Bloomberg Talks Carnival CEO Josh Weinstein Talks
Mar 21, 2025
Josh Weinstein, President, CEO, and chief climate officer of Carnival Corporation, shares insights on the booming cruise industry, revealing strong demand and onboard spending. He discusses the significance of unique destinations, especially in Alaska, and emphasizes mental health's role in travel. Despite recent stock challenges, Weinstein remains optimistic, detailing pricing strategies and regulatory hurdles. He highlights the potential for new island destinations like Celebration Key, while addressing environmental sustainability's importance in cruising.
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Strong Q1 Performance
- Carnival's Q1 yields exceeded expectations, rising by 7.3% instead of the projected 4.7%.
- Strong consumer demand allowed Carnival to raise its full-year profit guidance despite uncertainties.
Cruise Demand Remains Strong
- Cruising has not seen the same slowdown as airlines because it focuses on vacations, not business travel.
- Strong bookings and record wave season volume indicate continued consumer interest in cruising.
Onboard Spending and Value
- Onboard spending increased by 10% year over year in Q1, showing strong consumer behavior.
- Cruising offers value, which is attractive to consumers during times of economic uncertainty.