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Royal Caribbean: ‘Commercial Flywheel’ Driving Numbers

  • October 29, 2025
Oasis of the Seas

“Our commercial flywheel combining innovative ships distinctive destinations and world-class brands continues to drive sustained growth in guest trust and our ability to deliver the best vacation experiences responsibly,” said Jason Liberty, CEO and chairman of Royal Caribbean Group, speaking on the company’s third quarter earnings call.

“We are focused on building a vacation platform that continues to lead the leisure market through innovative ships, a growing portfolio of exclusive destinations, technology and AI that enhance every step of the guest journey,” he said.

Among new destinations is the Royal Beach Club in Santorini Greece.

“This reflects our vision to redefine how the world vacations. And together with the Royal Beach Club Paradise Island, Perfect Day Mexico and others, we expect to increase our exclusive land-based destination portfolio from two to eight by 2028,” he continued.

“These initiatives reflect a thoughtful, sustained investment behind our commercial flywheel and reinforce the strength of our vacation platform.”

Liberty pointed to the third quarter’s strong results, driven by close-in demand and lower costs.

He said that capacity grew 3 percent while net yields grew 2.4 percent.

Looking ahead to 2026, Liberty explained that bookings are up on both new and like-for-like hardware with particular acceleration for close-in family bookings.

“Booked load factors for 2026 remained well witin historic ranges at record rates, with booked APD growth at the high end of historical ranges,” he added.

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