Royal Caribbean Group Shows Higher Demand Than Expected

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Royal Caribbean Group, the parent company of Royal Caribbean International, Celebrity Cruises, and Silversea Cruises, has seen higher than expected demand for cruise bookings during wave season, a trend that will please shareholders.

Overall, the company has seen the best-ever annual beginning in its history, with record-setting bookings and onboard consumer spending.

Best Bookings Period in Royal Caribbean History

Wave season is here and cruise travelers are booking voyages with Royal Caribbean International, Celebrity Cruises, and Silversea Cruises at an unprecedented rate, the best ever in the history of Royal Caribbean Group for the first five weeks of the calendar year.

Bookings are “significantly” higher than during the same period of 2023, and furthermore, all upcoming time frames are booked higher than the same periods in 2023 in both rate of overall bookings and total booking volume.

Read Also: What Is Wave Season for Cruises and When Is It?

What does this mean for travelers? Cruises are selling faster and further out, and ships are sailing fuller than ever before.

“Robust demand for our vacation experiences has significantly exceeded our initial expectations,” said Jason Liberty, president and CEO of Royal Caribbean International.

Undoubtedly, part of the stronger interest in Royal Caribbean cruises is due to the debut of Icon of the Seas, now the world’s largest cruise ship and generating amazing response among eager travelers, as well as renovations and expansions on the cruise line’s private island in the Bahamas, Perfect Day at CocoCay, including the new adults-only Hideaway Beach.

Furthermore, the upcoming Utopia of the Seas will generate additional excitement with her July debut, as will Star of the Seas, the second Icon-class ship scheduled to join the fleet in 2025.

Royal Caribbean's Icon of the Seas
Royal Caribbean’s Icon of the Seas

The just-announced, as-yet-unnamed seventh Oasis-class vessel is also engaging cruise fans, and while bookings for that ship are not yet open – she won’t set sail until 2028 – she is helping keep Royal Caribbean at the top of cruisers’ minds.

Among the group’s other cruise lines, the recent debut of Celebrity Ascent as well as the addition of Silver Nova to Silversea Cruises in August 2023 have both added new options for travelers eager for new experiences.

Shareholders Sure to Be Pleased

As a result of the phenomenal bookings – though the company has not released exact data – the 2024 investor guidance has been increased, with the Adjusted EPS (Earnings Per Share) increased by $0.40 compared to earlier guidance. Now, for all of 2024, Adjusted EPS is expected to be $9.90 to $10.10, though future adjustments may yet be made.

This adjustment clearly shows the company’s financial recovery continuing post-pandemic, with a strong outlook for future bookings.

Royal Caribbean Miami Office
Photo Credit: byvalet / Shutterstock

“We remain intensely focused on delivering a lifetime of vacations and priceless memories for our guests while delivering exceptional long-term shareholder value,” said Liberty.

Other cruise lines have likewise experienced better-than-expected wave season bookings, with more and more travelers taking advantage of the great value and phenomenal experiences that cruising offers.

For example, P&O Cruises recently announced their best-ever January booking season, and Holland America Line has just seen the biggest single-day booking record in its history.

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