Royal Caribbean will begin offering a new non-refundable deposit program starting on July 1, 2017.
In North America, it has widely been the standard that cruise booking deposits are 100% refundable up until final payment dates. There have been some exceptions to this particularly when booking higher level accommodations such as suites, where cancellation penalties may occur before final payment.
Royal Caribbean’s new program, that will roll-out fleet wide, includes some key features and benefits for guests.
- Guests have the option to book a traditional or the new non-refundable fare
- Guests booking suites will only have the non-refundable deposit option available
- Non-refundable fares will be priced lower than other fares in the market
- Guests selecting non-refundable fares will incur $100 per person change fee if they change ships or sailing dates
- If guests book a non-refundable fare at least 6 months prior to departure they will receive an Early Booking Incentive as an onboard credit ranging from $25 to $100 per reservation
Royal Caribbean has stated that they are not planning on changing the current deposit amount structure, so current deposit amounts that are based on length of cruise will continue. It is also important to note that non-refundable does not mean you will lose your entire deposit if you cancel before final payment. Instead, guests will receive a refund in the form of a Future Cruise Certificate, less the $100 per person change fee.
Even with the ability to receive a portion of the deposit back as a credit, guests should make certain that this program will work for them before making a reservation. In most cases, under this program, booking and canceling a 7 night cruise before final payment for example, will result in a loss of 40% of their deposit.
Carnival Cruise Line introduced a similar program called Early-Saver a few years ago that offers a lower price point and sometimes extra perks like onboard credits, in exchange for a non-refundable deposit or fees to make any changes.
One major benefit resulting from this program should be a reduction in the number of speculative cruise bookings that are made. It is quite common for stateroom inventory to get tied-up because people feel there is nothing to lose if they cancel.
Royal Caribbean is looking for the program to provide their guests with added confidence to book early.