Tag Archives: Royal

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.

Royal Caribbean Unveils New Dining Experiences on Utopia

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Royal Caribbean has revealed new details on the dining lineup to be available onboard the Utopia of the Seas when the ship launches in summer 2024.

The cruise line’s first Oasis Class ship will debut with short three-night and four-night weekday getaways to The Bahamas, with each cruise visiting the company’s private island destination, Perfect Day at CocoCay.

Highlights of Utopia’s dining offerings include:

  • Royal Railway – Utopia Station: This new dining experience combines adventure, food and tech to travel – by train. The journey starts with pre-dinner drinks at the station platform where guests board the dining car for a culinary adventure, transporting them to any place and time, from America’s Wild West to remote destinations across the globe, all without leaving the ship.
  • The Spare Tire: Guests can refuel with quick bites to keep the party going at this new poolside food truck, serving pulled pork sandwiches, cheeseburger flatbread, daily rotating desserts and more.
  • Izumi and Izumi in the Park: Joining the Royal Caribbean staple in its new Central Park location is a pickup window that serves up sushi, Japanese-inspired street food and sweets. Next door is a reimagined Izumi restaurant, with a new omakase-inspired private dining experience paired with sake cocktails, more teppanyaki tables, al fresco dining and more.

In addition to these new dining experiences, the Utopia will also offer Royal Caribbean staples, including Giovanni’s Italian Kitchen & Wine Bar; The Mason Jar Southern Restaurant & Bar; Hooked Seafood; Chops Grille, and more.

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.