Emerging Trends in the Cruise Industry: Analysis of Princess Cruises

Running head: TOURISM AND HOSPITALITY MANAGEMENT
Tourism and Hospitality Management
Name of Student
Name of University
Author Note

1
TOURISM AND HOSPITALITY MANAGEMENT
Table of Contents
Introduction................................................................................................................................2
Overview of the current cruise industry climate........................................................................2
Company overview....................................................................................................................4
First trend: Luxury travel........................................................................................................4
Second trend: Personalised onboard experience....................................................................6
Conclusion..................................................................................................................................8
Reference....................................................................................................................................9

2
TOURISM AND HOSPITALITY MANAGEMENT
Introduction
In the modern changing it is important to identify the emerging trends that may have
an effect on the possibility of gaining profit for an organisation. According to Ahola,
Salovuori and Lehtonen (2015), changes and emergence of trends in the tourism and
hospitality industry has been massive and it is for this reason that precautions have been
taken to ensure that these changes are met with a positive aspect. Every change that takes
place in the tourism and hospitality industry can be attributed to the growing demands of the
customers and the rise of competition from other companies within the industry.
The assignment focuses on analysing the changes that has taken place in the cruise
ship industry. The cruise ship industry is one of the oldest hospitality management that has
been in existence since the beginning of modern vehicles. Therefore, recent trends and
changes can have a significant effect on the development of the industry and the manner in
which people respond to it. The focus of the study is on two emerging trends that have a
significant impact on the cruise ship industry. These trends include the luxury travel and the
personalised onboard experience that people have while travelling via a cruise. The
organisation that is in focus is the Princess Cruises.
Overview of the current cruise industry climate
Currently the cruise industry climate can be considered as an emerging trend mainly
due to the interest of the people in trying to make a trip around the world. Analysis from
Mendes and Guerreiro (2017) stated that number of sales of the cruise industry is on the rise
from its initial years. Records show that 79% of the travel agents are usually interested in
booking a cruise course for an effective mode of travelling. This has been consistent for
several years and has not seen any type of fluctuations. As pointed out by Chua et al. (2015)

3
TOURISM AND HOSPITALITY MANAGEMENT
cruise is one of the most economical mode of travelling and many families find it to be an
appealing form of travel each day.
Due to this, there has been a considerable increase in the scheduling of various cruise
liners so that more customers can be taken for the industry. Current records say that the
booking volume is continuously on the increase and about 41% of the travel agents have
stated the rise of cruise booking by 10% each year. At the same time, sales of the cruise ship
have also increased to 22% as opposed to the 17% in the past few years. Therefore, as stated
by Kriwoken and Hardy (2018) cruise ships is considered as a positive influence in the
increase of sales in the industry.
Figure 1: Booking volume
(Source: Mileski, Wang and Beacham 2014)
Figure 2: Sales volume