Royal Caribbean Group unveils Santorini beach club as it increases full-year guidance

Royal Caribbean Group has reported net income of $1.6 billion as it unveiled plans for a new private destination in Santorini in its third-quarter earnings.

The group, which comprises Royal Caribbean, Celebrity Cruises and Silversea, increased its full-year earnings per share (EPS) guidance to $15.63 due to a “better-than-expected” quarterly performance which offset “the minimal impact” from adverse weather in the fourth quarter and the unplanned extension of its temporary closure of Labadee in Haiti.

The cruise giant announced a “strategic expansion” to open the Royal Beach Club Santorini in summer 2026, which will welcome passengers from Royal Caribbean and Celebrity Cruises ships.

This destination will follow the company’s first Royal Beach Club experience, opening in the Bahamas in December, and forms plans to offer eight land-based destinations by 2028.

The group’s total revenues reached $5.1 billion and adjusted Ebitda, a measure of profit, was $2.3 billion.

Capacity during the quarter was up 2.9% year on year as the group carried 2.5 million passengers, an increase of 7% compared to last year.

Load factor for the quarter was 112% driven by the contribution of new ships with higher load factors.

Bookings were up for new ships and like-for-like hardware, with “particular acceleration” in late bookings, while 2026 bookings outpaced the same time last year.

Looking ahead, capacity in the fourth quarter is expected to increase by 10.3% compared to the same quarter in 2024, resulting from the introduction of Star of the Seas in the third quarter, Celebrity Xcel in mid-November and fewer dry-dock days.

Royal Caribbean Group president and chief executive Jason Liberty said: "We continue to see strong momentum across our business, powered by accelerated demand, growing loyalty, and guest satisfaction that is at all-time highs.

“Our commercial flywheel - combining innovative ships, distinctive destinations, and world-class brands - continues to drive sustained growth and guests’ trust in our ability to deliver the best vacation experiences responsibly.

"Looking ahead, while it’s still early in the planning process, our strong booked position gives us confidence for 2026 and beyond. With our proven formula of moderate yield growth, strong cost controls, and disciplined capital allocation, we expect 2026 earnings per share to have a $17 handle, positioning us well to achieve our 2027 Perfecta targets."

Liberty added the new Royal Beach Club Santorini reflected the group’s “vision to redefine how the world vacations”.

He said: “We are focused on building for the future through innovative ships, a growing portfolio of exclusive destinations, technology, and AI that enhance every step of the guest journey.

“Together, these investments strengthen guest loyalty and attract new travellers, positioning us to win more share of the fast-growing $2 trillion vacation market and further setting us up for robust shareholder returns well beyond the Perfecta target period."