Cruise Lines "Cruise Channel Check" Farley

研报英文原文证据摘录

Cruise Lines "Cruise Channel Check" Farley

Global Research

18 May 2026ab

Cruise Lines Equities

AmericasCruise Channel Check

Leisure Goods & Services

Robin M. Farley

We caught up with one of the largest US cruise sellers to talk about current booking Analyst

trends and learned a few key takeaways: robin.farley@ubs.com

+1-212-713 2060

While he had mentioned last month that April started below expectations (which had Arpine Kocharyan

called for a double-digit increase against last year’s market dislocations), the second half Analyst

of April did in fact recover to up double digits, so the full month ended up with volume arpine.kocharyan@ubs.com

up high single digits, just below the original expectation of double-digit. +1-212-713 2086

Alex Kivali

AnalystThe first half of May has been mixed, with some strong days up mid-single digit YOY in

alex.kivali@ubs.com

volume but some days not that high, so the month to date is up low single digits YOY - +1-212-713 3945

-but he notes that last year May and June benefitted volume that had shifted from April.

He believes May and June will be up low single digit in volume, while the FY expectation Anoop Savio

Associate Analystis for mid-single-digit volume growth.

anoop.savio@ubs.com

+1-212-713 1057

Sequentially April is always a softer month, and they are seeing gradual improvement

Derin Sezercan

and expect that to continue. Some weeks, Wed may be strong, Thursday soft, and then Associate Analyst

Friday strong again. When he talks to the head of sales at cruise lines, they don’t seem derin.sezercan@ubs.com

worried or panicking since they generally have long booking windows. +1-212-713 4716

Robert Henry

Our cruise seller didn’t even mention headlines about a virus that originated in Associate Analyst