Norwegian Cruise Line Holdings raised its profit forecasts for the fourth time in a row on Thursday, encouraged by strong bookings for sea-based holidays at higher prices.

The cruise industry has seen a strong demand for their services this year, as the prices are still more affordable than those of land-based vacations. This is due to the increased appetite for leisure travel following the pandemic.

The company has also increased its forecast for 2024 net yield or revenue per day cruise by 120 basis points, to approximately 9.4% from its previous outlook of 8.2%. This is due to the strength of all three brands and itsineraries during the second half year.

Cruise operator expects a profit adjusted to $1.65 per share in fiscal 2024. This is up from its previous estimate of $1.53.

In premarket trading, shares of the company that have gained 19% in this year were up by nearly 1%.

Royal Caribbean has also raised its profit forecast for this year by a fourth time, as a result of robust demand. (Reporting and editing by Devika Syamnath in Bengaluru, Savyata Mihsra from Bengaluru)

(source: Reuters)