RCCL’s Liberty: Brands ‘Stronger Than Ever’

Jason Liberty, president and chief executive officer of Royal Caribbean Group, said that the company’s brands are more vital than ever, and yields in the first quarter far exceeded previous records. During the company’s earnings call, he discussed the first quarter’s results.

• He said occupancy was 102 percent in the first quarter at higher prices than in 2019. All company brands were profitable, he noted.
• According to Liberty Air, strong demand for Caribbean itineraries contributed to higher load factors and better-than-expected pricing both onboard and on tickets.
• As a result, our yields have exceeded record highs, and we expect this trend to continue throughout the rest of the year. We always expected the rest of the year to be strong, even though we thought the first quarter would be a transitional period. The consumer’s and our brands’ strengths are evident in the demand being so much stronger than our expectations for the next nine months.
• According to Liberty, bookings far exceeded 2019 levels by a wide margin. Significantly higher prices continued into April through the first quarter.
• The booking window has remained the same, Liberty explained.
• He said the North American consumer continues to show exceptional strength across all products and markets. Our Caribbean sailings achieved record yields due to this strength and the Perfect Day at CocoCay.”
• Strong labor markets, high waves, and excess savings are boosting Liberty’s customers’ financial health and desire to take vacations.