
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% |