Cruise Lines Relax Cancellation Policies, Hold the Line on Coronavirus-Related Discounts
Photo Credit: Norwegian Cruise Line is among cruise lines that have made temporary modifications to cancellation policies due to coronavirus concerns. Norwegian Cruise Line
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While dealt a blow by coronavirus, the cruise industry is managing to hold the line on pricing, at least for now. The long-term impact of the crisis remains to be seen, but the cruise industry has weathered many others in the past.
While coronavirus has left few corners of the travel industry unscathed, its impact has been especially worrisome for the cruise segment, given the dramatic coverage of ship quarantines and the history of virus outbreaks onboard ships.
Although financial analysts and cruise experts acknowledge the severity of the coronavirus impact, many think any damage to the cruise business will be short-lived once the crisis has abated.
“This definitely appears to be among the worst issues facing our industry in over 30 years,” said Anthony Hamawy, president of Cruise.com. “I can’t imagine any cruise line not feeling the impact on their business.”
However, he added that he expects the situation to return to normal within weeks of coronavirus no longer being front-page news. “The cruise industry is extremely resilient.”
Sharon Zakfia, an equity analyst with William Blair in Chicago, also noted the resiliency of the cruise industry.
“If you look at prior (virus) outbrea
