Royal Caribbean Group, the umbrella organization for Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, is currently experiencing an unexpected surge in cruise reservations during the wave season, much to the delight of its investors.
This period marks the company’s most successful start to a year, with unprecedented levels of bookings and spending by guests while onboard.
Unprecedented Booking Surge for Royal Caribbean
During the wave season, the demand for bookings with Royal Caribbean International, Celebrity Cruises, and Silversea Cruises has hit an all-time high, setting a new record for the Royal Caribbean Group in the first five weeks of the year.
Compared to the same period in 2023, bookings have seen a “significant” increase, with all future dates also experiencing higher bookings than the previous year, in terms of both booking rates and volumes.
For travelers, this means cruises are being booked more quickly and further in advance, leading to more fully booked ships than ever before.
Jason Liberty, the president and CEO of Royal Caribbean International, highlighted, “The strong interest in our vacation offerings has far surpassed our initial predictions.”
The increased attraction to Royal Caribbean cruises can partly be attributed to the launch of the Icon of the Seas, the largest cruise ship in the world, which has received an overwhelmingly positive reaction. Additional attractions include upgrades and expansions at the cruise line’s private Bahamian island, Perfect Day at CocoCay, featuring the new adults-only Hideaway Beach.
Excitement is also building for the upcoming Utopia of the Seas, set to debut in July, and Star of the Seas, another Icon-class ship joining the fleet in 2025. The announcement of the yet-to-be-named seventh Oasis-class vessel has also captivated cruise enthusiasts. Though bookings for this ship, slated for a 2028 launch, have yet to begin, it keeps Royal Caribbean in the forefront of cruisers’ minds.
Newly introduced ships across the group’s brands, including Celebrity Ascent and Silversea’s Silver Nova in August 2023, offer fresh and exciting options for travelers seeking new adventures.
Positive Outlook for Shareholders
The remarkable booking numbers, though specific figures have not been disclosed, have led to an upward revision of the 2024 investor guidance, with a $0.40 increase in Adjusted Earnings Per Share (EPS). The Adjusted EPS for 2024 is now projected to be between $9.90 and $10.10, subject to future adjustments.
This revision underscores the company’s ongoing financial rebound following the pandemic, with a positive forecast for future bookings.
Liberty stated, “Our commitment remains on providing unforgettable vacations and memories for our guests while ensuring outstanding long-term value for our shareholders.”
Similar positive trends have been observed across the industry, with numerous cruise lines reporting better-than-expected wave season bookings, underscoring the great value and exceptional experiences offered by cruising. Notably, P&O Cruises has announced its best January booking period ever, and Holland America Line has celebrated the largest single-day booking record in its history.
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