by Donald Wood
Last updated: 4:10 PM ET, Fri July 26, 2019
During a conference call with investors, Royal Caribbean shared the continued success of Perfect Day at CocoCay and the impact of the closure of Cuba on the cruise line.
One of the biggest takeaways from the call was Royal Caribbean's satisfaction with the improvements at Perfect Day at CocoCay. Company officials said the private island resort sets the bar for the short-cruise market, but it was never designed to steal customers from other cruise lines.
Royal Caribbean CEO Richard D. Fain said Perfect Day at CocoCay "was designed to attract customers who otherwise wouldn't be taking a cruise." He added the island paradise was "doing that beautifully."
In addition to positive reviews from guests, Perfect Day at CocoCay is also helping Royal Caribbean's financial bottom line. The cruise line's chief financial Officer Jason Liberty said pricing on sailings to the island have been "consistently outpacing our lofty expectations."
Liberty said Perfect Day at CocoCay has been a "major contributor to our improved, non-Cuba revenue outlook."
"I think today we've taken maybe 350,000 people to Perfect Day since we opened," Royal Caribbean's Michael Bayley said. "It's now rated the number one resort globally for Royal Caribbean, and it's knocking it out of the park in terms of truly delivering a phenomenal day. The guest satisfaction is extremely high."
As for the U.S. government's decision to ban cruise ships from docking in Cuba, Liberty said the decision was "financially and operationally painful," but Royal Caribbean both "outperformed on onboard revenue and saw further close-in demand for our core products."
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