Royal Caribbean reports strong forward bookings
Forward bookings for Royal Caribbean Cruises are ahead of last year in both rate and volume, with new ships Harmony of the Seas and Ovation of the Seas ‘seeing strong trends’.
The cruise line’s third-quarter 2016 financial results to the end of September included higher-than-expected quarterly profit attributed to strong demand for North American cruises and increased onboard spending.
Royal Caribbean posted net profit of $693.3 million, or $3.21 a share, compared with $228.8 million, or $1.03 a share, in the same period in 2015.
The 2015 quarter’s earnings had included $399.3 million in non-cash impairment charges related to its Spanish cruise brand Pullmantur.
Net revenue yields, which take into account spending per available berth, rose 0.4% for the third quarter.
Total revenue rose 1.6% to $2.56 billion.
Continued strength in demand for North American cruises was a key driver for Royal Caribbean’s strong quarter, with the rest of the itineraries performing within expectations.
This strong demand helped offset the impact from the delay in opening Empress of the Seas sailings in the fourth quarter.
Onboard revenue growth continued to outpace net yield growth, even after an extraordinary outperformance last summer. In addition, favorable trends in both currency and fuel helped the quarter.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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