Skift Take
No doubt the relaxation of Covid restrictions made the jobs of cruise industry executives easier.
Outgoing Norwegian Cruise Line CEO and President Frank Del Rio took first place among the highest paid cruise CEOs, with $8.7 million in compensation in 2022. Cruise executives were evaluated largely based on how well they led their companies as their industry recovered after a rough two years of Covid with little-to-zero demand.
In the first half of the year, the Centers for Disease Control dropped its Covid-19 cruise travel warning and stopped tracking Covid outbreaks. In the second half, all the cruise companies followed suit, opening up their ships to millions of more guests.
“I think our calculation in the American market, the addressable market expanded by 35 million almost overnight and we saw that coming through our bookings,” Royal Caribbean International President and CEO Michael Bayley