personalization of the service and a much higher quality. Brands such as Seabourn or Regent Seven Seas stand out. Expediti. on: although they could fall into the category of luxu- ry cruises, due to their unique characteristics they form a sepa- rate category. These cruises visit exotic places and areas that are difficult to access (such as the Arctic, for example) and usually provide smaller boats to access remote places, where adventure or research activities can be carried out. 3.2. Fleet Distribution: Seasonality and Relocations The seasonal variability of weather conditions generates a marked seasonality in the demand for cruise travel in different geograph- ical areas. Shipping lines, therefore, adjust the supply by relocat- ing their fleets throughout the year. The most classic route is the transatlantic route between Amer- ica and Europe, as these are the two main markets in terms of passenger volume and revenue. Thus, in spring, many ships go from America to the Mediterranean to start their Mediterranean routes, which last until autumn, when the repositioning begins again towards South American and Caribbean waters, where despite having the peak of ships in winter, they operate through- out the year due to its good weather conditions and the stability of demand. In summer, ships are also positioned in Northern Europe and Alaska. 3.3. Supply and Demand Structure First, on the supply side, there is a high degree of concentration, with the four largest companies accounting for 90% of the mar- ket share. These are large corporations with different brands for each segment. For these companies, with a very high immobili- 60 SPAIN-US CHAMBER MARKET REPORT