Royal Caribbean Hopes Cruiser Spending Splurge Will Help Reverse Losses
Photo Credit: Royal Caribbean had a strong recovery in 2022 and is optimistic for 2023. Unsplash / Stephanie Klepacki
Skift Take
Royal Caribbean seems confident it's smooth sailing now that the pandemic is over and passengers are ready to spend their savings on cruise experiences. But a potential recession could mess with all that.
Royal Caribbean Group heads into 2023 with booking demand stronger than it was in 2019, a fully operational fleet, and a passenger market ready to splurge on onboard experiences.
For the fourth quarter, total revenues per passenger cruise day were up 3.5 percent from 2019 for the same period. Revenue totaled $2.6 billion, which was higher than expectations, said Royal Caribbean Group President and CEO Jason Liberty on a quarterly earnings call on Tuesday. Still, the cruise line's net loss stood at $500.2 million.
In the fourth quarter, 60 percent of the cruise company’s guests booked some of their onboard activities in advance of their cruise. Executives expect t
