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Royal Group maintains record booked position following best-ever wave period

Royal Caribbean Group CEO and president Jason Liberty

Royal Caribbean Group has continued to operate in a record booked position following its strongest-ever wave period

In a recent trading update covering the three months to 31 March 2024, the company saw rates for 2024 sailings even further ahead of 2023 than they were at the beginning of the year.

In addition to record ticket pricing, consumer spending onboard and pre-cruise purchases continue to exceed the line’s prior years driven by greater participation at higher prices.

“Our existing fleet along with our new ships continue to perform exceptionally well, highlighted by the market response to the launch of Icon of the Seas, which has exceeded all expectations,” said president and CEO Jason Liberty.

“The momentum continues with Utopia of the Seas and Silver Ray, set to launch this summer. And, just this quarter alone, we announced an order for a seventh Oasis class ship and the expansion of our Royal Beach Club portfolio in Cozumel; and we officially broke ground on Royal Beach Club Paradise Island.”

Royal Caribbean Group increases earnings guidance after ‘exceptional’ wave

As a result of an “exceptional” wave season and continued strength in demand, the company is increasing 2024 adjusted earnings guidance to $10.70 – $10.90 per share.

The company’s load factors in the first quarter were 107%, with total revenues reaching $3.7 billion and net income hitting $360 million.

“Building on this momentum, we expect to achieve all our trifecta financial goals in 2024, which allows us to focus on a new era of growth to drive long-term shareholder returns and take a greater share of the rapidly growing $1.9 trillion global vacation market,” added Liberty.

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