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Royal Caribbean: Onboard Revenue Up, Building New Guest Pipeline

  • August 1, 2025
Independence of the Seas

“In the second quarter, we delivered 2.3 million incredible vacations, new-to-cruise or new-to-brand accounted for approximately 60 percent of our guests, of which more than half were millennials or younger,” said Naftali Holtz, CFO, Royal Caribbean Group, speaking on the company’s second quarter earnings call.

Holtz also said that onboard revenue was higher than in the same quarter as 2024 across all key categories.

“We continue to see very engaged consumers. In the second quarter, approximately half of our onboard spend was booked before the sailing with three out of four guests making pre-cruise purchases to reserve onboard experiences,” Holtz said.

Key onboard revenue categories are said to be food and beverage, spa, internet and shore excursions.

Total onboard and other revenues, according to the company’s earnings release, were $1.339 billion, up from $1.223 billion the year prior, marking a 9.5 percent jump.

That is directly in line with the jump in passengers carried, which was up 10 percent to 2,254,057 in the second quarter, compared to 2,040,242 guests last year.

Jason Liberty, CEO, said that those who book onboard experiences before their cruise spend two-and-a-half times more than those who do not buy pre-cruise.

He added: “We’re seeing very similar trends on ticket as well as on onboard (spend). Obviously, both of them are competing against very, very significant comps. But what we’re seeing in terms of where the consumer is spending while they’re on the ship looks very similar, except that it’s stronger.”

 

 

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