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When Do Cruise Prices Drop?
Did you know that cruise lines often drop prices significantly 60 to 90 days before sailing to fill any remaining spaces on the ships? Do you want to book a cruise but are wondering when the prices will drop?
Unfortunately predicting exactly when cruise prices will drop is not an exact science. The primary indicator of price is supply and demand. If a ship has vacant cabins, the cruise line may drop the price to fill those empty rooms. It is better for the cruise line to sell reduced priced cabins and have a full ship rather than to leave those cabins unoccupied. Even if the cruise price is reduced dramatically, the cruise line can still earn a profit with onboard upsells like signature dining, gambling, shore excursions, photo purchases, and other onboard activities available for a fee.
Demand usually increases during school holidays, spring break, summertime, and during the Christmas season. Demand is generally lower other times of the year (hurricane season for example) and the price may drop accordingly if vacancies exists amongst the ships.
Tips for Taking Advantage of a Price Drop
If you have the flexibility to wait and see if a price drop occurs for a cruise, you can just wait and see what happens before you book it. For most people flexibility is not an option especially if you need to request time off from work, arrange a house sitter or pet sitter, etc. Following are some tips you can use to take advantage of a price drop once you have already selected and booked your cruise of choice.
Book Early and Don’t Pay in Full
Cruise lines generally offer incentives to travelers for booking their cruise far in advance. Once you find the specific cruise you want, I would suggest booking it. This allows you lock in a reduced price from the start. Did you notice the heading says, “don’t pay in full?” That’s right. Many cruise lines will offer price adjustments to travelers if the price of your cruise has dropped after you have already booked. The reduction in price, of course, must be on the same cruise, date, ship, type of cabin, etc. that you selected during the booking process. If you have booked an interior cabin and the price of a balcony cabin has dropped by $50, this price drop will not allow you to realize any savings.
If you have already paid your cruise in full and a price drop occurs, you will not be eligible in most cases for a price adjustment. Instead many cruise lines will offer you the difference in price in the form of an onboard credit. This credit will be assigned to your onboard ship account and may be used for onboard purchases. If you don’t mind receiving an adjustment as on onboard credit, paying in full will not be an issue. Keep in mind that if you do not spend the entirety of the onboard credit, the remaining unused balance will most likely be nonrefundable.
Monitor the Price of Your Cruise
So now you know cruise lines will offer price adjustments if the cost of your cruise has dropped after you have already booked it. This is not automatically done however. If you want to receive a price adjustment, or onboard credit if you have already paid in full, you must make a request for the adjustment. Some people suggest signing up for the cruise line’s email list. This is fine but the likelihood of receiving an email indicating a sale for the exact cruise ship, sailing date, and cabin type is slim to none. An easier way to check for yourself is to simply go to the cruise line’s website and select the same cruise, sailing date, and cabin type as if you were booking a new cruise. If you have made selections identical to your existing booking and the price has dropped, simply contact your cruise line or travel agent to request a price adjustment.
Cruise During Off-Peak Season
If you have selected a cruise during off-peak season, the likelihood of a price drop increases. Remember, cruise lines drop prices based on supply and demand. During off-season the demand naturally decreases, and the likelihood of a price drop increases.
Other tips I have heard include downloading price tracking apps or other paid services that monitor cruise expenses. Personally, I would not spend money in hopes of tracking down additional savings for my cruise. I always know the cost of my cruise at the time of booking and I am satisfied paying that price otherwise I would not have booked it. I have known for some time that price adjustments are an option when prices decline but personally I find it is not worth the effort to continuously monitor prices for an adjustment or onboard credit that may never actually occur.
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