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Royal Group upgrades earning forecast again off back of 'exceptional' demand

Royal Caribbean
Will Payne
27 July 2023

"Exceptional" cruise demand combined with strong ticket pricing during the second quarter of 2023 has helped Royal Caribbean Group increase its revenue expectations for the remainder of the year.

 Jason Liberty, Royal Caribbean Group president and chief executive

In a recent trading update covering the three months to 1 July, the company reported strong pricing for both North America and Europe itineraries, coupled with an increase in onboard spending, led to "better-than-expected" revenues in Q2 and the boost in the company’s full year outlook for revenue and earnings.

Booking volumes in Q2 remained "significantly" higher than the corresponding period in 2019 at record pricing levels and as of 30 June, the group’s customer deposit balance was at a record-high $5.7 billion.