cruise, popular, Royal Caribbean, results, profit, revenue, 2017, staff, bonus, Azamara, Celebrity

Cruise popularity gives RCCL record profit

Royal Caribbean Cruises posts record profit, and expects another one this year.

Royal Caribbean Cruises is expecting another year of record profit in 2018 with its ‘critical wave period’ for bookings ahead of last year.

The Miami-based company, which also owns the Celebrity and Azamara cruise brands, made a net profit of $1.63 billion in 2017, a 26.6% increase on the previous year.

This was despite a smaller rise in revenues, up 3.3% to $8.8 billion.

The results have led RCCL to announce a staff bonus, equating to 5% of salary, for all 66,000 employees – in the form of shares in the US-listed company over the next three years, worth around $80 million to staff collectively.

Reflecting the widening popularity of cruises, RCCL says it will exceed these results again in 2018, with bookings for the year “better than last year’s record high and at higher rates”.

Caribbean recovers
Consumers in North America and Europe “continue to drive strong demand” for its cruises, the company said, which means it is now on course for a ninth consecutive year of yield growth.

Part of the reason for this forecasted increase in yields is the launch of three new ships this year: Symphony of the Seas, Celebrity Edge and Azamara Pursuit.

Royal Caribbean admits that sales to the Caribbean had been “relatively soft” for six weeks following hurricanes Irma and Maria last August and September but that bookings “normalised” from November onwards so that sales are now ahead of last year.

Related stories

Biggest year for new cruise ships

What not to wear on a cruise

Royal Caribbean adds Nordic destination

x

Check Also

Copenhagen, Port, cruise, passengers, record, number, ships, calls, 2018, 2019, terminal

Copenhagen to get new cruise terminal for 2020

Set to open in April 2020, the terminal will help the city cope with the rising tide of cruise passengers.

Hapag-Lloyd Cruises, shipyard, expedition, ships, vessels, cruise, Arctic, Antarctica, Amazon, adults-only, tui, order, vard

Hapag-Lloyd to add ‘adults-only’ expedition ship

Now three new expedition ships are to be built in Norway for the TUI-owned cruise company.

Seabourn, Cruise, ships, vessels, submarines, boats, Zodiac, kayak, Arctic, Antarctica, expedition cruise, market, companies, lines, Ponant, Silversea, trend

Seabourn signs up for expedition ships – with subs

Seabourn Cruise Line joins an increasingly crowded market of lines getting into expedition cruising.

Ritz-Carlton Yacht Collection, travel, trends, Ritz, cruise, luxury, brand, Marriott, hotel, Prothero, interview

After Ritz-Carlton, Marriott may ‘float’ more brands

Not only will the luxury hotel brand build more luxury cruise ships, other Marriott brands may follow.

Norwegian Yacht Voyages, design, start-up, cruise, ships, architects, Helge R Naarstad, chairman, NCL

Ex-NCL president joins Norwegian cruise startup

The former Norwegian Cruise Line president Helge R Naarstad is on board as chairman of the board.

Silversea, cruise, Royal Caribbean, buy, stake, shares, company, luxury, market

Royal Caribbean buys “crown jewel” Silversea

The $1 billion majority stake in Silversea is designed to drive capacity in the luxury and expedition markets.