Bookings are booming at the Carnival cruise line as wealthy tourists scramble to book travel despite rising ticket prices
Cruise line Carnival says business is booming as wealthy tourists rush to book trips.
The company, whose cruise lines include P&O Cruises and Cunard, which operate the Queen Mary 2, Queen Elizabeth and Queen Victoria, reported record second-quarter revenue of £3.9 billion.
And it said total bookings hit a new high despite rising prices.
All aboard: Carnival, which operates the Queen Mary 2, Queen Elizabeth and Queen Victoria, reported record second-quarter revenue of £3.9 billion
“Booking volumes are huge,” said chief executive Josh Weinstein, who took charge in August last year.
But Carnival shares fell 12.1 percent, or 134.2 pence, to 974.8 pence after it warned third-quarter earnings would be below estimates as it grapples with higher staff and fuel costs.
The stock is still up around 70 percent this year, following a strong rally as the cruise industry recovers from the pandemic.
Michael Hewson, chief market analyst at CMC Markets UK, said: “The shares have made solid gains in recent weeks ahead of a decent string of numbers, so this pullback could be just a case of some investors cashing in gains.”