Royal Caribbean Group has set a new benchmark in its history with wave season bookings soaring to unprecedented heights in the first five weeks of the year.
The parent company overseeing renowned brands such as Royal Caribbean International, Celebrity Cruises, Silversea Cruises, and joint venture Tui Cruises, has delivered an upbeat performance review, showcasing robust demand and promising guidance for 2024.
Unprecedented Booking Performance
During the wave season, bookings have surged to unparalleled levels, outpacing all previous records in the company’s history. The strong momentum has been sustained across all four quarters of 2024, demonstrating remarkable growth in both rate and volume compared to the same period last year.
Exceeding Expectations
Royal Caribbean Group has expressed overwhelming optimism about the demand and pricing environment for 2024. Bookings have exceeded initial expectations, particularly in the back half of the year, surpassing the front half by a significant margin. This surge in demand has led to the best wave booking weeks ever witnessed by the company, underscoring the resilience and appeal of its vacation experiences.
Positive Indicators for Future Growth
The group has observed encouraging trends in consumer spending for onboard purchases, with greater participation at higher price points. This phenomenon reflects the quality of the onboard experience and signals robust future demand. President and CEO Jason Liberty emphasised the company’s commitment to delivering exceptional vacation experiences while driving sustainable long-term shareholder value.
Revised Guidance and Strong Revenue Outlook
Based on the exceptional performance and promising outlook, Royal Caribbean Group has revised its full-year guidance for 2024. Adjusted earnings per share (EPS) are now anticipated to be in the range of $9.90 to $10.10, reflecting an upward revision from the previous forecast. The improved revenue outlook for the first quarter of 2024 has contributed to this positive adjustment, highlighting the company’s resilience and agility in responding to evolving market dynamics.