Top Suite Prices Soaring

[Crcketfan]

I came across exactly this issue some while ago when booking a spring 25 cruise.It’s no mistake rather a deliberate change.I was booking a Polynesia cruise and comparing the Shadow to the Voyager.A huge price difference on large suites,above silver suite.Saw same change in silver to master suite ratio.Booked Regent.

We are on Muse in April 24 for Japan in master at reasonable price but prices for same cruise in 25 show incredible increase for top suites

[Whinenowine]

Call me jaded, but I think there is a small group of people who will pay pretty much whatever it takes to do what they want, and can afford to do so. God bless them, I just wish I was one of them! That group has become proportionately so much wealthier in the last 3 years vs 1%ers.  SS is likely trying to maximize revenues by catering to these people--those wealthy enough to pay the sky high prices but not so wealthy as to be able to charter a yacht for 2-4weeks.

[erikzen]

As someone who works in marketing with pricing responsibilities I would imagine they are using some kind of analysis on which to base their pricing. You would probably be surprised how low the coefficient of elasticity (measure of price sensitivity) is for folks in the top income bracket. I can consistently raise prices annually on average by 40% on this group with no incremental loss of customers. I won't divulge the company or product but it's a common subscription service. If I had to go by my gut, there is no way I would have the nerve to raise prices that aggressively. Ain't analytics great!?

[Whinenowine]

1 hour ago, erikzen said:

As someone who works in marketing with pricing responsibilities I would imagine they are using some kind of analysis on which to base their pricing. You would probably be surprised how low the coefficient of elasticity (measure of price sensitivity) is for folks in the top income bracket. I can consistently raise prices annually on average by 40% on this group with no incremental loss of customers. I won't divulge the company or product but it's a common subscription service. If I had to go by my gut, there is no way I would have the nerve to raise prices that aggressively. Ain't analytics great!?

Right.  SS is trying to find the new market clearing price.  And I fully expect the same thing to happen on other lines (it's already happened on X which is why I'm moving back to SS...unfortunately not in the upper suites).  Luxury hotels, business/first class airfare, upscale restaurants, etc all experiencing the same. 

[Crcketfan]

Yes Agree with the comments.Surprising Silversea is selling 2026 cruises like hotcakes in UK despite the economic crunch here.Meanwhile offloading smaller suites to consolidators like Imagine at significant discount leading to big groups who have paid lower prices on some cruises.Would expect the higher pricing to full (ish) fare passengers to cascade down the suites.Watch for Silver suites to go up. “ How much did you pay “ is going to become hot topic of discussion.

[CJANDH]

For interest, I detailed the suite pricing on Dawn for all cruises in 2024. If you are interested the file is attached. Two key points emerge:

1. The huge premiums for suites above silver are on all sailings after April 2024.

2. There are no waitlisted suites from April out. This is most unusual as the top suites are quickly snapped up normally. It seems that even the big spenders are smart enough to see that Silversea's suite pricing is no longer competitive.

Dawn Suites.xlsx

[Lirio]

2 hours ago, CJANDH said:

For interest, I detailed the suite pricing on Dawn for all cruises in 2024. If you are interested the file is attached. Two key points emerge:

1. The huge premiums for suites above silver are on all sailings after April 2024.

2. There are no waitlisted suites from April out. This is most unusual as the top suites are quickly snapped up normally. It seems that even the big spenders are smart enough to see that Silversea's suite pricing is no longer competitive.

Dawn Suites.xlsx 12.56 kB · 5 downloads

I put the result in a graph. Summer in north hemisphere seems to have the highest proportion. And in this period the destination is N. Europe, any explanation for that?

 

[bitob]

Like any other business, they will price with respect to what the market will tolerate.  If the high end suites get booked at those rates, the rates will stay the same.  If not, we might see a price reduction.  

 

We love the Silver Suite -- perfect for us.  We crave space.   Pricey but not over the top.  Part of my plan to bounce my last check.

[CJANDH]

14 hours ago, bitob said:

Like any other business, they will price with respect to what the market will tolerate.  If the high end suites get booked at those rates, the rates will stay the same.  If not, we might see a price reduction.  

 

We love the Silver Suite -- perfect for us.  We crave space.   Pricey but not over the top.  Part of my plan to bounce my last check.

I agree on the Silver Suite. It is a great layout and very competitive to the Regent equivalent. However, the higher end suites do not seem to be competitive with Regent and Seabourn equivalents and so far are not selling well.

[Stumblefoot]

On 6/15/2023 at 3:58 PM, Crcketfan said:

Yes Agree with the comments.Surprising Silversea is selling 2026 cruises like hotcakes in UK…

2026?  Has SS released their 2026 schedule other than the World Cruise voyages?

[A Tucson Guy]

1 hour ago, Stumblefoot said:

2026?  Has SS released their 2026 schedule other than the World Cruise voyages?

Nope. RSSC has released their 2025 and part of 2026 cruises. I have reserved two of them as their prices on these two cruises seem reasonable. When SS 2025 & 2026 cruises come out, I will look at them and decide if I want to keep the RSSC cruises. I do notice that RSSC does offer more interesting pre and post cruise programs than SS. I have about 65 days on RSSC and have not been on their newer ships nor since covid. I am looking forward to checking out the new RSSC product.

[CJANDH]

I have just come off Dawn where I raised the issue of the wild pricing on the top suites with both the Future Cruise Consultant and the Chief Finance officer, with whom I had dinner. Neither seemed aware of the issue. But the Finance guy was shocked by the difference between the Silver and Owners suite prices.

He said he would do his own investigation.

 

I still believe that there is a crazy pricing gremlin somewhere in HQ that is now working his/her evil ways with specialty restaurant pricing too. (See separate thread).

[Lonedaddy]

37 minutes ago, CJANDH said:

I have just come off Dawn where I raised the issue of the wild pricing on the top suites with both the Future Cruise Consultant and the Chief Finance officer, with whom I had dinner. Neither seemed aware of the issue. But the Finance guy was shocked by the difference between the Silver and Owners suite prices.

He said he would do his own investigation.

 

I still believe that there is a crazy pricing gremlin somewhere in HQ that is now working his/her evil ways with specialty restaurant pricing too. (See separate thread).

Maybe Alissa Heinerscheid found a job at SS.

[CJANDH]

3 minutes ago, Lonedaddy said:

Maybe Alissa Heinerscheid found a job at SS.

If so, she doesn't look too happy!

 

[Dolcevita Diva]

1 hour ago, CJANDH said:

I still believe that there is a crazy pricing gremlin somewhere in HQ that is now working his/her evil ways with specialty restaurant pricing too. (See separate thread).

There is - the former Chief Financial Officer is now President/CEO of the parent company. 

[conchyjoe]

I noticed the same huge increases for a 2024 New England cruise. Typically we budget at around $10,000 pp for a 10 day cruise in a Silver Suite.

Now it seems SS are quoting around $17,000 pp for a 10 day cruise (port to port).

 

 

 

 

[Stumblefoot]

3 hours ago, conchyjoe said:

Typically we budget at around $10,000 pp for a 10 day cruise in a Silver Suite.

Now it seems SS are quoting around $17,000 pp for a 10 day cruise (port to port).

SS is about to figure out what % of their passenger mix is “aspirational” rich vs. actually rich. 😁

[CJANDH]

13 hours ago, conchyjoe said:

I noticed the same huge increases for a 2024 New England cruise. Typically we budget at around $10,000 pp for a 10 day cruise in a Silver Suite.

Now it seems SS are quoting around $17,000 pp for a 10 day cruise (port to port).

 

 

 

 

The Silver Suite prices have gone up as you say. But check out the Owners and Grand Suite increases. They are now about three times the cost of the Silver Suite versus 1.5 times this year.

[highplanesdrifters]

As mentioned in another thread - On a similar trip, Seabourn top suites are less than half of Silversea. Something's gotta give.

[CJANDH]

1 hour ago, highplanesdrifters said:

As mentioned in another thread - On a similar trip, Seabourn top suites are less than half of Silversea. Something's gotta give.

Here is a comparison with Regent on similar cruises in July 2024:

 

10-day N. Europe Comparison – July 2024

Silversea Dawn: Owners $44K  Grand $41K   Royal      $37K

RSS Splendor:    Master* $27K  Grand $24K  Splendor $22K

* Master is 2-bedroom

And Regent provides Business Class air to Europe!!

The bean counters are pricing SS out of the market.

[mitz18]

4 hours ago, CJANDH said:

 

The bean counters are pricing SS out of the market.

except the ships continue to be full or nearly full......think prices are here to stay unfo,.

[Rothko1]

6 minutes ago, mitz18 said:

except the ships continue to be full or nearly full......think prices are here to stay unfo,.

 

It's all what the free market will bear.

[Whinenowine]

22 minutes ago, Rothko1 said:

 

It's all what the free market will bear.

Yup, and until/unless we hit an economic rough patch--which looks less and less likely these days--SS's clientele will remain flush with stock market gains and record high home prices. 

[CJANDH]

49 minutes ago, mitz18 said:

except the ships continue to be full or nearly full......think prices are here to stay unfo,.

Actually, if you look at the 2024/5 cruises the top suites are mainly still available. In the past they have always been the first to go "waitlist". I have had to book nearly two years in advance to get an Owners Suite. Not at $100K though!!

[carefreecruise]

A 42 day cruise, starting in 23 days and last week they reduced the price by 1/2. See new pricing, still shocking...