Viking, a cruise line that recently went public, has revealed some impressive booking numbers during its first earnings call. The company announced that 91% of its ocean and river product is already sold out for 2024, with an additional 39% capacity booked for 2025. These numbers put Viking on par with the world’s three largest cruise companies in terms of booking success.
The success of Viking’s bookings is especially evident in its ocean cruises. As of May 19, 91% of the ocean capacity for this year is sold out, with an additional 47% of next year’s capacity already booked. This strong performance is attributed to Viking’s decision to open up bookings for the 2025 ocean season earlier than for river cruises. Additionally, the company has seen a 16% and 30% increase in advance bookings compared to the 2023 and 2024 seasons, respectively.
Viking’s financial success is further highlighted by a 13% year-over-year increase in prices. The company is also expanding its operating capacity, with a 17% increase in 2025 over 2024. This growth is supported by the addition of new ships, such as the Viking Vela and Viking Vesta, scheduled to join the fleet in the coming years. Viking has a steady lineup of vessels set for delivery each year through 2029, with plans for more ships in the following years.
One key factor in Viking’s success is its long ocean cruising booking curve, which provides visibility into market trends and customer preferences. This allows the company to make informed decisions about future itineraries and adjust its offerings accordingly. Despite its strong performance, Viking’s chairman and CEO, Tor Hagen, has indicated that the company is not planning to expand into new regions at this time.
Viking Cruises has emerged as a major player in the cruise industry, boasting impressive booking numbers and financial growth. With a strategic approach to expansion and a focus on customer preferences, the company is well-positioned for continued success in the years to come.