It’s been five months since the Costa Concordia sank off of the coast of Tuscany.As expected, cruise ticket prices and booking plunged in the wake of the disaster.
However, both prices and bookings for Costa Cruises have been on the mend, writes Robin Farley, UBS’s leisure goods and services analyst. From her note to clients this morning:
Costa pricing up slightly sequentially and has now recovered a cumulative 3% (over last 10 weeks) of ~8% drop that the brand saw in late March/early April, which seems an encouraging indication that incoming booking volumes have been satisfactory.
This is also surprising given the debt crisis and deteriorating economic situation in southern Europe.
Sure, there’s still a ways to go before the industry fully recovers. But there seems to be hope.
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