More specifically, Regent's revenue was up over 15% to a new record, its passenger count was up 4.7%, but its profits plummeted to a mere $400,000. To keep that in perspective, there was $119,900,000 in revenue so something is amiss.
To me it is a mindboggling disappearance of profits when a 15% increase in revenue is shown. And, to be sure, to this skeptic, I have a sense of where there is smoke there is fire.
- Were/are costs being deferred with creative accounting to make things look better than they really are (and it is catching up ala Renaissance Cruises)?
- Are costs associated with Oceania Cruises (which is struggling to fill its ships and just had two new ships built) being pushed onto Regent now that the they have combined back-offices?
- Is the high cost of "free", "free", "free" everything catching up with it?
But to me the thing that I honestly cannot understand is how Regent continues to fill its ships while the reviews continue to roll in with great inconsistency and every time I comparatively price a Regent cruise versus a Seabourn or Silversea cruise it comes out to be more expensive.
From a business stand point I would consider Regent Seven Seas a "sell", but from a travel advisor's perspective I would consider it a "buy with caution".
Don't agree with me or want to see for yourself, call me at (877) 2GO-LUXURY or email me at firstname.lastname@example.org . I would love to chat about it.