“We are certainly not immune to macro volatility, but what we’re seeing on the ground in our bookings and the real time spending occurring on our ships is that consumers are still prioritizing experiences, planning to spend more on them this year and are seeking value that we are well positioned to offer,” said Jason Liberty, president and CEO of Royal Caribbean Group, speaking on the company’s first quarter earnings call.

“At this point, it’s still too early to determine how exactly the current macro environment could impact the broader economy or consumer behavior. What I want to emphasize is that we are focused on what we can control delivering the best vacation experiences for our guests, optimizing revenue, managing costs and executing on our long-term strategies,” he said.

Liberty said that wave season was the best in company history.

“During the first quarter, bookings outpaced last year across all products resulting in the best wave season in the company’s history. In the month of April, bookings for 2025 are outpacing last year with close-in bookings trending particularly well. Our book position is in line with prior years at higher APDs,” Liberty said.

In addition, onboard spending and pre-cruise purchasing continues to exceed prior years, he explained, at higher prices.

“All commercial channels are generating quality demand with particular strength in our direct-to-consumer channels. As always, we continue to possess a nimble and flexible sourcing model, both geographically and demographically, with the ability to source quality demand all over the globe.”