We were booked on recent Voyager Sydney to Hong Kong cruise but received extremely generous offer to cancel one day before we were to fly to Sydney. We took offer and heard that others had received offers even after they had arrived in Sydney. I know they prefer to have full ships but seems that it's not a good idea economically to overbook as much as they have recently.

Actually it does work for everyone.

They offer trips on ships that are not full in a better suite or for a longer cruise. If necessary cash back or a larger future cruise credit.

The ship they are bumping from is FULL and the ship that the guests bump to in the offer needed extra guests. The $$ amount paid by the bumped guest is retained and may never have come to the company if they had not oversold as they may not have booked a different cruise. It is simply now allocated to a ship where they needed that extra passenger load. Now and then it is an Future Cruise Credit and then at times a CASH offer but that is at the very end and does not happen that much as people take the bumps before it gets to that stage. Overall still a big win for Regent.

The guests only take the bump if they find it advantageous and are then happy about the situation.

It is a win win for everyone. I am surprised more cruise lines do offer the same situation.

The offer was for full refund plus a large amount of cash, equal to almost half of original cruise cost, hard not to turn that down!

That was a fantastic offer and that can happen at the very end. Congratulations!!