|Last Quarterly Update:||1/30/2017|
|SIC Codes:||4481, 4489|
|NAICS Codes:||483112, 483114, 483212|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry operate deep sea cruise ships and inland/coastal cruise ships. Major companies in the deep sea cruise segment, which accounts for about 95% of industry revenue, include Carnival, Disney, Norwegian Cruise Line, and Royal Caribbean Cruises (all headquartered in the US); major operators based outside of the US include Genting Hong Kong and TUI (Germany).
Top deep sea cruise destinations include the Caribbean, the Mediterranean, Hawaii, Alaska, and Canada. The Caribbean is the most popular, representing about a third of all deep sea cruises, according to the Cruise Lines International Association. About 60% of the world's cruise passengers are from North America.
The US cruise ship industry includes about 400 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $17 billion.
Demand for cruises is driven by consumer disposable income and vacation preferences. Small operators have the competitive advantage of lower labor and equipment costs and more personalized service; large operators benefit from stronger bargaining power in vendor contracting, the ability to spread costs over a larger number of passengers, and greater financial resources for marketing, expansion, and investment. The US deep sea cruise segment is highly concentrated: the four largest companies generate more than 90% of segment revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Passenger ticket sales account for the majority of industry revenue. Many cruise lines offer all-inclusive packages in which the costs of food, beverages, and standard ...
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