Stock Markets Sink on Cruise Ship Stock Sales; Online Travel Shares Fall

Tuesday was an off day on Wall Street, as investors hit the pause button in what has been an amazing upward move for the overall stock market in recent weeks. Losses weren’t all that significant, with the Dow Jones Industrial Average (DJINDICES:^DJI) and S&P 500 (SNPINDEX:^GSPC) losing just enough to give bullish market participants the idea that indexes are setting up for another big push higher.

Today’s stock market


Percentage Change (Decline)

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Data source: Yahoo! Finance.

Yet there were some really big losers on Tuesday, and they largely came from the travel industry. In particular, cruise ship operators saw their share prices drop significantly as the hard-hit companies got even more bad news about their immediate prospects. Meanwhile, more broadly, online travel giants like Booking Holdings (NASDAQ:BKNG) and Expedia Group (NASDAQ:EXPE) didn’t fare particularly well, either. Below, we’ll look at the factors hitting these stocks in more detail.

Taking on more water

The losses in the cruise ship industry were substantial. Royal Caribbean (NYSE:RCL) saw the biggest declines, falling 13% on the day. Norwegian Cruise Line Holdings (NASDAQ:NCLH) and Carnival (NYSE:CCL) both followed suit with drops of 8% on Tuesday.

Cruise ship in a harbor with an island and beach nearby.

Image source: Getty Images.

The industry has been in trouble for a long time. At the end of September, the Centers for Disease Control and Prevention extended the no-sail order governing U.S. cruises by a month, and many believe that the regulatory agency would have preferred to move forward more aggressively with an extension all the way through the first month of 2021.

Carnival got off to a bad start on Monday by announcing it would cancel its November cruises. Royal Caribbean and Norwegian had already taken that step. That now makes it a very real possibility that the industry won’t end up having any activity at all through the end of 2020.

The latest news sinking cruise stocks came from Royal Caribbean, which decided to cancel its Australia and New Zealand cruises through the end of the year. Moreover, the company once again turned to the capital markets for money, raising $1 billion with sales of $500 million in stock and $500 million in three-year convertible debt.

Investors have been willing to keep cruise companies afloat, providing them more cash even without firm prospects for a restart. How long that will last is anyone’s guess, but shareholders have to be losing patience with the companies and their lack of certainty about what the future will hold.

Travel sites face huge uncertainty

Elsewhere in travel, Expedia and Booking Holdings were both down more than 3%. The pains in the cruise ship industry were only one factor weighing on the online travel booking sites.

Airline earnings started coming out today, and Delta Air Lines (NYSE:DAL) had a lackluster performance that included huge losses. It’s likely that the rest of the airlines will see similar issues.

To be fair, Booking and Expedia get more of their business from

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Recreation vehicle, boat sales revved up in July

With COVID keeping Canadians closer to home this summer, sales of recreational vehicles, sporting equipment and home hardware items have soared, according to Statistics Canada data released Oct. 13.

The ‘staycation’ concept advocated by the tourism sector seems to have paid off as consumers had higher than normal spending on products to be enjoyed outdoors.

Spending on recreational vehicles was up 47.3% for July compared with July 2019; sporting and leisure categories were up 29.8%.

Leading the increase in the categories were new recreational boats (up 58.2%), new motorhomes, travel trailers and truck campers (up 47.4%) and hunting, fishing and camping equipment (up 40.2%).

Canadians were spending more around the home as well. Hardware and renovation supplies were up 83.3%, major home appliances up 20.2% and small home appliances up 41.3%.

National retail sales reached $57.2 billion dollars in July, up 4.8% compared with July 2019, Statistics Canada reported.

The national agency said the increase marked the second consecutive increase in year-over-year sales for the sector, with sales reported in 12 of the 19 commodity categories monitored.

The agency said advance estimates for August provided by the Monthly Retail Trade Survey suggest unadjusted total retail sales increased by 1.7%. The agency cautioned the figure is preliminary and subject to revision.

StatsCan said Canadians’ new habit of eating at home has persisted for the fifth consecutive month with sales of food showing the largest year-over-year with an increase at 12.1%.

And, food and beverage sales accounted for just over one-quarter (25.9%) of all retail receipts in July, up from 24.1% in July 2019. But, while those sales continue to represent a larger than average market share, that share declined considerably from the record high seen in April (38.0%).

The product sector’s largest gains were seen in:
• fresh fruit and vegetables (+14.5%);
• fresh meat and poultry (+14.7%); and
• eggs and dairy products (+14.4%).

Beverage sales were up 14.8%, led by alcohol, up 14.3% from a year earlier.

But, as people stayed home, sales of automotive and household fuels represented the sector’s largest decline, down 22.4%.

The agency said the decline was primarily due to automotive fuels, with sales at the pump down $1.1 billion on a year-over-year basis.

And, while some consumer spending has begun a rebound, motor vehicle sales continued to lag in July, down 1.3% from a year prior.

It was new vehicle sales holding back the category, with sales decreasing 4.9%. This was the fifth straight month of negative growth in this category.

Consumers continued to look for deals in the used car market, which saw its second consecutive month of positive growth, up 13.1% in June and 4.6% in July.

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The Vacation Sales Cold Call Script

If you have been hunting around for a cold call script, take a look at this one. The destination vacation is a big money operation. People who make 1,000 calls per week generally find 100 interested prospects that turn into 50 paid customers using scripts like this one. Everyone tweaks a word here and there in scripts and this one is no different. Sit with your sales manager for approval on the wording and then try this script out on your next 100 calls and see if it makes a difference.

“Hello, is __________ there?

Hello, my name is _________, calling from _______________ How are you today? (Customer’s first name)

I see that you filled out a survey form and expressed interest in a Hawaii vacation.

Our company has just released our VIP Invitations for vacations to Hawaii and your name is on that list!

I am calling to make sure you want to take advantage of this discounted Hawaii vacation offer. Mr/Ms_______________________what do you think?

If you have pen and paper,I’ll give you all my information so you can start planning.

Again, my name is ________ and this is through _____________________________.

This Hawaii vacation package is for 4 days and 3 nights on Maui. Your airline will be _____________________________. You will be staying at the Hotel __________________ for 4 days and 3 nights. If you need other airline arrangements we are a full service travel agency and we would be happy to search for another airline fare.

I know that we do not pay your personal expenses or any taxes and no service fees are paid. The last time I went, I believe I paid not more than $25.00 and I paid that at the hotel check-in.

I only have 11 vacation packages to Hawaii and I do have other calls to make to lucky people. Are you ready to buy this great vacation today?

The cost is $698.00 for two adults and must be taken within 6 months from today. As long as both of you are over 21 years of age, you are on your way to sunny Hawaii!

Do you have your credit card ready or do you need to discuss this with someone before you buy?

I’m only offering this one package today so you would need to buy today, but then again, take up to 6 months before you run off for a fabulous vacation!

Oh no, Ma’am, there are no hidden fees or charges. But now that you mention it, there is one thing that I would ask you to do. Once you get home, would you drop me a line and tell me what was the most exciting, the most beautiful or the most fun about this Hawaii vacation?

Yes, you can enclose a snap shot if you would like.

If you are ready to buy right now, I’m ready to take your credit card and get you all set up.

Yes, Ma’am, please read the numbers on your card.

I’ll read …

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The word hotel originated from the French phrase hotel, derived from the word hote – that means host. My husband and I stayed at this property, and liked every thing about it. It was within the perfect location in South Beach. You must shield your self by realizing the chain of hotels you choose to stick with, and the way protected they’re prepared to maintain you.

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The hotel is in an excellent location for native restaurants, additionally near the main South Seashore space, in addition to Wynwood. In case you are staying at The Taynuilt Hotel, you may wish to get pleasure from your night meal within the lounge, earlier than visiting the general public bar to meet the friendly local people of Taynuilt.

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What Is A Smerfe Gross sales Supervisor?

Some of the essential departments of any hotel staff is human assets administration. My girlfriends and I’ve been doing yearly trips to South Seashore since 2006 and we now have stayed at every 5 star property and loved staying at different hotels, till 1 Hotel opened. Are you staying with your loved ones, e book a hotel that serves one of the best food at best price.

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