Is it smart to book two years in advance?

[goldentrio]

I have only cruised a handful of times, and I'm looking at a cruise for March 2025. Should I consider booking it now, or waiting a while to see if the price drops or just to make sure I don't change my mind? I've never booked a vacation more than 6-7 months in advance. What are the pros and cons of booking this far in advance?

Edited April 22, 2023 by goldentrio

[Tlbecker1]

I would book it now.  If the price decreases before the final 90 day final payment, they will honor the new price.  
 

The pros are that you have locked in at the lower price and the cons are that you have locked in your deposit.

 

In my experience cruise prices in the last year have only increased.

[Magicat]

Yes, we have 7 cruises book from now to April 2025.  

[davekathy]

We do. We like to make sure we get the dining time we want and the cabin location, deck and cabin number. Monitor the price. 

[shof515]

book now, you can always reprice unlimited number of times if the fare goes down

[brevardcruiser]

1000% book them now!  Have you seen the price of cruises lately?

[smokeybandit]

Prices are usually cheapest that far out, and sometimes much cheaper

[BennyandBo]

Do you really think anything will be cheaper a year to two years from now?LOL. Think about it. 

[gmerick]

Booked for Odyssey 27 Jan 2025 while on Anthem 24 Jan 2023.  Next Cruise deposit was only $100.  I already repriced for a 35% price drop.  Not at all sure what my situation will be in two years, but I have the cabin and sailing locked in.  When September 24 rolls around I hope I can still travel, but if not I'm only out $100 (and two years capital gains).

[ReneeFLL]

Book now like others have said. If you think there’s a possibility that you might change your mind book with a refundable deposit. Refundable deposits are more so you need to decide if it’s worth losing the deposit over paying more for a refund if you do change your mind. 

[mets123]

I always book as soon as the new itineraries come out. This way I get the room I'm looking for. I've got 15 booked going through March 2025. I'll be on the Anthem this Sunday and expect to book one and maybe two more thru Next Cruise.

 

 

[mugtech]

We always book as far ahead as possible, but hold off on flights and hotel rooms until about 8 months before the cruise.  We have found many cruises in Asia get cancelled or chartered, but usually before the 8 month date.  Just had a Norwegian January 2025 Taiwan to Singapore go charter on us.  Probably get a 10% future cruise credit as a reward for having booked early.

[lovesthebeach2]

We always try to book well in advance, prices always seem to go up on the cruises we take.

If you think you may cancel in the future, you can book a refundable deposit.

[alfaeric]

Just remember to keep an eye on the price over time as you can lower your fare up until final payment time. 
 

We, too, have been booking early for years, so….

[firefly333]

Book refundable. My TA has refundable group rates or I'm not sure I'd feel comfortable. I'm already iffy on my oct 2024 and dec 2024 bookings. My mom died since I booked and now I might move by then. When I booked my plans were to stay here and help my mom. 

 

I thought I knew my future but life changed unexpectedly and having refundable deposits, I can change and move my bookings or keep them.

[DirtyDawg]

Lots of benefits to booking early BUT you have to consider at least 2 other things.

 

1. What is the opportunity cost of not having the deposit in your pocket/bank account/investment account for the time before your cruise. If you are giving up nothing because the money would otherwise be stuffed in your mattress, the opportunity cost is zero. (Could actually be negative because your deposit will not lose purchasing power due to inflation)  But if you give up 2 years of investment earrings, it could be significant.  (ex. the historic return of the S&P 500 is about 11%-12% per year since it's inception). Of course, the Crypto fans would say if you 'invest' in Crypto your would be giving up a whole lot more.😉 Now, since any opportunity cost is just on your deposit, in most cases it will not be a significant offset to the benefits of booking early, but they need to be considered. 

 

2. With the current financial state of the cruise industry you should also consider the probability of losing your deposit if the cruise line goes bankrupt before your cruise.  @goldentrio I don't know your location but you should check relevant consumer protection laws where you are located and/or recovery possibilities through your credit card provider if you are planning to pay the deposit that way. 

 

Again. lots of benefits from booking early but you also have to consider, at least, some of the downsides.  Have a great cruise in 2025!

 

And as @firefly333 said, if you do book early book refundable.

 

Edited April 22, 2023 by DirtyDawg

[Biker19]

1 minute ago, DirtyDawg said:

With the current financial state of the cruise industry you should also consider the probability of losing your deposit if the cruise line goes bankrupt before your cruise. 

If something bad enough happens to cause RCI to go bankrupt, folks would have way more pressing issues to worry about than their deposit. BTW, RCL keeps deposits in escrow so they are available for refunds in case of bankruptcy.

[DirtyDawg]

9 minutes ago, Biker19 said:

If something bad enough happens to cause RCI to go bankrupt, folks would have way more pressing issues to worry about than their deposit. BTW, RCL keeps deposits in escrow so they are available for refunds in case of bankruptcy.

I know your Federal Maritime Commission requires them for all cruises departing U.S. ports but are those escrow accounts in place for all deposits?

[goldentrio]

33 minutes ago, firefly333 said:

Book refundable. My TA has refundable group rates or I'm not sure I'd feel comfortable. I'm already iffy on my oct 2024 and dec 2024 bookings. My mom died since I booked and now I might move by then. When I booked my plans were to stay here and help my mom. 

 

I thought I knew my future but life changed unexpectedly and having refundable deposits, I can change and move my bookings or keep them.

I'm so sorry about your mom's death. My mom has dementia and is in her 80's, so it's always a possibility in my life, too. How do you find a good TA with refundable group rates?

[Biker19]

1 minute ago, DirtyDawg said:

I know your Federal Maritime Commission requires them for all cruises departing U.S. ports but are those escrow accounts in place for all deposits?

RCL reports the deposits separately in their SEC filings, so I assume it includes all of them. I think everyone who requested deposit refunds for the bankrupt Pullmantur (was part of RCG pre-COVID) got it.

[firefly333]

4 minutes ago, goldentrio said:

I'm so sorry about your mom's death. My mom has dementia and is in her 80's, so it's always a possibility in my life, too. How do you find a good TA with refundable group rates?

Ask around on your next cruise is one way. I didn't book too far from home in case I had to fly home for a emergency but at least i could cruise. Once i move I'll be more free to venture further away. I dont even like leaving my single family home for too long right now. I'd like a safe condo i can lock the door and feel my stuff is safe. 

[goldentrio]

3 minutes ago, firefly333 said:

Ask around on your next cruise is one way. I didn't book too far from home in case I had to fly home for a emergency but at least i could cruise. Once i move I'll be more free to venture further away. I dont even like leaving my single family home for too long right now. I'd like a safe condo i can lock the door and feel my stuff is safe. 

That makes sense. I hope you find exactly what you need. Thanks for the advice!

[DirtyDawg]

47 minutes ago, Biker19 said:

RCL reports the deposits separately in their SEC filings, so I assume it includes all of them. I think everyone who requested deposit refunds for the bankrupt Pullmantur (was part of RCG pre-COVID) got it.

The deposits are initially just a liability on the balance sheet and then taken into revenue when the service is delivered. That is just an accounting convention.

 

I was thinking more of the Crystal bankruptcy. 

https://www.fmc.gov/update-notice-to-passengers-regarding-crystal-cruises/

 

I'm not sure if other country's have the same requirements as the FMC has for U.S.  departing cruises.  Interesting, I did a search on the RCL 10K and lots of mentions of "deposits" but none for "escrow". 

 

All in all, the chances of Royal going bankrupt is small (but greater than in the past) and in that event the chances of losing all your deposit is likely small. But, all I'm saying, is this  should be considered and consumers should make themselves aware of this possibility, not to just simply ignore it. And I think you are saying the same thing. 

 

Edited April 22, 2023 by DirtyDawg

[Mum2Mercury]

11 hours ago, Tlbecker1 said:

I would book it now.  If the price decreases before the final 90 day final payment, they will honor the new price.  

This is the best answer.  Book now and watch for a price drop.  Don't pay your final bill until just before the 90 day mark.  

10 hours ago, BennyandBo said:

Do you really think anything will be cheaper a year to two years from now?LOL. Think about it. 

I honestly don't know, as I think this is an odd time in cruising.  We're still recovering from the pandemic, and prices aren't behaving as they did a decade ago.  I do suspect prices will ebb and flow over a two year period, and a person who's watching carefully will be positioned to grab those price drops.  

Of course, this assumes you aren't considering booking over a holiday (and since you said March, we could be talking about Spring Break).  Holiday cruise prices will only go one direction:  up, up, up.  

2 hours ago, mugtech said:

We always book as far ahead as possible, but hold off on flights and hotel rooms until about 8 months before the cruise ...

That's smart.  Of course, those things aren't usually open two years in advance.  

1 hour ago, firefly333 said:

I thought I knew my future but life changed unexpectedly and having refundable deposits, I can change and move my bookings or keep them.

Okay, that's the downside of booking two years in advance -- yeah, you'll get the room you want, etc. -- but so much can change in that amount of time.  It's possible you'll have lost or changed a job, you could have a new child or grandchild by then, or your health could change significantly.  

 

As for whether to go refundable, you have to weigh the numbers.  An inexpensive cruise for two doesn't carry the same risk as a mid-summer cruise with multiple cabins.  

8 minutes ago, DirtyDawg said:

... All in all, the chances of Royal going bankrupt is small ...

Yes, that wouldn't concern me if I were thinking about booking far in advance.  

[LuCruise]

We book when cruises are released (i.e. 2 years out) to get the best price.   Note that we will book as refundable.  It seems these days that cruise prices have only gone up. Two of our cruises have increased by $5500 and $4100.  Pretty crazy!!!  Two others ( that are more recent bookings) have already gone up by about $600-1500 (staterooms are no longer available to using other categories to compare).  One thing to note though is that these are all school holiday bookings of March Break or Xmas/New Years so that plays a role in the high increase.  Still, if you book refundable, then nothing to lose as long as you have the funds to pay the deposit.

Edited April 22, 2023 by LuCruise