Brilliant Savings Strategy 4 Princess

[cruzsnooze]

This new cancellation policy will save Princess millions. If you cancel (VS them cancelling you) they don't have to offer compensation such as they previously did in the form of a 25% credit towards your next cruise.  It also does help those without insurance too so it's a win win for many people.

Edited March 7, 2020 by cruzsnooze

[CineGraphic]

And the $200 in OBC they are giving, costs them less than half of that due to mark-up.

[PhoenixCruiser]

Speechless

 

They are being more than generous with their cancellation policy, yet some can always find something to complain about.

 

Sent from my SM-N950U using Tapatalk

 

 

 

 

[cruzsnooze]

Exactly where did you see a complaint? Can't you see it's a statement?

Edited March 7, 2020 by cruzsnooze

[BballinQT24]

It’s a great savings strategy that goes to show a business can do good by themselves while also doing good by their customers. 
 

They have the right to enforce the cancellation policy in the contract we agreed to at booking, but them offering a future cruise credit so I’ll at least get something for my money instead of losing it all, makes me way more likely to return to them. Before this I was unsure. I’m very appreciative. 

[cruzsnooze]

9 hours ago, BballinQT24 said:

It’s a great savings strategy that goes to show a business can do good by themselves while also doing good by their customers. 
 

 

As a stock holder I appreciate their saving money, as a passenger with a Cruisetour to Japan I will miss that 25% off. As a human I would prefer to see this virus run it's course as quickly as possible with minimal illnesses.

[PrincessLuver]

12 hours ago, cruzsnooze said:

This new cancellation policy will save Princess millions. If you cancel (VS them cancelling you) they don't have to offer compensation such as they previously did in the form of a 25% credit towards your next cruise.  It also does help those without insurance too so it's a win win for many people.

 

I will prefer getting all of my money back.....why let Princess hold canceled cruise payments as Future Cruise Credits and if they file for bankruptcy all of that money will be lost by the passengers and they will end up with nothing....yes....it definitely is a brilliant idea by Princess.....

Edited March 7, 2020 by PrincessLuver

[cruzsnooze]

6 minutes ago, PrincessLuver said:

 

I will prefer getting all of my money back.....why let Princess hold canceled cruise payments as Future Cruise Credits and if they file for bankruptcy all of that money will be lost by the passengers and they will end up with nothing....yes....it definitely is a brilliant idea by Princess.....

Do you really think they'll file for bankruptcy? I wonder what kind of insurance they must have and what it covers, that would be revealing and reassuring. 

[PhoenixCruiser]

On 3/7/2020 at 8:47 AM, cruzsnooze said:

Do you really think they'll file for bankruptcy? I wonder what kind of insurance they must have and what it covers, that would be revealing and reassuring. 

 

Most cruise lines are self-insured.

[npcl]

On 3/7/2020 at 7:47 AM, cruzsnooze said:

Do you really think they'll file for bankruptcy? I wonder what kind of insurance they must have and what it covers, that would be revealing and reassuring. 

It does not appear that they carry any insurance that would provide any protection from loss of revenue due to a pandemic.

 

According to their last 10 K

 

They have insurance for

a.

General

 

We maintain insurance to cover a number of risks associated with owning and operating our vessels and other non-ship related risks

 

b.Protection and Indemnity (“P&I”) Coverages

 

c.

Hull and Machinery Insurance   d.War Risk Insurance   e.Other Insurance We maintain property insurance covering our shore side assets and casualty insurance covering liabilities to third parties arising from our hotel and transportation business, shore excursion operations and shore side operations   They specifically state that   We do not carry coverage related to loss of earnings or revenues from our ships or other operations

 

[cruzsnooze]

11 hours ago, npcl said:

It does not appear that they carry any insurance that would provide any protection from loss of revenue due to a pandemic.

 

According to their last 10 K

 

They have insurance for

a.

General

 

We maintain insurance to cover a number of risks associated with owning and operating our vessels and other non-ship related risks

 

b.Protection and Indemnity (“P&I”) Coverages

 

c.

Hull and Machinery Insurance   d.War Risk Insurance   e.Other Insurance We maintain property insurance covering our shore side assets and casualty insurance covering liabilities to third parties arising from our hotel and transportation business, shore excursion operations and shore side operations   They specifically state that   We do not carry coverage related to loss of earnings or revenues from our ships or other operations

 

Thanks for posting this information. Princess will suffer a big loss of revenue which is already manifesting itself in their stock prices. 

[Scotmay]

This is why I buy private travel nsurance. 

[Roger88]

On 3/7/2020 at 6:05 AM, cruzsnooze said:

This new cancellation policy will save Princess millions. If you cancel (VS them cancelling you) they don't have to offer compensation such as they previously did in the form of a 25% credit towards your next cruise.  It also does help those without insurance too so it's a win win for many people.

I dont understand. If you cancel right now you will get a 25% credit as far as I am concerned. If you cancel later or if your trip is like in September or smth you wont get any refund at all. Where did you get this information from? There was a thread about the OBC and insurance compensations. If I only knew where it is though.. If I were among those who plan to cancel, I would just call the agency first to clarify all this. Dont rush to cancel. You might lose more than you have to

[satxdiver]

Princess is a subsidiary of Carnival Corp.  Talk of Princess filing bankruptcy will not happen but Carnival Corp might.  With over 100 ships in use now, five ships (or more) will not hit them all that hard.  However all the bad press and people beginning to get concerned about going on cruises will have an effect on all cruise lines in future revenue.  Hence the CCL stock price is down ($21.78 now) as during the last severe recession of 2008.  CCL is not alone RCL is also down which was selling at $135 and today is $47.  Cruise lines sell entertainment and when times get bad, people cut out entertainment first.  

[Aus Traveller]

On 3/8/2020 at 1:40 AM, PrincessLuver said:

 

I will prefer getting all of my money back.....why let Princess hold canceled cruise payments as Future Cruise Credits and if they file for bankruptcy all of that money will be lost by the passengers and they will end up with nothing....yes....it definitely is a brilliant idea by Princess.....

I would also prefer getting my money back, but Princess could just stand by their usual cancellation penalties. We would get nothing for our 31-night 7th April cruise. I am very appreciative of the FFC.

 

I am on the phone cancelling our QANTAS flights. We can get a refund, but it costs more FF points. Also not too bad.