Royal Caribbean Says Travelers Keep Paying More and Keep Booking

Royal Caribbean Group is heading into 2027 with more bookings at higher prices than ever, according to Chairman and CEO Jason Liberty. On the October 27 third-quarter earnings call, he said booking volumes have risen in the mid-teens percent range year over year since the July call, and that the booked position for 2026 and 2027 is ahead of the prior year at record rates.

The company reported third-quarter earnings of $6.45 per share, or $6.57 adjusted, which it said beat guidance on strong close-in demand and lower costs due to timing. It raised its full-year adjusted earnings outlook.

Liberty credited revenue management tools, net promoter scores in the low-to-mid 70s and a growing base of repeat guests: nearly half of this year’s guests were repeaters and 40 percent were loyalty members. He tied strong last-minute booking to shorter itineraries and a younger guest mix, with half of guests now millennial or younger.

Onboard spending beat projections, and Liberty argued cruise yields have grown about 35 percent over several years but still trail gains in land-based vacations, which he reads as pricing headroom. He added that rising land-based prices are typically a good sign for the sector.

Sources: Cruise Industry News, Cruise Industry News (Q3 results)