Royal Caribbean Group is heading into 2027 with more business on the books at higher prices than ever, according to Jason Liberty, chairman and CEO.

Speaking on the company’s third quarter earnings call on Tuesday, Liberty said booking volumes had increased in the mid-teens year over year since the last earnings call in July, with bookings for 2027 sailings up.

“Our booked position for both 2026 and 2027 is ahead of the prior year at record rates,” Liberty said.

“I would take the commentary as customers are willing to pay us more in the future and today than they did yesterday,” Liberty explained.

He credited the company’s revenue management tools, net promoter scores in the low to mid 70s and a growing base of repeat guests. Close to half of this year’s guests were repeat customers, while 40 percent were loyalty members.

Liberty said strong close-in booking has been a theme for several years, driven in part by shorter itineraries and a younger guest mix, with half of guests now millennial or younger.

He added that onboard spending had beaten projections.

“They’re paying even more than we had anticipated,” Liberty said.

“I think that really talks to the resilience of the business, the resilience of the consumer,” he said.

Liberty also pointed to pricing headroom versus land-based vacations, noting cruise yields had grown about 35 percent over the past several years but still trailed land-based gains.

“When we see land rise that’s typically a good sign,” he said.