Royal Caribbean Group reports ‘record bookings’ during wave period

Royal Caribbean Group took a record number of bookings during this year’s wave period as its first quarter revenue reached $4 billion.

The group, which comprises Royal Caribbean, Celebrity Cruises and Silversea, also reported its bookings during April were higher than the same month last year with “continued strength" in late bookings.

In addition, guest spending on board and pre-cruise purchases exceeded previous years due to “greater participation at higher prices”.

Net income for the first quarter was $0.7 billion and adjusted Ebitda, a measure of profit, hit $1.4 billion.

The group hailed a first-quarter load factor of 109% while capacity was up 3% year on year.

Looking ahead, capacity is expected to increase by 6% in the second quarter due to fewer dry dock days compared to the same period last year, combined with Utopia of the Seas having sailed for a full year.

The cruise line group also upgraded its adjusted earning per share guidance for the full year from $14.55 to $15.55 due to “better than expected" first-quarter revenue performance and lower fuel costs for the rest of the year.

Royal Caribbean Group president and chief executive officer Jason Liberty said: "Bookings for 2025 have remained on track, cancellation levels are normal, and we continue to see excellent close-in demand.

“This year continues our guest experience innovation with the debut of Star of the Seas, Celebrity Xcel, and the opening of Royal Beach Club Paradise Island by year-end – all of which continue to generate consumer excitement and strengthen our competitive moat."

He added: "Our strong first quarter results are a testament to the enduring appeal and attractive value proposition of our leading brands and the incredible vacations they deliver.

"As we navigate the complexities of the current macroeconomic landscape, we remain focused on what we can control – delivering the best vacation experiences, optimising revenue, and managing costs, while continuing to invest in our future and drive further differentiation.

“With our industry-leading brands, state-of-the-art ships, exclusive destinations and a fortified balance sheet, we will continue dreaming and innovating to win a greater share of the growing $2 trillion global vacation market."

Pictured: Allure of the Seas