A “remarkably encouraging” outlook has been forecast by cruise giant Royal Caribbean Cruises after it recorded a 55% profits rise for the peak summer period.
The parent company of brands including Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises saw net profits rise year-on-year to almost $357 million.
Quarterly revenues for the period ending September 30 rose to $2.1 billion compared to $1.8 billion in the third quarter of 2009 as a result of capacity increases and yield improvements.
While it is early in the booking cycle, 2011 yields were described as “trending positively” in all four quarters. The company expects yield increases comparable to this year.
Chairman and CEO Richard Fain said: “We continue to characterise demand for our brands as steady and solid and the strength of our third quarter results is certainly a validation of that.
“Profitability momentum moving into 2011 is also quite strong with our newest vessels performing exceptionally well and our management team controlling costs very effectively.
“The economy is still tough, but even facing such headwinds our outlook is remarkably encouraging.”
The company is due to take delivery of the world’s largest cruise ship, Allure of the Seas, on Thursday (October 28).
The 5,400-passenger vessel starts sailing on year-round round Caribbean itineraries from Port Everglades in Florida on December 1 following naming celebrations.