Last month, several of us at IDeaS had the chance to attend Seatrade Cruise Global 2025 conference, and the event left the team with plenty to reflect on. Bringing together industry leaders, innovators, and enthusiasts, Seatrade provided a platform to discuss the future of the cruise industry.
While we could go on and on about the productive conversations, spectacular exhibits, and other highlights better experienced than retold, we’ll keep it brief if you couldn’t join us.
Here are some of the key takeaways from this year’s event:
Record-Breaking Q1 Is Early Show of Strength Amid Uncertainty
It’s clear from our conversations that there are plenty of perhaps unexpected variables coming into play for the cruise industry in 2025 and beyond. But for now, financial reports from the first quarter of the year came in with largely positive results.
Carnival Corporation, for instance, reported record first-quarter revenues of $5.8 billion, up over $400 million compared to the previous year, along with a 7.3% YoY constant currency increase in Net Yield. This impressive performance was driven by strong demand across their portfolio, exceptional close-in demand, and robust onboard spending. Royal Caribbean and Norwegian Cruise Lines also posted strong results, reporting $4 billion in total revenue (a 5.6% YoY constant currency Net Yield increase) and a $2.1 billion in total revenue (a 1.2% YoY constant currency Net Yield increase) respectively in Q1.
“Our first quarter was truly characterized by outperformance. This was across the board and led by incredibly strong demand throughout our portfolio,” remarked Josh Weinstein, CEO of Carnival Corporation on their Q1 performance.
The potential headwinds from geopolitical conflicts and ongoing shifts to economic policy are being carefully monitored but have yet to damper the industry outlook. Crystal Pernici, Global Director – Cruise RMS at IDeaS, shared there’s reason for cautious optimism, noting recent reports forecasting 36 million cruise passengers in 2025, of which 17 million are based in the US.
As Weinstein put it, “We’re not immune from a recession, but we are super resilient.”
Increased Inventory and Supply Is En Route
Another clear takeaway from this year’s show is the overall strength of the industry’s supply pipeline. The development of several impressive new vessels are underway across the globe’s shipyards, with the latest Cruise Ship Orderbook reporting 15 ships representing over 38,500 in new passenger capacity are projected to be completed in 2025.
“Every year operators must contend with a shifting landscape of cabin supply, and new additions can have a significant impact to your ability to maintain profitability,” says Pernici. “With responsive pricing and inventory strategies fueled by advanced forecasting capabilities, operators are better able to adjust and ensure they’re not just filling the ship—but filling it with the most valuable guests.”
Embracing Technology for Industry Growth
At IDeaS, we are excited about the advancements in technology and how they are primed to help advance revenues for the cruise industry. With persistently dynamic guest demand, smart organizations can capitalize with automated pricing and inventory management that helps to ensure they’re filling ships with the right mix of guests to maximize their revenue potential.
That’s a real pivot in the way business as usual gets accomplished in the cruise industry, but with the right data, technologies and processes in place, the future for cruise revenue management is looking as bright as it ever has.
“Early adoption of advanced cruise revenue management technology might look like a ripple at first, but I firmly believe we’re positioned to unleash a transformative tidal wave of innovation upon the industry,” says Michael Maher, Area Director – Cruise at IDeaS. “That’s an incredibly exciting prospect for us and for the organizations we’re in discussions with.”
Want to learn more about how Cruise RMS can help your organization maximize its revenue potential? Check out the Cruise Revenue Management page.