Royal Caribbean CEO on Strong Consumer Demand and 2026 Outlook

Strong Consumer Demand for Travel

• 💡 Royal Caribbean is experiencing incredibly strong demand for its brands and vacation experiences, with consumers actively planning and booking trips.
• 💰 Guests are not only booking but also paying higher prices for their vacations, indicating a robust market.
• 📊 Tens of thousands of bookings are made daily, and onboard spending remains strong, demonstrating continued consumer engagement.

Evolving Booking Behaviors

• 🗓️ There's an observed trend of closer-in booking, partly driven by the availability of more short-duration cruise products.
• 🚀 Younger guests, in particular, prefer shorter vacation experiences and are booking them more frequently.
• 🚢 While shorter trips see closer-in bookings, longer products like seven-night cruises and European itineraries continue to book further out in a more traditional cycle.

Addressing Market Narratives

• 🚫 The narrative that consumers are on the ropes and unable to afford vacations is incorrect, according to CEO Jason Liberty.
• 📈 Consumers are booking and spending, supported by good jobs, strong balance sheets, and savings, with a desire for vacation experiences.
• 🌍 Demand is strong across all Royal Caribbean brands, from contemporary to ultra-luxury, including Silver Sea and Expedition.

International Demand and Deployment

• ✈️ While there was some impact on inbound international tourism earlier in the year, Royal Caribbean's business model and deployment strategy mitigate significant challenges.
• 🌐 Approximately 20% of guests for Caribbean deployments come from outside the country, while European deployments are more focused on European consumers.
• 📈 The company's business management approach ensures that challenging sentiment does not negatively impact their operations.