Cruise Line Stocks Rising on Higher 2021 Bookings
The coronavirus may have docked cruise ships for most of 2020.
But it’s not stopping cruise stocks from exploding higher on pent up demand and higher bookings for international cruises in 2021.
Royal Caribbean (RCL) was up nearly 10% to $57.31 on Monday. Carnival (CCL) was up nearly 9% to $15.44, as Norwegian Cruise Line Holdings (NCLH) jumped 8%.
“I think we are seeing that there is a pent-up demand. People are frustrated being at home and being isolated,” Royal CEO Richard Fain said in an interview with CNBC’, ”after the company reported earnings. “I don’t think that’s a surprise.”
“We have been both humbled and surprised with the amount of bookings we’re seeing for 2021 with literally no marketing efforts. And frankly, very little good news,” Fain said on the call. “But the tone of our bookings, especially as we get into the second half of 2021, has been encouraging. Our guests want to come back… Families want and need to vacation.”