Royal Caribbean International is now an Official Partner of the Eurovision Song Contest for 2024 and 2025, according to a press release.
Sponsoring the world’s largest live music event, Royal Caribbean will bring to life a variety of experiences, including brand exposure throughout the event, host-city promotion and more.
The new partnership will debut ahead of the upcoming 68th Eurovision Song Contest to be held in Malmö, Sweden, in May 2024, and broadcast in the 37 participating countries with millions of viewers online. This will also mark the start of Royal Caribbean’s European season with six ships sailing from eight cities across the continent.
Ben Bouldin, vice president of Europe, Middle East and Africa, Royal Caribbean International, said: “As two world-renowned brands that are known for delivering memorable moments to millions across the globe, the combination of Royal Caribbean International and Eurovision Song Contest makes the ultimate partnership that will bring to life the very best of world-class live entertainment and a fusion of cultures from all over. With more than 60 historic years of the Eurovision Song Contest, we’re proud to partner with an iconic brand that has a global audience, which only continues to grow with the popularity of an event that has become a cultural moment for so many around the world.”
Martin Österdahl, executive supervisor for the Eurovision Song Contest said: “We’re thrilled to announce our exciting new partnership with Royal Caribbean International. The Eurovision Song Contest and Royal Caribbean share a passion for creating unforgettable experiences that unite people from all around the world. We look forward to making new memories for our fans and guests alike and can’t wait to set sail together on this new adventure!”
Details on how to get tickets for the 68th annual Eurovision Song Contest with Royal Caribbean will be revealed in the coming months.
After more than seven years of dreaming and 900 days of design and construction by thousands of experts, Royal Caribbean International welcomed the Icon of the Seas during a handover at Meyer Turku shipyard in Turku, Finland.
Representatives signed on the dotted line just two months before the new ship’s January 2024 debut in Miami.
Marking the milestone at the celebration were more than 1,200 crew members and workers, who were joined by Royal Caribbean Group President and CEO Jason Liberty, Royal Caribbean International President and CEO Michael Bayley and Meyer Turku CEO Tim Meyer.
“Today, we are celebrating more than a new ship; it’s also the celebration of the culmination of more than 50 years of innovation and dreaming at Royal Caribbean to create the ultimate vacation experience,” said Jason Liberty, president and CEO, Royal Caribbean Group. “Delivering Icon of the Seas represents all that can be accomplished with strong partnerships and a commitment to delivering memorable vacations responsibly, and we thank Meyer Turku and an incredible village of skilled partners for joining us on this journey. The memories millions of families and vacationers will make on Icon will be our greatest accomplishment yet.”
“Welcoming Icon of the Seas to the Royal Caribbean family is a remarkable accomplishment years in the making for thousands of innovators, engineers, architects and designers,” said Michael Bayley, president and CEO, Royal Caribbean International. “Seven years ago, we had an ambitious idea to create the first vacation truly made for every type of family and adventurer; now, it’s in our hands, and in this final stretch, we’ll bring it all to life for the biggest debut in our history in January 2024.”
Tim Meyer, CEO of Meyer Turku, commented on the handover of Icon of the Seas as a significant moment in the shipyard’s history: “Icon of the Seas is the world’s largest, but above all, the world’s most advanced cruise ship. Together with Royal Caribbean, we set the bar exceptionally high in terms of design, technology, safety and reducing energy consumption.
Royal Caribbean Group today reported third quarter Earnings per Share of $3.65 and Adjusted EPS of $3.85 for the third quarter of 2023.
These results were better than the company’s guidance due to stronger close-in demand and further strength in onboard revenue, the company said in a press release.
The company is also increasing its full year 2023 Adjusted EPS guidance to $6.58 – $6.63, driven by strong demand and continued strength in onboard revenue.
“The strength of our brands and the acceleration of consumer spending on experiences have propelled us towards another outstanding quarter and a robust 2023,” said Jason Liberty, president and CEO, Royal Caribbean Group. “Looking ahead, we see accelerating demand as we build the business for 2024. Our booked load factors are higher than all prior years and at higher rates, further supporting our trajectory towards the Trifecta goals,” added Liberty. “The combination of our leading brands, the best people, and the most innovative fleet and destinations, positions us exceptionally well to deliver on a lifetime of vacation experiences while creating long-term shareholder value.”
Third Quarter 2023 Results:
Gross Margin Yields increased 19.1% As-Reported, and Net Yields increased 16.7% in Constant-Currency (16.9% As-Reported), both compared to the third quarter of 2019.
Gross Cruise Costs per Available Passenger Cruise Day (“APCD”) increased 14.4% As-Reported, and Net Cruise Costs (“NCC”), excluding Fuel, per APCD increased 10.3% in Constant-Currency (10.1% As-Reported), both compared to the third quarter of 2019.
Total revenues were $4.2 billion, Net Income was $1.0 billion or $3.65 per share, Adjusted Net Income was $1.1 billion or $3.85 per share, Adjusted EBITDA was $1.7 billion.
Full Year 2023 Outlook:
Net Yields are expected to increase 12.9% to 13.4% in Constant-Currency (12.4% to 12.9% As-Reported), compared to 2019.
NCC, excluding Fuel, per APCD is expected to be up 7.0% to 7.5% in Constant-Currency (6.5% to 7.0% As-Reported), compared to 2019, and includes approximately 30 basis points impact due primarily to reduced APCDs on cancelled Israel and related sailings.
Fuel pricing and foreign exchange rates are negatively impacting EPS by $0.18, compared to prior guidance. In addition, impacted sailings related to Israel deployment is expected to impact the year by approximately $0.03.
Adjusted EPS is expected to be in the range of $6.58 to $6.63 per share.
Third Quarter 2023
The company reported Net Income for the third quarter of $1.0 billion or $3.65 per share compared to Net Income of $33.0 million or $0.13 per share for the same period in the prior year. The company also reported Adjusted Net Income of $1.1 billion or $3.85 per share for the third quarter compared to Adjusted Net Income of $65.8 million or $0.26 per share for the same period in the prior year.
Gross Margin Yields increased 19.1% As-Reported, and Net Yields increased 16.7% in Constant-Currency (16.9% As-Reported) when compared to the third quarter of 2019. Third quarter revenue across North America and Europe itineraries exceeded expectations due to better close-in demand that translated into higher load factors and pricing, as well as continued strength in onboard revenue. Load factor for the third quarter was 110%.
Gross Cruise Costs per APCD increased 14.4% As-Reported, compared to 2019. NCC, excluding Fuel, per APCD increased 10.1% As-Reported and 10.3% in Constant-Currency, compared to 2019. Lower operating expenses, as well as favorable timing, contributed to better-than-expected costs.
Revenue Environment and 2024 Outlook
Bookings remained strong throughout the third quarter, significantly exceeding 2019 levels. Closer-in demand for 2023 sailings exceeded expectations, contributing to higher load factors at higher prices and higher onboard revenue for the third quarter. Consumer spending onboard, as well as pre-cruise purchases, continue to significantly exceed 2019 levels driven by greater participation at higher prices. As of September 30, 2023, the Group’s customer deposit balance was at $5.0 billion.
Demand for 2024 has continued to accelerate, with bookings significantly and consistently outpacing 2019 levels. Booked load factors and rates are higher than all prior years while the booking window has continued to extend. The market response to the company’s new ships, existing hardware, and the expansion of Perfect Day at CocoCay, and Hideaway Beach, has been excellent and further positions the company for strong yield and earnings growth in 2024.
Fourth Quarter 2023
Net Yields are expected to be up 16.2% to 16.7% in Constant-Currency and 15.0% to 15.5% As-Reported, both compared to the fourth quarter of 2019. Continued strong demand for the company’s vacation experiences and strength in onboard revenue contributes to increased yield expectations for the fourth quarter.
NCC, excluding Fuel, per APCD for the quarter are expected to increase 3.9% to 4.4% in Constant-Currency and 3.3% to 3.8% As-Reported, both compared to the fourth quarter of 2019.
Fuel pricing and foreign exchange rates are negatively impacting EPS by $0.15, versus previous expectations. Impacted sailings related to Israel deployment are negatively impacting the quarter by approximately $0.03.
Based on current fuel pricing, interest and currency exchange rates and the factors detailed above, the company expects fourth quarter Adjusted EPS to be $1.05 to $1.10 per share.
“The performance of our business continues to accelerate, driven by strong demand and excellent operational execution,” said Naftali Holtz, chief financial officer at Royal Caribbean Group. “Our formula of moderate yield growth, strong cost discipline, and moderate growth of our fleet delivers a strong financial profile and enhanced margins.”
Wetravel2u's Weblog 