. Compensation for FICC traders will probably rise slightly or stay flat, said Bell at Sheffield Haworth, while stock traders could see a small drop. Worsening economic conditions have already prompted firms including Morgan Stanley (MS.N) and Citigroup Inc (C.N), to trim their workforces. In the United Kingdom, most big firms are discussing and allocating bonuses now, with decisions not usually announced until early next year.

☆ Debt-loaded cruise lines' shares fall as Fed hikes rate and recession fears grow
▼ + stars: | 2022-09-23 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

He also noted the debt cruise companies racked up while their ships were anchored during the pandemic. As of Sept. 1, Truist estimates that Carnival holds $35 billion in debt, Royal Caribbean has $25 billion and Norwegian owes $14 billion. Norwegian, Carnival and Royal Caribbean did not respond to request for comment. But between high interest expenses and revenues that are still recovering, he said none of the cruise companies are yet "out of the woods." Carnival shares are down about 55% this year, while Norwegian stock is down about 35% and Royal Caribbean has fallen about 43%.

Search resuls for: "Scholes"

25 mentions found