Many of people, including myself, think the stock market needs to go down another leg before the economy can truly begin to rebound. The continuing recession is trying all of us—no matter which sector of the market we focus upon.
There's been a lot of talk in the cruise industry about which companies are the strongest and which may not make it out of this down cycle. Peter Deilmann has exited the river cruising business and Windstar Cruises is working hard to restructure and get back on track. There are rumors about other lines but we'll need to wait and see what shakes out over time.
Several of the luxury cruise lines, like Seabourn and Regent, have done an excellent job marketing their itineraries and keeping ships filled—albeit at reduced fares, in many cases.
Luxury resorts are also experiencing intense challenges and in Saturday's Global Business section of the New York Times, reporter David Segal wrote a terrific piece about the Four Seasons empire and its plan to protect its brand. "Pillow Fights at the Four Seasons" is definitely worth a read.
There is no one "right" way to get through these tough times, but the brands that persevere and stay true to their core mission will keep their clientele. At least the ride won't be boring!
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