Royal Drives Onboard Earnings

Royal Caribbean International saw a reasonable increase in onboard spending last year, according to Adam Goldstein, CEO and president. He said the increase was particularly from shore excursions and beverages.

Speaking on today’s earnings call, Goldstein said as the brand has become more global, it has created more shore excursions for different passengers, speaking different languages, and that beverage sales have been driven by a variety of beverage packages, giving consumers more choices in how to structure their beverage experience.

The revitalization of ships has also created new revenue opportunities, he said, with more specialty restaurants and better bars.

Goldstein also noted that there is a huge effort underway across all brands to generate a larger onboard revenue upside.

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