1 of 2 | Carnival Cruiseline recorded record profits over the last year and is reporting that most of its cruises are booked for 2024. Photo courtesy of Carnival Cruiseline
Dec. 21 (UPI) -- More and more Americans are shuttling off to sea to unwind, leading to a surge in popularity and profits for major cruise lines, including Carnival, Norwegian Cruise Lines and Royal Caribbean.
Continuing a trend from 2022, travelers are booking vacations on new boats like Icon of the Seas, traveling to new destinations like Basseterre, Cozumel, Mexico, and St. Lucia Castries in addition to a slate of private destinations, like Perfect Day at CocoCay, The Bahamas and Labadie, Haiti.
Global Rescue, which provides health and rescue services for vacationers around the world, conducted a 2023 Traveler Safety and Sentiment Survey in which 40% of respondents said they had taken a cruise since 2020 or planned to in 2023.
On Thursday, Carnival Corp. announced revenues hit an all-time high of $21.6 billion in 2023. The company was able to make debt payments of $6 billion, reducing its debt balance by $4.6 billion from its peak in the first quarter of 2023. The company is moving into the new year with its best booked position on record, for both price and occupancy, as well as $5.4 billion of liquidity, it said.
In a news release, Carnival said total customer deposits reached a fourth-quarter record of $6.4 billion, surpassing the previous fourth-quarter record of $5.1 billion, set in 2022.
"We entered the year with the best booked position we have ever seen, and now have nearly two-thirds of our occupancy already on the books for 2024, at considerably higher prices. We continue to experience strong bookings momentum across the board, with our European brands showing remarkable strength during the quarter with booking volumes running up well into the double digits at considerably higher prices," Carnival CEO Josh Weinstein said in a statement.
In November, Norwegian Cruise Line reported quarterly earnings that "met or exceeded guidance for all key metrics." According to the report, the company generated a record total revenue of $2.5 billion, up 33 percent compared to the same period in 2019.
It also lowered earnings projections for the year due to disruptions caused by the Maui wildfires and the outbreak of war in Israel.
Royal Caribbean Group made $4 billion in sales in the third quarter, the South Florida Business Journal reported, with a $1 billion net income -- more than double the previous quarter's profits of $458.8 million.
Earlier in December, soccer star Lionel Messi signed a deal to become the official Icon of Icon of the Seas, Royal Caribbean International's new cruise line, which boasts 20 decks, seven pools, six waterslides and more than 2,300 crew members.
Messi's new role follows the recent announcement of Royal Caribbean and Inter Miami CF's partnership, in which the cruise line is the Club's Main Partner and Official Vacation Partner.
