{
 "schema": "hk.cei.card/v1",
 "entity_id": "BR04",
 "name": "Cunard",
 "parent": "Carnival Corporation Ltd.",
 "peer_group": "Luxury / ultra-luxury ocean",
 "primary_segment": "Premium / luxury ocean",
 "core_geographies": "Transatlantic / Europe / world cruise",
 "release": "cei-2026-q4",
 "edition": "Q4 2026",
 "methodology": "v2.1",
 "grading_scale": "v2.1",
 "score": 82,
 "grade": "B-",
 "rank": 7,
 "of": 50,
 "peer_rank": 1,
 "peer_size": 10,
 "confidence": {
  "score": 89,
  "method": "counted_citations_v1",
  "counted_citations": [
   "CCL_1Q26",
   "CCL_2Q26",
   "CCL_10Q_2Q26",
   "CCL_DLC26",
   "CUN_2028_26",
   "CUN_QV26",
   "CORP_CUK_LISBON26",
   "CUN_TPCA26",
   "BR04_PXFLEET",
   "BR04_PXAWARD",
   "BR04_PXRATE"
  ]
 },
 "summary": "Cunard has a distinctive product and a clear pricing identity. The main watch: at niche scale, itinerary and event calendars matter disproportionately.",
 "narrative": "Cunard sells heritage, long voyages and event-driven transatlantic crossings, and that distinctiveness gives it a clear pricing identity. At its niche scale, itinerary and event calendars matter disproportionately. Cunard's grade rests on 11 counted sources.",
 "strengths": [
  "Cunard's distinctiveness supports a clear pricing identity.",
  "Its heritage and event-driven transatlantic product are highly differentiated.",
  "Long-voyage positioning sets the brand apart within premium cruise."
 ],
 "fragilities": [
  "Niche scale means itinerary and event calendars matter disproportionately.",
  "Carnival's group reporting gives limited brand-level visibility into Cunard.",
  "A four-ship fleet has to keep its heritage offer distinct from specialized luxury rivals."
 ],
 "what_moves_this_letter": [
  "Whether affluent demand keeps justifying Cunard's rate power on long voyages.",
  "Whether transatlantic and world-cruise demand holds through the next planning window.",
  "Whether events like the 2028 Four Queens Celebration keep the heritage position sharp."
 ],
 "pillars": [
  {
   "id": "demand_quality",
   "name": "Demand Quality",
   "weight_pct": 13,
   "score": 93,
   "class_median": 81.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "pricing_revenue_integrity",
   "name": "Pricing & Revenue Integrity",
   "weight_pct": 13,
   "score": 88,
   "class_median": 83.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "destination_itinerary_advantage",
   "name": "Destination & Itinerary Advantage",
   "weight_pct": 13,
   "score": 87,
   "class_median": 82.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "product_experience",
   "name": "Product & Experience",
   "weight_pct": 12,
   "score": 76,
   "class_median": 80.0,
   "evidence_mode": "multi_source_primary"
  },
  {
   "id": "distribution_channel_productivity",
   "name": "Distribution & Channel Productivity",
   "weight_pct": 9,
   "score": 71,
   "class_median": 75.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "ancillary_onboard_monetization",
   "name": "Ancillary & Onboard Monetization",
   "weight_pct": 9,
   "score": 76,
   "class_median": 73.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "crm_loyalty_ltv",
   "name": "CRM, Loyalty & LTV",
   "weight_pct": 9,
   "score": 82,
   "class_median": 79.5,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "commercial_execution_discipline",
   "name": "Commercial Execution Discipline",
   "weight_pct": 13,
   "score": 81,
   "class_median": 79.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "strategic_flexibility_resilience",
   "name": "Strategic Flexibility & Resilience",
   "weight_pct": 9,
   "score": 76,
   "class_median": 74.0,
   "evidence_mode": "official_source_snapshot"
  }
 ],
 "card_source_codes": [
  "CCL_AR25",
  "BR04_PXFLEET",
  "BR04_PXAWARD",
  "BR04_PXRATE"
 ],
 "guest_rating": {
  "source": "Cruise Critic member reviews",
  "value": 3.7,
  "reviews": 3079,
  "url": "https://www.cruisecritic.com/cruise/cunard/reviews",
  "read_on": "2026-09-17"
 },
 "developments": [
  {
   "date": "2026-05-06",
   "headline": "2028 programme: 190 voyages, Four Queens Celebration in Liverpool",
   "detail": "Cunard's 2028 programme has 190 voyages to 125 ports in 36 countries from April 2028 to January 2029. All four Queens will meet in Liverpool in May 2028.",
   "source_id": "CUN_2028_26"
  },
  {
   "date": "2026-07-04",
   "headline": "Queen Mary 2 at Sail4th 250 in New York Harbour",
   "detail": "Queen Mary 2 took part in Sail4th 250, the centrepiece of the US 250th Independence Day celebrations.",
   "source_id": "CUN_SAIL250_26"
  },
  {
   "date": "2026-07-20",
   "headline": "Queen Victoria refit scheduled 17 October to 5 November 2026",
   "detail": "Queen Victoria enters dry dock at Damen Shiprepair Rotterdam from 17 October to 5 November 2026. The work covers the Grand Lobby, the Queens Room, the Grill Suites and a new Pavilion Wellness Café.",
   "source_id": "CUN_QV26"
  },
  {
   "date": "2026-09-04",
   "headline": "Trustpilot (CA) snapshot: 4.6 of 5 across 3,854 reviews",
   "detail": "Canadian Trustpilot showed 3,854 reviews (1,062 in the prior 12 months) rated 4.6 of 5. US, Austrian, Italian and French pages also showed 4.6 on smaller samples.",
   "source_id": "CUN_TPCA26"
  },
  {
   "date": "2026-09-08",
   "headline": "Grade revised on Q4 evidence sweep",
   "detail": "The Canadian Trustpilot base of 3,854 reviews at 4.6 of 5, matched by four other country pages, counted as a Tier A review aggregate. Demand Quality rose 6 points.",
   "source_id": "CUN_TPCA26"
  },
  {
   "date": "2026-09-09",
   "headline": "Queen Mary 2 to be refurbished in spring 2027, adding 31 staterooms",
   "detail": "Queen Mary 2 enters dry dock in spring 2027 for new and refreshed Grill Suites plus wellness and retail upgrades. It gains 31 staterooms, 16 of them Princess Grill Suites.",
   "source_id": "CUN_QM2REFIT26"
  },
  {
   "date": "2026-09-17",
   "headline": "Product & Experience pillar added",
   "detail": "Cruise Critic members rate the line 3.7 of 5 across 3,079 reviews. Four ships: Queen Mary 2, Queen Victoria, Queen Elizabeth and Queen Anne. Queen Anne, delivered in April 2024, was the line's first new ship since 2010. Named Best Enrichment (Ocean) in Cruise Critic's 2025 Best in Cruise Awards.",
   "source_id": "BR04_PXFLEET"
  }
 ],
 "current_sources": [
  "CCL_1Q26",
  "CCL_2Q26",
  "CCL_10Q_2Q26",
  "CCL_DLC26",
  "CUN_2028_26",
  "CUN_QV26",
  "CORP_CUK_LISBON26",
  "CUN_TPCA26",
  "BR04_PXFLEET",
  "BR04_PXAWARD",
  "BR04_PXRATE",
  "CUN_QM2REFIT26",
  "CUN_SAIL250_26"
 ],
 "sources_verified_on": "2026-10-01",
 "sources": {
  "CCL_1Q26": {
   "title": "Carnival Corporation & plc Achieves Record First Quarter Operating Results and Record Bookings; Introduces PROPEL",
   "date": "March 27, 2026",
   "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000034/a20261qearningsrelease8-k.htm",
   "label": "Carnival Corporation Q1 2026 results (8-K exhibit 99.1)"
  },
  "CCL_2Q26": {
   "title": "Carnival Corporation Delivers Record Second Quarter Revenues, Net Yields and Adjusted Net Income",
   "date": "June 23, 2026",
   "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000086/a20262qearningsrelease8-k.htm",
   "label": "Carnival Corporation Q2 2026 results (8-K exhibit 99.1)"
  },
  "CCL_10Q_2Q26": {
   "title": "Carnival Corporation Ltd. Form 10-Q for the quarter ended May 31, 2026",
   "date": "filed June 26, 2026",
   "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000096/ccl-20260531.htm",
   "label": "Carnival Corporation 10-Q, Q2 FY2026"
  },
  "CCL_DLC26": {
   "title": "Carnival Corporation & plc Completes Unification of Dual Listed Company Structure and Redomiciliation to Bermuda",
   "date": "May 7, 2026",
   "url": "https://www.sec.gov/Archives/edgar/data/815097/000110465926057200/tm2613680d1_ex99-1.htm",
   "label": "Carnival Corporation DLC unification release (8-K exhibit 99.1)"
  },
  "CUN_2028_26": {
   "title": "Cunard Unveils 190 New Voyages in 2028 including Historic Four Queens Celebration",
   "date": "May 6, 2026",
   "url": "https://www.prnewswire.com/news-releases/cunard-unveils-190-new-voyages-in-2028-including-historic-four-queens-celebration-302764227.html",
   "label": "Cunard: 2028 programme and Four Queens Celebration (PR Newswire)"
  },
  "CUN_QV26": {
   "title": "Cunard Reveals Plans for Extensive Queen Victoria Transformation",
   "date": "July 20, 2026",
   "url": "https://www.prnewswire.com/news-releases/cunard-reveals-plans-for-extensive-queen-victoria-transformation-302828769.html",
   "label": "Cunard: Queen Victoria transformation (PR Newswire)"
  },
  "CORP_CUK_LISBON26": {
   "title": "Carnival UK awarded high accolade from Port of Lisbon",
   "date": "May 11, 2026",
   "url": "https://www.carnivalcorp.com/carnival-uk-awarded-high-accolade-from-port-of-lisbon/",
   "label": "Carnival Corporation newsroom: Carnival UK and Port of Lisbon"
  },
  "CUN_TPCA26": {
   "title": "Cunard (www.cunard.com) Trustpilot reviews (Canada)",
   "date": "search-index snapshot accessed 4 September 2026 (site blocks automated re-verification)",
   "url": "https://ca.trustpilot.com/review/www.cunard.com",
   "label": "Trustpilot (CA): Cunard reviews"
  },
  "BR04_PXFLEET": {
   "title": "Cunard Line — Wikipedia",
   "date": "accessed September 2026",
   "url": "https://en.wikipedia.org/wiki/Cunard_Line",
   "label": "Cunard Line — Wikipedia"
  },
  "BR04_PXAWARD": {
   "title": "Cruise Critic Releases the 2025 'Best in Cruise Awards'",
   "date": "2025",
   "url": "https://www.prnewswire.com/news-releases/cruise-critic-releases-the-2025-best-in-cruise-awards-naming-the-best-cruises-of-the-year-302630964.html",
   "label": "Cruise Critic Releases the 2025 'Best in Cruise Awards'"
  },
  "BR04_PXRATE": {
   "title": "Cruise Critic Member Reviews",
   "date": "read 17 September 2026 (site blocks automated re-verification; read in a browser 1 October 2026)",
   "url": "https://www.cruisecritic.com/cruise/cunard/reviews",
   "label": "Cruise Critic Member Reviews"
  },
  "CCL_AR25": {
   "title": "Carnival Corporation & plc 2025 Annual Report",
   "date": "Form 10-K for the fiscal year ended 30 November 2025, filed 27 January 2026",
   "url": "https://www.carnivalcorp.com/wp-content/uploads/2025/03/Carnival-Corporation-plc-2025-Annual-Report.pdf",
   "label": "Carnival 2025 Annual Report"
  },
  "CUN_QM2REFIT26": {
   "title": "Cunard's Queen Mary 2 Will Undergo Stunning Refurbishment to Refine An Icon For a New Generation",
   "date": "Sept. 9, 2026",
   "url": "https://www.prnewswire.com/news-releases/cunards-queen-mary-2-will-undergo-stunning-refurbishment-to-refine-an-icon-for-a-new-generation-302872732.html",
   "label": "Cunard via PR Newswire: QM2 2027 refurbishment"
  },
  "CUN_SAIL250_26": {
   "title": "Cunard's Queen Mary 2 Takes Centre Stage During America's 250th Anniversary Celebration in New York Harbour",
   "date": "July 4, 2026",
   "url": "https://www.prnewswire.com/news-releases/cunards-queen-mary-2-takes-centre-stage-during-americas-250th-anniversary-celebration-in-new-york-harbour-302817957.html",
   "label": "Cunard via PR Newswire: QM2 at Sail4th 250"
  }
 },
 "unresolved_source_ids": [],
 "card_url": "https://hawkeskwortnik.com/commercial-excellence-index/industry/#brand=BR04",
 "page": "https://hawkeskwortnik.com/readings/cei/cunard",
 "data": "https://hawkeskwortnik.com/data/cei/cei-2026-q4/BR04.json",
 "method": "https://hawkeskwortnik.com/readings/method",
 "license": "CC BY-ND 4.0, attribute to Hawkes & Kwortnik with the edition",
 "note": "Copied from the data the live report card renders. Ungraded or missing values are null, never imputed."
}