CEO Weinstein sees Carnival as cushioned against recession

'We don't see a slowdown. We are very well-booked for the next 12 months and those bookings are sticky,' Weinstein told analysts during the company's second quarter earnings call.

Carnival reported total bookings made during Q2 reached a new all-time high for future sailings and said its cumulative advance booked position for full year 2024 is above the high end of the historical range at strong prices.

'Outrageous and ridiculous' value gap

Referring to what he called the 'outrageous and ridiculous' 25% to 50% value gap between cruises and land vacations, Weinstein said if there is an economic slowdown and airlines, hotels and resorts take their rates down, 'We are still outsized in our value. As a result, if there is a recession, we stick out for the right reasons — because of how far your holiday dollar can go.'

On top of that, Weinstein noted Carnival Corp. brands have positioned their ships so that 75% of customers can drive or take land transportation to the homeports, cutting out air costs. This, too, helps consumers looking to stretch their vacation dollars.

High employment

Every recession is different, Weinstein added. This one would come at a time of 'record employment and people are still wanting to purchase experiences, particularly travel, which bodes quite well for us.'