Saga Cruises gets lift from older holidaymakers as bookings trend ahead of 2026

Saga cruises have benefited from stronger demand among older holidaymakers, even as rivals report slower commitment from younger travellers. The over-50s specialist said bookings for next year are running well ahead of earlier periods, with a majority of berths already spoken for on its ocean cruises. In particular, 51% of berths are booked for next year's departures, and routes such as the Caribbean, the Norwegian fjords and Europe have proved popular. Customers are paying an all-inclusive average of about £437 a day for these trips.

Saga chief executive Mike Hazell said the company’s customers tend to book early, have more disposable income and are able to endure short-term economic volatility. "Our customers book very early. So we’ve already got a significant amount of next year’s holidays booked," Hazell said. "They have more disposable income and they’re more resilient to short-term economic volatility." For the six months to the end of July, Saga posted a first-half profit of £3.7m, reversing a £116.9m loss a year earlier. Revenue rose 9% to £328.2m, and net debt fell to £515.1m from £617.2m. The group also benefited from earnings in its insurance arm, and its stock rose 6.7% to 231.5p, adding to substantial gains over the past 12 months.

On The Beach, by contrast, warned profits for the year ending 30 September would come in below expectations, at between £34.5m and £35.5m, versus City forecasts of about £38.4m. Bookings over the summer were about 12% higher than last year, and winter bookings were also up about 12%. Looking ahead to summer 2026, the company warned of a "later booking trend", with customers booking increasingly closer to departure. Analysts at RBC Capital Markets noted that with the Budget looming, many customers are waiting to commit.

On The Beach chief executive Shaun Morton said the firm remains confident that winter demand will hold and that summer 2026 will build, even as near-term profits undershot expectations. Jet2 chief executive Steve Heapy has observed a similar pattern, with bookings increasingly closer to departure. Keith Bowman, an analyst at Interactive Investor, said Saga's focus on the over-50s may be helping forward bookings, and easing mortgage rates, relative to rising rents, could be aiding the older demographic.

Taken together, the results illustrate how demographic and macroeconomic factors are shaping travel demand in the British market, with Saga benefiting from a core, cash-rich customer base willing to lock in holidays well in advance while more price-sensitive segments adjust to shifting economic signals.