The strategy has put an end to deep, last minute discounts within the period up to 30 days prior to sailing. Though it's costing the company a bit when cabins sail empty that at least could have generated on-board revenue, Fain said the policy is expected to have long-term benefits.
Loyal customers like it, travel agents like it, and the strategy has helped lengthen the booking window.
It's been in place seven months or so and 'we haven't granted a single exception to the policy ... We stood firm and made zero exceptions,' the Royal Caribbean chairman and ceo said.
As with any new policy, 'We need to be a little bit cautious as we roll it out,' Fain told analysts during the company's third quarter earnings call.
'The roll-out has been very encouraging,' he said.