Photo Credit: An aerial view of CocoCay, a private destination created by Royal Caribbean. Royal Caribbean
Royal Caribbean Group wants a bigger slice of travelers’ wallets.
Close to half of guests this year are expected to be repeat customers, but executives see room for growth aided by plans to purchase a 50% stake in Sandals Resorts and Beaches Resorts.
The cruise operator, which reported better-than-expected third-quarter results and raised its full-year guidance Tuesday, said it captures 20% to 25% of its guests’ annual vacation spend. By adding all-inclusive resorts to its ecosystem, that reach is expected to stretch to roughly 50%.
“If a Royal Caribbean customer goes on a competitive cruise brand, I think that's a fail,” CEO Jason Liberty said during an earnings call. “Having connected loyalty and delivering these incredible experiences should keep our customer inside of our ecosystem.”
Third-Quarter Results
Royal Caribbean said third-quarter results beat guidance thanks to stronger-than-expected close-in demand in Europe an