Royal Caribbean Group and its portfolio of cruise brands will launch 11 new ships between 2023 and 2026, culminating in the third Icon Class ship in 2026 being delivered from Meyer Turku to Royal Caribbean International, and a newbuild for TUI Cruises from Fincantieri, according to the cruise ship orderbook.

In the near term, Jason Liberty, president and CEO, said that the business would grow capacity by 10 percent in 2024, 5 percent in 2025 and 6 percent in 2026.

“I think the first thing to point out is, that’s not just one brand in one market, in one destination,” he said. “So this really reflects our three wholly owned brands and how they’re going to grow in their different segments and also for these ships to be in different parts of the world.

“If you look at the orderbook, as you get into ’27 and ’28, it’s lighter orderbook. We believe that at Royal Caribbean that the addressable market is underpenetrated, especially in all the different markets that we operate. We work very hard to create global brands that attract guests from all over the world, and of course, to build the revenue management systems to effectively harvest that quality demand. And we think that apparatus more than supports our expected supply growth over the coming years.”