Barclays on U.S. Leisure: Takeaways from Cruise Agent Panel - Continued Headwinds
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Rating Summary:
4 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
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Barclays hosted a conference call of travel agents to discuss recent trends in the cruise industry.
Analyst, Felicia R. Hendrix, said, "Overall, we believe that cruise demand continues to experience headwinds that began with the Concordia incident and that have been exacerbated by higher airfare and the media focus on recent cases of Norovirus on board cruise ships. In particular, demand from potential first-time cruisers has been weak relative to repeat cruisers, who view these events as isolated incidents. The agents reported that the cruise lines are offering a vast array of promotions for potential cruisers (e.g. room upgrades, onboard credits, prepaid gratuities) to help fill ships, but have continued to hold pricing. If demand continues to remain soft, the panel expects to see price cuts within the next 2 to 4 weeks."
Stocks of Note: Carnival (NYSE: CCL) and Royal Caribbean (NYSE: RCL)
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Analyst, Felicia R. Hendrix, said, "Overall, we believe that cruise demand continues to experience headwinds that began with the Concordia incident and that have been exacerbated by higher airfare and the media focus on recent cases of Norovirus on board cruise ships. In particular, demand from potential first-time cruisers has been weak relative to repeat cruisers, who view these events as isolated incidents. The agents reported that the cruise lines are offering a vast array of promotions for potential cruisers (e.g. room upgrades, onboard credits, prepaid gratuities) to help fill ships, but have continued to hold pricing. If demand continues to remain soft, the panel expects to see price cuts within the next 2 to 4 weeks."
Stocks of Note: Carnival (NYSE: CCL) and Royal Caribbean (NYSE: RCL)
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