Viking, one of the largest and fastest-growing ocean and river cruise lines, recently went public and provided a glimpse into its booking statistics during its first earnings call. The company revealed that like the other big players in the cruise industry, its bookings are soaring.
According to Viking’s Q1 earnings call, an impressive 91% of its ocean and river product is already sold out for 2024, with 39% of the 2025 capacity also booked. Specifically focusing on ocean cruises, the numbers are even more impressive. 91% of the ocean capacity for this year is already sold out by May 19, and nearly half (47%) of next year’s capacity is booked. When it comes to river cruises, 92% of the capacity for this year is sold while 30% is booked for 2025.
Viking executives highlighted that advance bookings for ocean cruises are 16% and 30% higher compared to the 2023 and 2024 seasons respectively at the same point in time. The company is experiencing a 13% increase in prices year over year, indicating strong demand for its cruises. Viking’s ocean cruise booking strength is backed by a 17% increase in operating capacity in 2025 over 2024, with new ships like the Viking Vela and Viking Vesta joining the fleet.
Viking has a steady lineup of ocean vessels scheduled for delivery every year through 2029. The company recently announced an order for its 17th and 18th ships for delivery in 2029, with options for two more the following year. Viking’s long ocean cruising booking curve allows them to understand which itineraries are popular and make informed decisions about future routes.
Despite its strong position in the cruise industry, Viking’s CEO, Tor Hagen, mentioned that the company does not plan to venture into new regions with its ocean ships at this point. This decision is likely based on the current success of their existing itineraries and capacity.
Overall, Viking’s record booking position reflects a positive trend in the cruise industry, with high demand for both ocean and river cruises. The company’s strategic approach to capacity expansion and pricing has contributed to its strong performance and outlook for the future.
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