Tag Archives: royal caribbean cruise

Royal Caribbean Increases Financial Guidance for 2024

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Independence and Symphony of the Seas in San Juan, Puerto Rico photo credit Spacejunkie2 Flickr

Royal Caribbean Group today provided an update on demand and updated its 2024 guidance.

The company said it continues to be very encouraged about the demand and pricing environment for 2024.

Since its most recent update on its Q4 2023 earnings call, the WAVE booking season has exceeded the company’s initial expectations, with the first five weeks of the year resulting in the best WAVE booking weeks in the company’s history.

“Bookings have been significantly higher than during the same period last year, with the back half of the year up by more than the front half. For 2024, all four quarters and all key products are booked ahead of the same time last year in both rate and volume. Consumer spending for onboard purchases continue to exceed prior years driven by greater participation at higher prices, indicating quality and healthy future demand,” the company said in a statement.

“Since our last earnings call, robust demand for our vacation experiences has significantly exceeded our initial expectations,” said Jason Liberty, president and CEO of Royal Caribbean. “As a result, we are increasing our 2024 guidance on stronger revenue outlook, and we expect to achieve all Trifecta goals in 2024. Trifecta marks an important milestone as we remain intensely focused on delivering a lifetime of vacations and priceless memories for our guests while delivering exceptional long-term shareholder value.”

As a result of the strong WAVE season, the company is increasing its 2024 Adjusted EPS guidance by $0.40 compared to its February guidance. For the full year, Adjusted EPS is now expected to be $9.90 to $10.10 driven by an increase in constant currency net yield growth of approximately 100 bps compared to the February guidance. Approximately $0.15 of the full year increase in adjusted EPS is driven by an improved revenue outlook for the first quarter of 2024. The company now expects to achieve all Trifecta goals in 2024.

Nassau Cruise Port Welcomes Icon of the Seas with Performance

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Nassau Cruise Port (NCP) welcomed the Icon of The Seas on its inaugural call to Nassau on Thursday, January 18, according to a press release.

Passengers onboard Royal Caribbean’s newest ship were greeted with a Junkanoo performance by the Music Makers Junkanoo Group.

A special inaugural ceremony took place aboard the ship, attended by Mike Maura Jr., CEO and director at NCP, Deputy Prime Minister and Minister of Tourism, Investments, and Aviation Chester Cooper, President and CEO of Royal Caribbean International Michael Bayley and local dignitaries and industry executives. Maura celebrated the strength of the partnership between Royal Caribbean and Nassau Cruise Port and their commitment to strengthening the Bahamian economy further.

“Icon of the Seas is truly in a class of its own, and the Royal Caribbean team should be immensely proud of the result of this incredible seven-year endeavor,” said Maura.

 “We appreciate the confidence that Royal Caribbean continues to show in Nassau Cruise Port and in The Bahamas to deliver a superior tourism product, and we look forward to continuing to work with the Royal Caribbean team in ensuring that its guests enjoy fun, memorable experiences in Nassau.”

Deputy Prime Minister Cooper added: “This is magnificent for the Bahamas. It is a great day for Royal Caribbean but a magnificent day for Nassau Cruise Port and The Bahamas. [We are] on the verge of greatness for 2024. The numbers are expected to be significant coming from RCCL but also from the entire industry. We are looking forward to another banner year.”

The Icon of the Seas is currently sailing its maiden voyage which departed from Miami on Jan. 27. 

Royal Caribbean: Mobile Devices Driving Onboard Spending

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Serenade of the Seas leaving the Port of Vancouver photo credit Spacejunkie2 Flickr Account.

More and more guests are prebooking onboard experiences and spending money on their mobile devices on Royal Caribbean Group ships, said Jason Liberty, president and CEO.

“The outsized increase in our onboard revenue over the past couple of years has been fueled by new capabilities introduced to make it easier for guests to pre book onboard experiences. We will continue to enhance those capabilities in 2024,” said Liberty.

Approximately 70 percent of guests book at least one activity pre-cruise, he said.

“About a third of onboard purchases are now coming through the mobile app and we already have about 40 percent more pre-cruise revenue booked in 2024 as compared to 2023,” he continued.

“As a reminder, customers who purchase onboard experiences before their cruise, spend about two and a half times more than those who do not buy pre-cruise.”