Royal Caribbean Sees Payoff From Expanding Its Fleet
Photo Credit: Symphony of the Seas, one of Royal Caribbean International's newest and largest ships. Royal Caribbean International / SBW-Photo
Skift Take
It looks like 2019 is setting up to be Royal Caribbean's year. The cruise company seemed almost baffled by how good its results were, with revenue increasing across the board.
New ships and swelling demand brought Royal Caribbean a record quarter, the company said.
Demand was up in nearly every market, including China, driving increases in both ticket and on-board revenue, according to an earnings release Wednesday. The company expects this trend to last throughout the rest of the year as well, with early bookings already soaring, and prices set to rise steadily. New ships and a new resort, Perfect Day at Coco Cay, opening in the next few weeks, are expected to further boost sales.
Revenue hit $2.4 billion for the quarter, compared to $2 billion a year prior, despite higher fuel costs and lingering repairs from an accident at the Grand Bahamas Shipyard in April. Its stock jumped nearly 7 percent after market open.
In particular, new ships drove roughly one-third of the company’s core revenue grow
