{
 "name": "Cruise Distribution Index",
 "edition": "Q4 2026",
 "release": "cei-2026-q4",
 "methodology": "v2.0",
 "scale": "scores 60–100 against full potential; A+ 98–100, A 95–97, A- 92–94, B+ 89–91, B 86–88, B- 83–85, C+ 80–82, C 77–79, C- 74–76, D+ 71–73, D 68–70, D- 65–67, F below 65; * = provisional, carries a range; 'not graded' = under 60% coverage",
 "method": "https://hawkeskwortnik.com/readings/method",
 "page": "https://hawkeskwortnik.com/readings/distribution",
 "license": "CC BY-ND 4.0, attribute to Hawkes & Kwortnik with the edition",
 "count": 14,
 "rows": [
  {
   "rank": "1",
   "distributor": "ROL Cruise",
   "owner": "Employee Ownership Trust holds 51% (since Nov 2024) · United Kingdom",
   "peer_group": "Online & contact-centre sellers",
   "score": "84",
   "grade": "B-",
   "coverage": "81%",
   "confidence": "80",
   "fragility": "moderate",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX08"
  },
  {
   "rank": "2",
   "distributor": "Kreuzfahrtberater",
   "owner": "Kreuzfahrtberater GmbH, Ahrensburg · Germany",
   "peer_group": "Online & contact-centre sellers",
   "score": "83",
   "grade": "B-",
   "coverage": "81%",
   "confidence": "88",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX11"
  },
  {
   "rank": "3",
   "distributor": "e-hoi",
   "owner": "Trip.com Group holds a majority stake; the deal closed 4 Sep 2026 · Germany",
   "peer_group": "Online & contact-centre sellers",
   "score": "80",
   "grade": "C+*",
   "coverage": "69%",
   "confidence": "88",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX09"
  },
  {
   "rank": "4",
   "distributor": "Flight Centre Travel Group (Australia & New Zealand leisure: Cruiseabout, Flight Centre, Travel Associates)",
   "owner": "Flight Centre Travel Group Ltd (ASX: FLT) · Australia & New Zealand",
   "peer_group": "Retail & membership chains",
   "score": "80",
   "grade": "C+*",
   "coverage": "68%",
   "confidence": "90",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX14"
  },
  {
   "rank": "5",
   "distributor": "Iglu (Iglu Cruise, Planet Cruise)",
   "owner": "Flight Centre Travel Group (ASX: FLT), completed ~11 Dec 2025 · United Kingdom",
   "peer_group": "Online & contact-centre sellers",
   "score": "78",
   "grade": "C*",
   "coverage": "61%",
   "confidence": "79",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX06"
  },
  {
   "rank": "—",
   "distributor": "Berge & Meer",
   "owner": "Not verified in this pass · Germany",
   "peer_group": "Online & contact-centre sellers",
   "score": "not graded",
   "grade": "",
   "coverage": "57%",
   "confidence": "78",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX13"
  },
  {
   "rank": "—",
   "distributor": "Cruise Brothers",
   "owner": "Privately held (Steven Gelfuso) · United States",
   "peer_group": "Host & franchise networks",
   "score": "not graded",
   "grade": "",
   "coverage": "38%",
   "confidence": "78",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX04"
  },
  {
   "rank": "—",
   "distributor": "Cruise Planners",
   "owner": "Cruise Planners Holdings · United States",
   "peer_group": "Host & franchise networks",
   "score": "not graded",
   "grade": "",
   "coverage": "53%",
   "confidence": "76",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX01"
  },
  {
   "rank": "—",
   "distributor": "Dreamlines",
   "owner": "Unverified; HV Capital among listed shareholders · Germany",
   "peer_group": "Online & contact-centre sellers",
   "score": "not graded",
   "grade": "",
   "coverage": "57%",
   "confidence": "76",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX12"
  },
  {
   "rank": "—",
   "distributor": "Expedia Cruises",
   "owner": "Expedia Group · United States & Canada",
   "peer_group": "Host & franchise networks",
   "score": "not graded",
   "grade": "",
   "coverage": "55%",
   "confidence": "71",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX03"
  },
  {
   "rank": "—",
   "distributor": "Seereisedienst (Elbflorenz Reisedienst)",
   "owner": "Family-owned per its imprint · Germany",
   "peer_group": "Online & contact-centre sellers",
   "score": "not graded",
   "grade": "",
   "coverage": "53%",
   "confidence": "82",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX10"
  },
  {
   "rank": "—",
   "distributor": "Vacations To Go",
   "owner": "Vacation Publications (wholly owned subsidiary, per Travel Weekly) · United States",
   "peer_group": "Online & contact-centre sellers",
   "score": "not graded",
   "grade": "",
   "coverage": "56%",
   "confidence": "74",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX05"
  },
  {
   "rank": "—",
   "distributor": "Victoria Travel Group (Cruise.co.uk, Seascanner)",
   "owner": "Hays Travel (acquired from Bridgepoint, announced 29 Jul 2025) · United Kingdom",
   "peer_group": "Online & contact-centre sellers",
   "score": "not graded",
   "grade": "",
   "coverage": "53%",
   "confidence": "87",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX07"
  },
  {
   "rank": "—",
   "distributor": "World Travel Holdings (Dream Vacations, CruiseOne and contact-centre brands)",
   "owner": "Privately held; Citation Capital strategic investment May 2026 · United States",
   "peer_group": "Host & franchise networks",
   "score": "not graded",
   "grade": "",
   "coverage": "42%",
   "confidence": "80",
   "fragility": "high",
   "card_url": "https://hawkeskwortnik.com/cruise-distribution-index/#card=DX02"
  }
 ]
}