Typically, when itineraries are first posted the cruise lines will list what they believe are the best prices. In some cases, they will indeed be the best prices. However, the last thing a cruise line wants are empty cabins so due to supply and demand prices on individual cruises will fluctuate. Booking early gives you the upper hand when it comes to finding a cruise bargain, it gives you time. This extra time allows you to take advantage of the fluctuations in the price of your cruise. Booking early extends the amount of time you have to bargain before final payment is due, allowing you to play the cruise market.
What do you mean by final payment?
Final payment is the date when your cruise must be paid in full. Usually final payment is due about 60 days before sailing. Note: sometimes a travel agent will have a final payment date earlier than the cruise lines (7-10days) to accommodate those paying by check.
The final payment date is always the same amount of time before the cruise no matter when you book. For example if your cruise is leaving October 1st final payment will be the same whether you book January 1st or September 1st the difference is those who booked January 1st will have several months to search for bargains before final payment is do. Those who booked September 1 will have to pay the entire amount at the time of booking. Don’t underestimate what those months can mean when it comes to saving.
How to take advantage of momentary downturns in the cruise market:
Cruise ship prices are all about effective inventory management. What I mean is the cruise line has an idea of how fast a cruise ship fills up. When the ship bookings experience a downturn, prices will be lowered. If sales for a certain cruise ship exceed expectations, prices may rise. The purpose of these corrections is to maintain cruise-booking equilibrium. These price adjustments happen both frequently and constantly. In fact, it is perfectly normal for cruise ship prices to change several times a day. The problem is your cruise line or TA probably won’t tell you about them. However, if you take it upon yourself to monitor price of your cruise, booking several months in advance means you won’t need to worry that the person sitting across from you at dinner got the same cruise for half of what you paid.
The price you book is the maximum you will pay. If you notice a drop in price all you have to do is call the TA or cruise line and you to will receive the price drop. Cruise lines are forced to honor the price or else people would just cancel and rebook before final payment, which would create chaos. While it used to be possible to get adjustments in the form of OBCs (on board credits) after final payment, those days are long gone. Final payment is when most (if not all) cruise lines stop granting price adjustments. Note: if you booked an inside cabin and find out that balconies are now going for the same price if you call the cruise line or travel agent and explain the situation it is still possible to get upgraded to the better room.
So, as you can see even though cruise lines set the opening price at what they believe will be the lowest price, passengers ultimately determine the price point. Even though booking early does give you a great price on a cruise, ship happens and sometimes prices will fall. Planning ahead gives you the best chance to go on your dream cruise for the cheapest possible price.
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