{
 "schema": "hk.cei.card/v1",
 "entity_id": "BR06",
 "name": "Costa Cruises",
 "parent": "Carnival Corporation Ltd.",
 "peer_group": "Global contemporary",
 "primary_segment": "Contemporary ocean",
 "core_geographies": "Mediterranean / Southern Europe / South America",
 "release": "cei-2026-q4",
 "edition": "Q4 2026",
 "methodology": "v2.1",
 "grading_scale": "v2.1",
 "score": 75,
 "grade": "C-",
 "rank": 39,
 "of": 50,
 "peer_rank": 5,
 "peer_size": 5,
 "confidence": {
  "score": 85,
  "method": "counted_citations_v1",
  "counted_citations": [
   "CCL_1Q26",
   "CCL_2Q26",
   "CCL_10Q_2Q26",
   "CCL_DLC26",
   "CORP_CRUISE360_26",
   "COSTA_TPDE26",
   "BR06_PXFLEET",
   "BR06_PXRATE"
  ]
 },
 "summary": "Costa has regional familiarity and broad sourcing. The main watch: it is more exposed to European value pressure and macro softness.",
 "narrative": "Costa Cruises is Carnival's large Southern European contemporary line, built on regional familiarity and broad sourcing. Its guests are price-sensitive, which leaves it more exposed to European value pressure and macro softness. Trustpilot reviewers across three domains rate it poorly.",
 "strengths": [
  "Costa draws on regional familiarity and broad sourcing.",
  "It has a large regional footprint inside Carnival's Europe portfolio.",
  "Its Southern European contemporary product reaches price-sensitive leisure guests."
 ],
 "fragilities": [
  "Costa is more exposed to European value pressure and macro softness.",
  "Costa's results sit inside Carnival's group figures, so outside reads are less precise.",
  "Poor Trustpilot ratings across three domains show the value proposition needs sharpening."
 ],
 "what_moves_this_letter": [
  "Whether scale keeps converting into price quality, beyond occupancy alone.",
  "Whether Southern European and South American demand holds through the next planning window.",
  "Whether a smaller, refurbished fleet keeps Costa's value position clear."
 ],
 "pillars": [
  {
   "id": "demand_quality",
   "name": "Demand Quality",
   "weight_pct": 13,
   "score": 75,
   "class_median": 81.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "pricing_revenue_integrity",
   "name": "Pricing & Revenue Integrity",
   "weight_pct": 13,
   "score": 79,
   "class_median": 83.0,
   "evidence_mode": "official_observed_surface"
  },
  {
   "id": "destination_itinerary_advantage",
   "name": "Destination & Itinerary Advantage",
   "weight_pct": 13,
   "score": 80,
   "class_median": 82.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "product_experience",
   "name": "Product & Experience",
   "weight_pct": 12,
   "score": 55,
   "class_median": 80.0,
   "evidence_mode": "multi_source_primary"
  },
  {
   "id": "distribution_channel_productivity",
   "name": "Distribution & Channel Productivity",
   "weight_pct": 9,
   "score": 81,
   "class_median": 75.0,
   "evidence_mode": "official_observed_surface"
  },
  {
   "id": "ancillary_onboard_monetization",
   "name": "Ancillary & Onboard Monetization",
   "weight_pct": 9,
   "score": 79,
   "class_median": 73.0,
   "evidence_mode": "official_observed_surface"
  },
  {
   "id": "crm_loyalty_ltv",
   "name": "CRM, Loyalty & LTV",
   "weight_pct": 9,
   "score": 75,
   "class_median": 79.5,
   "evidence_mode": "official_observed_surface"
  },
  {
   "id": "commercial_execution_discipline",
   "name": "Commercial Execution Discipline",
   "weight_pct": 13,
   "score": 80,
   "class_median": 79.0,
   "evidence_mode": "official_source_snapshot"
  },
  {
   "id": "strategic_flexibility_resilience",
   "name": "Strategic Flexibility & Resilience",
   "weight_pct": 9,
   "score": 75,
   "class_median": 74.0,
   "evidence_mode": "official_source_snapshot"
  }
 ],
 "card_source_codes": [
  "CCL_AR25",
  "BR06_PXFLEET",
  "BR06_PXRATE"
 ],
 "guest_rating": {
  "source": "Cruise Critic member reviews",
  "value": 3,
  "reviews": 1768,
  "url": "https://www.cruisecritic.com/cruise/costa/reviews",
  "read_on": "2026-09-17"
 },
 "developments": [
  {
   "date": "2026-03-13",
   "headline": "Middle East 2026-27 programme cancelled; Smeralda to the Canaries",
   "detail": "Citing an uncertain Middle East outlook, Costa cancelled its 2026-27 Gulf season. Costa Smeralda moves to a new Canaries-Madeira itinerary and Costa Pacifica to the Western Mediterranean.",
   "source_id": "COSTA_ME26"
  },
  {
   "date": "2026-04-24",
   "headline": "Costa markets Costa Toscana to North American advisors at Cruise360",
   "detail": "At the Cruise360 travel-advisor conference, Costa ran a virtual-reality tour of Costa Toscana, its newest ship, from the Carnival Corporation lounge.",
   "source_id": "CORP_CRUISE360_26"
  },
  {
   "date": "2026-06-23",
   "headline": "Parent reports record Q2 net yields across the portfolio",
   "detail": "Costa's parent reported a twelfth consecutive quarter of record net yields and $9.0 billion of customer deposits. It said European booking trends, especially in the Mediterranean, were hit by Middle East volatility. The release does not break out Costa.",
   "source_id": "CCL_2Q26"
  },
  {
   "date": "2026-09-06",
   "headline": "Trustpilot rates Costa poorly across its domains",
   "detail": "A German-locale Trustpilot snapshot for costacruise.com showed 278 reviews averaging 1.7 of 5. Costa's Trustpilot presence is split across several domains, and all located profiles rate it poor. The live page read on 1 October 2026 shows 353 reviews and a TrustScore of 1.8.",
   "source_id": "COSTA_TPDE26"
  },
  {
   "date": "2026-09-08",
   "headline": "Grade revised on Q4 evidence sweep",
   "detail": "Demand Quality was lowered 5 points. Trustpilot profiles on three domains (72 to 278 reviews each) all rated Costa poor, between 1.6 and 1.9 of 5.",
   "source_id": "COSTA_TPDE26"
  },
  {
   "date": "2026-09-11",
   "headline": "Costa Fortuna leaves the fleet for Margaritaville at Sea",
   "detail": "Costa Fortuna ended its last Costa cruise on 11 September 2026 and passes to Margaritaville at Sea, which will rename it Beachcomber after a refit. Costa now operates eight ships.",
   "source_id": "COSTA_FORT26"
  },
  {
   "date": "2026-09-17",
   "headline": "Product & Experience pillar added",
   "detail": "Cruise Critic members rate the line 3 of 5 across 1,768 reviews. The fleet narrowed to eight ships when Costa Fortuna, in service since 2003, left in September 2026. This followed a five-year refurbishment programme of about EUR 200 million that ended in November 2025.",
   "source_id": "BR06_PXFLEET"
  },
  {
   "date": "2026-09-29",
   "headline": "Parent posts record Q3 and record Q3 deposits",
   "detail": "Carnival reported all-time high Q3 net income of $1.9 billion, net yields up 2.4% in constant currency and record Q3 customer deposits of $7.6 billion. It cited elevated logistics costs from Middle East disruption. The release does not break out Costa.",
   "source_id": "CCL_3Q26"
  }
 ],
 "current_sources": [
  "CCL_1Q26",
  "CCL_2Q26",
  "CCL_10Q_2Q26",
  "CCL_DLC26",
  "CORP_CRUISE360_26",
  "COSTA_TPDE26",
  "BR06_PXFLEET",
  "BR06_PXRATE",
  "CCL_3Q26",
  "COSTA_FORT26",
  "COSTA_ME26"
 ],
 "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)"
  },
  "CORP_CRUISE360_26": {
   "title": "Carnival Corporation Highlights Its World Class Cruise Lines at Cruise360",
   "date": "April 24, 2026",
   "url": "https://www.carnivalcorp.com/carnival-corporation-highlights-its-world-class-cruise-lines-at-cruise360/",
   "label": "Carnival Corporation newsroom: Cruise360 2026"
  },
  "COSTA_TPDE26": {
   "title": "Costa Cruises (costacruise.com) Trustpilot reviews (German-locale mirror)",
   "date": "search-index snapshot accessed 6 September 2026; live page read 1 October 2026 (353 reviews, TrustScore 1.8)",
   "url": "https://de.trustpilot.com/review/costacruise.com",
   "label": "Trustpilot (DE mirror): Costa Cruises reviews"
  },
  "BR06_PXFLEET": {
   "title": "Costa Cruises Reveals Fleet Will Shrink to 8 Ships in 2026",
   "date": "accessed September 2026",
   "url": "https://www.cruisehive.com/costa-cruises-reveals-fleet-will-shrink-to-8-ships-in-2026/173361",
   "label": "Costa Cruises Reveals Fleet Will Shrink to 8 Ships in 2026"
  },
  "BR06_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/costa/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"
  },
  "CCL_3Q26": {
   "title": "Carnival Corporation Outperforms Guidance, Delivering Best Ever Revenues, Net Yields and Net Income",
   "date": "September 29, 2026",
   "url": "https://www.sec.gov/Archives/edgar/data/815097/000081509726000104/a20263qearningsrelease8-k.htm",
   "label": "Carnival Corporation Q3 2026 results (8-K exhibit 99.1)"
  },
  "COSTA_FORT26": {
   "title": "Costa Fortuna Sets Sail on Final Cruise",
   "date": "September 9, 2026",
   "url": "https://cruiseindustrynews.com/cruise-news/2026/09/costa-fortuna-sets-sail-on-final-cruise/",
   "label": "Cruise Industry News: Costa Fortuna final cruise"
  },
  "COSTA_ME26": {
   "title": "Costa Cancels 2026-27 Middle East Program, Smeralda to Europe",
   "date": "March 13, 2026",
   "url": "https://cruiseindustrynews.com/cruise-news/2026/03/costa-cancels-2026-27-middle-east-program-smeralda-to-europe/",
   "label": "Cruise Industry News: Costa exits Middle East for 2026-27"
  }
 },
 "unresolved_source_ids": [],
 "card_url": "https://hawkeskwortnik.com/commercial-excellence-index/industry/#brand=BR06",
 "page": "https://hawkeskwortnik.com/readings/cei/costa-cruises",
 "data": "https://hawkeskwortnik.com/data/cei/cei-2026-q4/BR06.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."
}