An acceleration of on board consumer spending and an influx of new customers has driven Royal Caribbean Group (RCG) to an “outstanding” third quarter.

In a recent trading update covering the three months to 30 September 2023, the company netted $1 billion compared with $33 million for the same period in 2022.

RCG said third quarter revenue across North America and Europe itineraries “exceeded expectations” due to better close-in demand, which led to higher load factors and pricing, as well as continued strength in on board revenue.

Bookings remained strong throughout the third quarter for the brand, which it said “significantly” exceeded 2019 levels.

Consumer spending on board, as well as pre-cruise purchases, also continued to “significantly” exceed RCG’s 2019 levels driven by greater participation at higher prices.

Royal Group sees 2024 demand continue to accelerate

Looking ahead, the organisation has seen demand for 2024 continue to accelerate, with bookings “significantly and consistently” outpacing 2019 levels.

“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 president and CEO of RCG Jason Liberty.

“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.”

It comes ahead of the launch of Royal Caribbean’s Icon of the Seas in January 2024.