Royal Caribbean Group secures ‘record booked position’

Royal Caribbean Group has reported its best-ever start to the wave season, producing a record booked position, on the back of 2023 financial results showing an “exceptional” year.

Net income for the year was $1.7 billion, compared with a net loss of $2.2 billion in 2022, while total revenues stood at $13.9 billion – up from $8.8 billion the previous year.

Net income for the three months up to December 31 was $0.3 billion, in contrast to a net loss of $0.5 billion for the same period in 2022.

More: Royal Caribbean chief ‘not worried’ about supply outstripping demand

Royal Caribbean Group president and chief executive Jason Liberty said: “Last year was exceptional, propelled by unmatched demand for our brands from new and loyal guests. With the wind in our sails and record-breaking bookings, 2024 is poised to be another robust year.”

The group has achieved five of the best booking weeks in its history since the last results call. The first three weeks of the wave period were among the top five.

As a result, the company is now in a record booked position in both rate and volume.

All of the key itineraries have been benefiting from the bookings boom, with the response to the new ships – including Icon of the Seas – proving “excellent”.

Liberty said: “Demand for our brands continues to outpace broader travel as a result of consumer spend further shifting toward experiences and the exceptional value proposition of our products.

“We have exciting new vacation experiences in 2024, including the game-changing Icon of the Seas, and have entered the year in a record booked position at significantly higher prices, further positioning us for a strong 2024.”

In the final quarter of 2023, the number of passengers carried was 1,939,360, producing a load factor of 105.4%, compared with a total of 1,746,130 for the same period of 2022 and a load factor of 94.9%.

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