Cruise lines Royal Caribbean and Carnival expect to increase profits in 2024
Leading cruise companies Royal Caribbean and Carnival reported an increase in sales this tourist season. This is evidenced by the overall occupancy rate, which increased by 20.5% compared to last year.
It is reported that passenger ticket revenues accounted for more than two-thirds of sales, and the rest was derived from additional services on board, which is a clear sign of the recovery in travel demand. This was reported by Proactive Investors.
It is noted that the shares of the American company Royal Caribbean Cruises Ltd increased by 6% due to the annual earnings report, the total amount of which increased by 57% and amounted to $5.1 billion for the 2023 reporting year. Given the high revenues and record bookings, the company has raised its annual forecasts for this year. Thus, the adjusted annual earnings per share is projected at $9.90-10.10.
Another global cruise operator Carnival PL also reports optimistic forecasts. It is reported that the company received record revenues in fiscal year 2023, which was refuted by high demand for cruises. Thus, as the company surpassed the previous year's figures in each quarter, the profit for the whole year jumped by 77% to USD 21.6 billion.
Earlier, TravelWise reported that Carnival Corporation was included in the list of the best US employers this year.