Royal Caribbean issues 'think fast' warning to anyone looking to book a cruise

The world's largest cruise lines has issued urgent 'think fast' warnings to those thinking about heading on a holiday on the open seas any time soon.

Millions take to the oceans every year, choosing to spend their annual summer break on a cruise ship rather than a more traditional beach holiday or city break.

They're not the only kind of cruise on offer, with one package taking you on a nine-month long cruise around the world.

Then there's the 'spicy cruise', where debauchery takes centre stage on the open seas as those in open relationship share partners with total strangers.

Well, those looking to head on any kind kind of cruise should take note of a new warning issued by the world's largest cruise lines, those being Carnival and Royal Caribbean.

In an announcement about its first quarter results for 2024, Carnival's CEO, Josh Weinstein, said the company had had a 'fantastic' period with 'record revenues, record bookings, and record customer deposits'.

And in a similar announcement, Royal Caribbean CEO Jason Liberty confirmed 'very, very strong demand in to 2026'.

Royal Caribbean's Icon of the Seas is the largest cruise ship on the planet (Joe Raedle/Getty Images)

But this period of success has come at a cost to those looking to head on a cruise. And that cost is a literal one.

Liberty said: "Guests are making their decisions much further out.

"When we look at the repeat rates that are going on and the dreaming that our guests are doing to make sure that they're getting the vacation experience that they want is really all leading to very, very strong demand trends for 2024 as well as 2025. And by the way, we're also taking bookings into 2026."

Unfortunately for the less eager cruiser, the sheer number of advanced bookings means the premiums for the different packages on offer are going up.

Pool area on the top deck of Royal Caribbean's Wonder of the Seas (Jesus Merida/SOPA Images/LightRocket via Getty Images)

Pricing on cruise packages is described as 'dynamic'. The reality of this is that it fluctuates based upon demand.

The more people booking cruises and all the extras that some with them - we're talking drinks packages or excursions - the less a cruise line needs to cut its prices to sell the product. In fact, it can be quite the opposite.

Last year, Weinstein said: "We're looking at growth with respect to price increases as we get to 2024, 2025 and 2026."

So if you want to head on a cruise any time sooner, it's clear as day that the market dictates you book sooner, not later.

The best thing about many cruise packages is that you can re-price your package going up to the final payment needed on your holiday.

The Carnival Miracle cruise ship (Kevin Carter/Getty Images)

As reported on cruising fan website royalcaribbeanblog.com, one passenger wrote: "Another benefit to booking early is that you can reprice your cruise up to final payment.

Let's say that I notice that the cost of my Icon [of the Seas] cruise decreases. Right now, I feel as though I booked at the perfect time, as the price increased significantly.

"If it happens to decrease I'll still feel like I booked at the right time because I can take advantage of the lower price."