Ultra-Luxury Newbuilds Now Take a Fifth of the Cruise Orderbook

The ultra-luxury end of cruising, the all-suite segment with butler and concierge service, has become one of the fastest-growing parts of the market, and a further round of competition is pushing standards and fares higher. Both new entrants and established lines are reworking their offerings.

The segment has existed for decades, but the lines that led it in the 1980s and 1990s have fallen away and the ships once considered luxurious have been eclipsed. The standard is now all-suite tonnage with multiple gourmet dining venues and high levels of personalised service, and the ships that were 30,000 gross tons now range between 50,000 and 70,000.

That success has attracted capital. Royal Caribbean Group has paid more than $1.2 billion, beginning with the first tranche in 2018 that gave it Silversea Cruises, and has since invested in two 54,500 gross ton ships for the brand plus a new vessel for the Galapagos. MSC Group is halfway through an investment of more than 3.5 billion euros to build six ultra-luxury ships for its Explora Journeys brand. The luxury hotel brands Ritz-Carlton and Four Seasons have entered the segment, Aman is due to introduce its yacht cruise ship in 2027, Scenic Group has moved into ocean and expedition cruising with yacht-inspired ships and is building more, and Swan Hellenic was relaunched with three luxury expedition vessels.

Twenty percent of cruise ships currently on order by number are for the ultra-luxury segment. Over the next decade at least 16 additional ultra-luxury ships will be introduced, representing nearly one million gross tons but only around 10,000 berths, a ratio that sets the segment apart from the volume brands.

Existing tonnage is being reworked to keep pace. Regent Seven Seas Cruises is upgrading its Explorer class ships through dry dockings in 2027 and 2028, cutting suites from 373 to 344 per ship while enlarging entry-level accommodation from 307 square feet to between 415 and 464, and adding suites of 722 and 918 square feet. The line has four 77,000 ton Prestige class vessels on order, the first delivering in December.

Crystal Cruises has invested $170 million renovating its existing ships and ordered a third, the 62,000 ton Crystal Grace, which launches in June 2028 with all-veranda suites and what the line describes as one of the highest crew-to-guest ratios in the segment. Explora Journeys unveiled Explora III in August as the most spacious ship in its fleet, with Explora IV and Explora V to follow in 2027 and Explora VI in 2028. Four Seasons has cut suite counts on its upcoming vessels from 95 to 79, introducing Yacht Residential Suites aimed at extended stays and multi-generational travel.

The direction of travel across the newbuilding programmes is fewer, larger cabins per hull, which holds berth counts down even as tonnage rises.