Cruise Investors Smell a Fire Sale
May 29th 2013 7:00PM
Updated May 29th 2013 8:50PM
The fire aboard Royal Caribbean's Grandeur of the Seas was put out within two hours, but not before disrupting the travel plans of passengers on board and those set to board the ship this Friday. Both sailings have been nixed, and even though Royal Caribbean is doing things right by issuing refunds and discounts on future sailings, this is going to be a big hit for the cruise industry.
Royal Caribbean, NCL , and ship spa services provider Steiner Leisure all hit new 52-week highs earlier this month. Unlike Carnival -- which has been sluggish in light of several mishaps at sea since last year -- everyone seemed to view the negative instances as Carnival-specific events. Now Royal Caribbean's fire may lead folks to question booking on any cruise line in the near future.
In this video, longtime Fool contributor Rick Munarriz -- who experienced a kitchen fire aboard the QE2 and whose parents suffered a nixed Hawaiian cruise when the S.S. Independence ceased operations several years ago -- takes a look at the reputation problems that the industry may experience in light of Monday's fire.
The article Cruise Investors Smell a Fire Sale originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz owns shares of Steiner Leisure Limited. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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