2 days ago
Cruise veteran urges luxury lines to copy Gucci and Armani's pricing strategies
Oceania is currently undergoing a rebranding exercise that will see the line return to the luxury space after being marketed as an 'ultra-premium line' in recent years.
And with 56 luxury ships slated to launch before 2029, Odell urged lines to hold their nerve and not to drop their prices in a bid to fill capacity.
Odell told TTG: 'One of the big challenges of the ultra-luxury cruise market is making sure that pricing integrity is maintained. Without naming any names, we often see fleets expand and then prices soften. Luxury cruises could become perishable. It's a reality.'
Odell, who has worked for ultra-luxury cruise brands for more than 25 years, praised The Ritz-Carlton Yacht Collection for keeping pricing high since entering the market in 2022. The line, widely known as a luxury hotel brand, is launching its third vessel this year.
Outside of the cruise sector, Odell singled out the Gucci and Armani brands for their pricing strategies, suggesting that some cruise brands could copy them.
He confirmed there are times during the year when ultra-luxury line Regent Seven Seas cannot sell every cabin.
'In this situation, we tend to add value. We upgrade a suite or add a land experience – pre and post-cruise. We try not to drop the price,' he explained. 'We try to sell early and get ahead of the booking curve.'
Premium market 'a feeding ground'
Despite Oceania's return to the luxury cruise space, Odell insisted the premium market is considered an asset by high-end lines.
'We need the premium sector because it's a feeding ground for the luxury sector,' continued Odell. 'If you're on a Royal Caribbean ship and you book a loft suite that's the same price as luxury cruise.'
Odell took charge of sales operations for both Oceania and Regent Seven Seas earlier this year following the departure of Frank A. Del Rio from his role as Oceania president and then the return of Jason Montague as chief luxury officer for the lines' parent Norwegian Cruise Line Holdings.
