Consumer Interest for Royal Hardware and Destinations Support Higher Pricing Ahead

Consumer interest in cruise travel is set to maintain momentum for Royal Caribbean into 2026, exhibiting solid demand and pricing trends. Since the full redeployment of the fleet in mid-2022, occupancy has returned to historical levels, and profits and cash flow growth has normalized. Royal Caribbean is expected to report record pricing again in 2025, with further growth anticipated in 2026, given new hardware and destinations set to launch at premium prices. On the cost side, expenses should be well managed ahead as a result of optimized occupancy and ongoing productivity initiatives, aiding profitability.