It's a Trip: This Week in the Travel Industry

On the first episode of's "It's a Trip," Simon Hobbs speaks with the CEO of Norwegian Cruise Line, Kevin Sheehan about the most exclusive areas of the company's newest ship, the Norwegian Breakaway.

From one of the ship's most exclusive areas, Sheehan gave his perspective on expansion within the cruise industry and how his company is trying to provide for consumers throughout their experience. "We've got these great new ships that are built for the future. That's what the future consumer is going to want to have, that freedom and flexibility," he said.

Elsewhere in the travel industry, airline passengers say they are more satisfied with the service they get from U.S. carriers than any time in the last seven years, according to JD Power and Associates. In fact, one reason for this shift has been the consolidation within the industry.

"Profitability in the industry is critical for making a better experience," said Stuart Grief, VP of diversified industries at JD Power. "Even though a consolidated industry may mean that it's tough as a frequent flier to get as many upgrades as you used to, ... overall, a profitable industry enables them to invest in things that make the time more efficient and enjoyable."

For hotel rooms, rising demand and short supply this summer are likely to lead to higher rates, according to research firm STR Global.

"We're suggesting that room rates are going to increase around 4.5 percent or so," said Jan Freitag, VP of global development at STR. "But, that's just the average for the nation. If you're looking at New York, San Francisco, New Orleans, you're going to see room rate increases that are probably a lot higher than that."

— By CNBC's Paul Toscano. Follow him on Twitter and get the latest stories from "Squawk on the Street" @ToscanoPaul