The third quarter saw increased Net Yields of 7.9%, driven by demand for European and Alaskan cruises, which contributed to a load factor of 111%. Total revenue was reported at $4.9 billion, while Net Income reached $1.1 billion. CEO Jason Liberty emphasized Royal Caribbean’s commitment to delivering unique vacation experiences, adding, “We see elevated demand patterns continuing into 2025.”
Strategic Expansions
Royal Caribbean has unveiled plans to expand its portfolio with Perfect Day Mexico, a private destination expected in 2027, as well as a 150-room Silversea hotel in Puerto Williams, Chile, designed to enhance Antarctic travel experiences. This expansion complements the anticipated openings of Royal Beach Club Paradise Island and Royal Beach Club Cozumel, slated for 2025 and 2026, respectively.
Key Financial Highlights
- Adjusted Net Income: $1.4 billion, up from $1.1 billion in Q3 2023.
- Revenue: $4.9 billion, boosted by increased passenger spending and onboard purchases.
- Full-Year Outlook: Expected Net Yields growth of 10.8% to 11.3% in Constant Currency.
2025 Bookings and Future Growth
Royal Caribbean Group reports strong advance bookings for 2025, which are expected to support continued yield growth. CFO Naftali Holtz highlighted operational efficiency and a robust balance sheet as factors positioning the company to capture a greater share of the global vacation market.