** Shares of cruise operators Royal Caribbean RCL.N, Carnival Corp CCL.N jump in 2025 buoyed by steady bookings for sea-based vacations, especially to the Caribbean and higher ticket fares
** Norwegian Cruise Line Holdings NCLH.N snaps two-year winning streak to fall ~13% this year hurt by cost pressures and cooling bookings by travelers
** Stocks of RCL and CCL up about 22% and 24% YTD, extending gains for third consecutive year
** Budget-conscious customers limit their onboard spending and hunt for affordable cruise options amid growing strain on household budgets
** Analysts at Jefferies expect companies with higher exposure to European itineraries, including those from Carnival and Viking Holding VIK.N to benefit from lower competition
** Viking shares rise 64% YTD after going public late in 2024
** So far this year, S&P 500 Hotels, Restaurants & Leisure index <.SPLRCHRL> up 6% compared with a 17% rise in the S&P 500 index .SPX
Company | RIC | 2025 YTD | 2024 | 2023 |
Norwegian Cruise Line Holdings | NCLH.N | -12.8 | 28.4% | 63.7% |
Royal Caribbean | RCL.N | 22.1% | 78.2% | 162% |
Carnival Corp | CCL.N | 23.7% | 34.4% | 130% |
(Reporting by Koyena Das in Bengaluru)
((Koyena.das@thomsonreuters.com))