by Sarah Kuta
Last updated: 4:25 PM ET, Thu February 1, 2024
Royal Caribbean Group had an “exceptional year” in 2023—and expects 2024 to be just as good—as travelers continue to pick cruises over land-based vacations, according to Jason Liberty, the company’s president and CEO.
Royal Caribbean Group—the parent company of Royal Caribbean International, Celebrity Cruises and Silversea Cruises—updated investors today on its performance during the fourth quarter of last year, as well as all of 2023.
"With our industry-leading global brands combined with the most innovative fleet and destinations, we remain intensely focused on delivering a lifetime of vacations and priceless memories for our guests while delivering exceptional long-term shareholder value," Liberty said in a statement.
In 2023, the company brought in $13.9 billion in total revenue, with a net income of $1.8 billion, or $6.31 per share. It reported adjusted net income of $1.8 billion, or $6.77 per share.
And, already in 2024, sales are off to a strong start for the company. Royal Caribbean Group notched its five best booking weeks in the company’s history in recent months, with three of those record-setting weeks occurring during wave season, the period between January and March when cruise lines roll out promotions.
Much of the excitement around Royal Caribbean Group right now can be attributed to Icon of the Seas, which debuted in late January and is now the world’s largest cruise ship. The company has also gotten a positive response to its expansion of Perfect Day at CocoCay, its private island destination in the Bahamas. The company is adding a new adults-only area called Hideaway Beach.
"Demand for our brands continues to outpace broader travel as a result of consumer spend further shifting toward experiences and the exceptional value proposition of our products," Liberty said. "We have exciting new vacation experiences in 2024, including the game changing Icon of the Seas, and have entered the year in a record booked position at significantly higher prices, further positioning us for a strong 2024."
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