royal caribbean cruises ltd press release

Royal Caribbean to Make First Calls to Vanilla Islands

• April 14, 2024

Royal Caribbean International will make a series of inaugural visits to Vanilla Islands with the Serenade of the Seas in May, according to a press release.

The Serenade of the Seas is scheduled to visit four islands: Seychelles (May 14); Madagascar (May 17); Mauritius (May 19); and Reunion (May 20).

Pascal Viroleau, chief executive officer of Vanilla Islands Organisation, said that this visit promises to inaugurate a new era of travel and discovery for the region. 

“Royal Caribbean is cruising for the first time in our seas. It will come in May,” Viroleau told Cruise Industry News . “We hope that the calls will satisfy both the company and the passengers and then they could deploy a more consistent program.”

Cruise Industry News Email Alerts

• Breaking News

Get the latest breaking  cruise news .  Sign up.

54 Ships | 122,002 Berths | $36 Billion | View

Highlights:

• Mkt. Overview
• Record Year
• Refit Schedule
• PDF Download
• Order Today

• 2033 Industry Outlook 
• All Operators
• Easy to Use
• Pre-Order Offer
• Advertising
• Cruise News
• Magazine Articles
• Quarterly Magazine
• Annual Report
• Email Newsletter
• Executive Guide
• Digital Reports

Privacy Overview

Become a member today, It's free!

Remember me

Send my password

Royal caribbean group announces proposed offering of senior unsecured notes to refinance its senior notes due 2027.

MIAMI , Feb. 22, 2024 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE: RCL) (the "Company") today announced that it has commenced a private offering of $1.0 billion aggregate principal amount of senior unsecured notes due 2032 (the "Notes").

The Company intends to use the proceeds from the sale of the Notes, together with cash on hand and/or borrowings under the Company's revolving credit facilities, to redeem all of the outstanding 11.625% Senior Notes due 2027 (including to pay fees and expenses in connection with such redemption).

The Notes are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States , only to certain non-U.S. investors pursuant to Regulation S. The Notes will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release shall not constitute a notice of redemption with respect to the 11.625% Senior Notes due 2027. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act.

Special Note Regarding Forward-Looking Statements

Certain statements in this press release relating to, among other things, the offering and sale of the Notes constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited, to: statements regarding terms of the offering of the Notes and the intended use of proceeds. Words such as "anticipate," "believe," "could," "driving," "estimate," "expect," "goal," "intend," "may," "plan," "project," "seek," "should," "will," "would," "considering," and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause the Company's actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to, the following: the impact of contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of the Company in particular, such as governmental and self-imposed travel restrictions and guest cancellations; the Company's ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the impact of the economic and geopolitical environment on key aspects of the Company's business, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning the Company's ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; further impairments of the Company's goodwill, long-lived assets, equity investments and notes receivable; an inability to source crew or provisions and supplies from certain places; an increase in concern about the risk of illness on the Company's ships or when traveling to or from the Company's ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in U.S. foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; the Company's ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; the Company's indebtedness, any additional indebtedness the Company may incur and restrictions in the agreements governing the Company's indebtedness that limit its flexibility in operating its business; the impact of foreign currency exchange rates, the impact of higher interest rate and food and fuel prices; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs related to cyber security attacks, data breaches, protecting the Company's systems and maintaining integrity and security of its business information, as well as personal data of the Company's guests, employees and others; the impact of new or changing legislation and regulations (including environmental regulations) or governmental orders on the Company's business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on the Company's business; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as the Company is not incorporated in the United States .

Forward-looking statements should not be relied upon as predictions of actual results. Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to the Company on the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Royal Caribbean Group

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 65 ships traveling to approximately 1,000 destinations around the world. Royal Caribbean Group is the owner and operator of three award winning cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises and it is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, the brands have an additional 8 ships on order as of December 31, 2023 .

SOURCE Royal Caribbean Group

Related News

@ the bell: markets deeply divided amid middle east flareup, @ the bell: tsx keeps it just above the flatline, @ the bell: tsx sees first positive day in a week, recent u.s. press releases, rosen, skilled investor counsel, encourages lifecore biomedical inc. f/k/a landec corporation..., irobot shareholder alert: claimsfiler reminds investors with losses in excess of $100,000 of lead..., ssr mining shareholder alert: claimsfiler reminds investors with losses in excess of $100,000 of..., featured news links, positive pea for uranium-vanadium deposit after-tax npv 8%: $227.7 million with irr: 38.9%, fokus mining welcomes luc gervais to its board of directors, the increasing investments by the defense and military sectors is driving the demand for helium.

Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today

Instrument Name Royal Caribbean Cruises Ltd Instrument Symbol (RCL-N) Instrument Exchange NYSE

Latest news.

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2024 .

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab) .

• Get Benzinga Pro
• Data & APIs
• Our Services
• News Earnings Guidance Dividends M&A Buybacks Legal Interviews Management Offerings IPOs Insider Trades Biotech/FDA Politics Government Healthcare
• Markets Pre-Market After Hours Movers ETFs Forex Cannabis Commodities Options Binary Options Bonds Futures CME Group Global Economics Previews Small-Cap Real Estate Cryptocurrency Penny Stocks Digital Securities Volatility
• Ratings Analyst Color Downgrades Upgrades Initiations Price Target
• Ideas Trade Ideas Covey Trade Ideas Long Ideas Short Ideas Technicals From The Press Jim Cramer Rumors Best Stocks & ETFs Best Penny Stocks Best S&P 500 ETFs Best Swing Trade Stocks Best Blue Chip Stocks Best High-Volume Penny Stocks Best Small Cap ETFs Best Stocks to Day Trade Best REITs
• Money Investing Cryptocurrency Mortgage Insurance Yield Personal Finance Forex Startup Investing Real Estate Investing Credit Cards
• Cannabis Cannabis Conference News Earnings Interviews Deals Regulations Psychedelics

Royal Caribbean Cruises Has Upside To Estimates, Says Bullish Analyst

Zinger key points.

• The company can drive price by including more unique destinations, says analyst in the initiation note.
• Royal Caribbean Cruises plans to inaugurate Royal Beach Club in spring or summer 2025.

A mix of quality ship assets and differentiated destinations helps Royal Caribbean Cruises Ltd RCL drive upside to estimates, according to Mizuho Securities .

The Royal Caribbean Cruises Analyst: Ben Chaiken initiated coverage of Royal Caribbean Cruises with a Buy rating and a price target of $164.

The Royal Caribbean Cruises Takeaways: The company can drive price by including more unique destinations, Chaiken said in the initiation note.

"RCL should be able to drive incremental demand through the expansion of existing destinations (e.g., CocoCay), the development of new attractions (Hideaway Beach and Royal Beach Club), as well as differentiated ships (e.g., Icon of the Seas)," the analyst wrote.

Royal Caribbean Cruises plans to inaugurate Royal Beach Club in spring or summer 2025, which is "particularly geared for the short-duration cruise" and could be "a material yield driver," he added.

The company has removed some costs from the system, which could drive upside to estimates, Chaiken further stated.

RCL Price Action: Shares of Royal Caribbean Cruises had risen by 0.74% to $127.55 at the time of publication on Wednesday .

Read Next: What’s Going On With Intrusion Shares Today?

Photo: Courtesy Royal Caribbean

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

• Today's news
• Reviews and deals
• Climate change
• 2024 election
• Fall allergies
• Health news
• Mental health
• Sexual health
• Family health
• So mini ways
• Unapologetically
• Buying guides

Entertainment

• How to Watch
• My Portfolio
• Stock Market
• Biden Economy
• Stocks: Most Actives
• Stocks: Gainers
• Stocks: Losers
• Trending Tickers
• World Indices
• US Treasury Bonds
• Top Mutual Funds
• Highest Open Interest
• Highest Implied Volatility
• Stock Comparison
• Advanced Charts
• Currency Converter
• Basic Materials
• Communication Services
• Consumer Cyclical
• Consumer Defensive
• Financial Services
• Industrials
• Real Estate
• Mutual Funds
• Credit Cards
• Balance transfer cards
• Cash-back cards
• Rewards cards
• Travel cards
• Personal Loans
• Student Loans
• Car Insurance
• Options 101
• Good Buy or Goodbye
• Options Pit
• Yahoo Finance Invest
• EV Deep Dive
• Fantasy football
• Pro Pick 'Em
• College Pick 'Em
• Fantasy baseball
• Fantasy hockey
• Fantasy basketball
• Download the app
• Daily fantasy
• Scores and schedules
• GameChannel
• World Baseball Classic
• Premier League
• CONCACAF League
• Champions League
• Motorsports
• Horse racing
• Newsletters

New on Yahoo

• Privacy Dashboard

Yahoo Finance

Zacks value investor highlights: jd.com, owens corning, royal caribbean cruises, toyota motor and pilgrim's pride, for immediate release.

Chicago, IL – April 17, 2024 – Zacks Value Investor is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/1865929/whats-working-in-2022-value-stocks)

Value Investors: Screen with the PEG Ratio

Welcome to Episode #364 of the Value Investor Podcast.

(0:30) - Finding Strong Investments Using The PEG Ratio

(5:40) - Tracey’s Top Stock Picks

(18:20) - Episode Roundup: JD, OC, RCL, TM, PPC

[email protected]

Every week, Tracey Ryniec, the editor of Zacks Value Investor portfolio , shares some of her top value investing tips and stock picks.

It’s time to look at a basic value investing screen. But this week, Tracey skipped classic value to go straight for the value investor’s secret weapon: growth and value.

Finding good value stocks might seem easy, but combining the value with growth, is very difficult. It’s a rare combination.

What's the PEG Ratio?

Benjamin Graham, the “father” of value investing and former boss of Warren Buffett, invented the PEG ratio as a way to not only get a cheap stock, but to also get growth.

What is the PEG ratio? It is the P/E ratio (price over earnings) divided by the growth rate.

For value investors, you want to look for a PEG ratio under 1.0. That means a company is both cheap and has growth.

Screening with the PEG Ratio

Zacks has a PEG ratio screen which includes the Zacks Rank of #1 (Strong Buy) and #2 (Buy) along with the current average broker recommendation.

It also looks for stocks over $5.

The screen is even more demanding of the PEG ratio, however. It looks for stocks with a PEG of 0.55 or less. That’s going to have a lot of value.

This is one of Tracey’s favorite stock screens for value investors.

This screen returned 19 stocks.

5 Value Stocks with Growth for Your Short List

1. JD.com, Inc. JD

JD.com is a Chinese Internet retailer. Shares of JD.com are down 12% year-to-date and have sold off over the last 5 years, falling 16.9% during that time.

It’s cheap, with a forward P/E of just 8.5 along with a PEG ratio under 1.0. But Chinese stocks have struggled over the last 2 years.

Is JD.com too cheap to pass up?

2. Owens Corning OC

Owens Corning manufactures building and construction materials. This is a hot area of the economy right now. Shares of Owens Corning are up 10.5% year-to-date and it recently hit new 5-year highs. Owens Corning is up 216% over that period.

Yet Owens Corning remains cheap. It trades with a PEG ratio of just 0.3. Owens Corning also pays a dividend yielding 1.5%.

Should Owens Corning be on your short list?

3. Royal Caribbean Cruises Ltd. RCL

Royal Caribbean Cruises operates cruise ships. Cruising struggled during the pandemic but has made a comeback four years later.

However, shares of Royal Caribbean are down 1.8% year-to-date. And even over the last 5 years, they are up just 4.3%.

Royal Caribbean is cheap and has growth. It’s forward P/E is just 13.3 and Royal Caribbean is expected to grow earnings by 48% in 2024.

Should you add a travel and hospitality company like Royal Caribbean to your watch list?

4. Toyota Motor Corp. TM

Toyota Motor is a Japanese auto manufacturer. Shares of Toyota have soared in 2024, adding 32%. It has also hit 5-year highs, up 94% during that period.

Despite the big rally, Toyota remains cheap. It has a forward P/E of just 10.7. It’s expected to grow earnings by 73% in fiscal 2024 but what will come next? Can it keep this growth rate?

Should an auto manufacturer like Toyota be on your watch list in 2024?

5. Pilgrim’s Pride Corp. PPC

Pilgrim’s Pride produces chicken and pork products. Shares of Pilgrim’s Pride have soared this year, adding 28%. But over the last 5 years, they’ve lagged the S&P 500. Pilgrim’s Pride is up 52.5% during that period while the S&P 500 is up 76.2%.

Pilgrim’s Pride is cheap. It trades with a PEG ratio of just 0.4. Earnings are expected to soar 75.4% this year.

After such a big rally, it too late to buy Pilgrim’s Pride?

What Else Do You Need to Know About Using the PEG Ratio to Find Top Value Stocks?

Tune into this week’s podcast to find out.

Why Haven’t You Looked at Zacks' Top Stocks?

Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.

Today you can access their live picks without cost or obligation.

See Stocks Free >>

Tracey Ryniec is the Value Stock Strategist for Zacks.com. She is also the Editor of the Insider Trader and Value Investor services. You can follow her on twitter at @TraceyRyniec and she also hosts the Zacks Market Edge Podcast on iTunes.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros.  In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time!  Click here for your free subscription to Profit from the Pros.

Join us on Facebook:  https://www.facebook.com/ZacksInvestmentResearch/

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

[email protected]

https://www.zacks.com/performance

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Toyota Motor Corporation (TM) : Free Stock Analysis Report

Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report

Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report

Owens Corning Inc (OC) : Free Stock Analysis Report

JD.com, Inc. (JD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Press Releases

Royal caribbean cruises ltd. extends suspension of cruising.

MIAMI, May 20, 2020 – Given ongoing   global public health circumstances, Royal Caribbean Cruises Ltd. has decided to extend the suspension of most   sailings through July 31, 2020,   with the exception of sailings from China, which will be suspended through the end of June.

We are working with our guests and travel partners to address this disruption to their vacations, and we are genuinely sorry for their inconvenience.

We expect to return to service on August 1.

Webcasts & Presentations

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: statements regarding revenues, costs and financial results for 2020 and beyond. Words such as “anticipate,” “believe,” “could,” “driving,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,” “should,” “will,” “would,” “considering”, and similar expressions are intended to help identify forward-looking statements. Forward-looking statements reflect management’s current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to the following: the impact of the global incidence and spread of COVID-19, which has led to the temporary suspension of our operations and has had and will continue to have a material adverse impact on our business and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: the current and potential additional governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional suspensions, guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; concerns over safety, health and security of guests and crew; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; the incurrence of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; the impact of foreign currency exchange rates, interest rate and fuel price fluctuations; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs associated with protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others; the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; emergency ship repairs, including the related lost revenue; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; and the unavailability or cost of air service.

In addition, many of these risks and uncertainties are currently heightened by and will continue to be heightened by, or in the future may be heightened by, the COVID-19 pandemic. It is not possible to predict or identify all such risks.

More information about factors that could affect our operating results is included under the caption “Risk Factors” in our most recent quarterly report on Form 10-Q, as well as our other filings with the SEC, and the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent annual report on Form 10-K, copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC’s website at www.sec.gov . Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Press Releases

Royal caribbean group reports on 2020 results and provides business update.

MIAMI , Feb. 22, 2021 -- Royal Caribbean Group (NYSE: RCL) today reported financial results for the fiscal year of 2020 and commented on the business considering the global COVID-19 pandemic.

"The COVID-19 pandemic is having a painful and profound impact on our world and our business; unquestionably, this crisis is the most difficult in the Company's history. But we have been impressed and grateful for the resourcefulness and agility of our team in responding to these unprecedented challenges. More importantly, we remain confident about the ability of our Company to recover and return to the positive trajectory we were on previously," said Richard D. Fain , Chairman and CEO. "We are encouraged to see the sharp decline in cases and the growing availability of vaccines. We can't wait to get back to the business of showing people the world and making great memories."

Full Year 2020 results: As part of the global containment effort resulting from the COVID-19 pandemic, the Company implemented a voluntary suspension of its cruise operations beginning March 13, 2020 , which has been extended for most ships through at least April 30, 2021 .

For the full year, the Company reported US GAAP Net Loss of $(5.8) billion or $(27.05) per share compared to US GAAP Net Income of $1.9 billion or $8.95 per share in the prior year. The Company also reported Adjusted Net Loss of $(3.9) billion or $(18.31) per share for full year 2020 compared to Adjusted Net Income of $2.0 billion or $9.54 per share in the prior year.

Fourth Quarter 2020 results: US GAAP Net Loss for the fourth quarter was $(1.4) billion or $(6.09) per share and Adjusted Net Loss was $(1.1) billion or $(5.02) per share. Last year, US GAAP Net Income was $273.1 million or $1.30 per share, and Adjusted Net Income was $297.4 million or $1.42 per share for the fourth quarter.

The Net Loss and Adjusted Net Loss for the fourth quarter and full year of 2020 are the result of the impact of the COVID-19 pandemic on the business.

"These results reflect the staggering impact that the pandemic brought to our Company and the whole industry during 2020," said Jason T. Liberty , executive vice president and CFO. "I want to thank all our teams who have risen to the occasion, managing through the toughest year in Royal Caribbean's history."

Health & Safety Protocols, Business Update The Company continues to work and collaborate with the Healthy Sail Panel, epidemiologists, health authorities and various governments around the globe to ensure a healthy and safe return to cruising for guests, crew and the communities visited. While the situation remains highly fluid, knowledge of the virus and how it spreads continues to improve.

The Company has already begun some limited operations. For example, in December, Quantum of the Seas started operating out of Singapore . In addition, our TUI Cruises affiliate has had three vessels operating in the Canary Islands since November. "Guests are sharing very positive reviews and we are also seeing a higher proportion of first-time cruisers than expected. We believe that these cruises, even before the availability of vaccines, are helping us learn and demonstrate to others how we can operate successfully under the current COVID-19 environment," noted Mr. Fain.

The Company also continues to prepare and develop its plan to meet the Framework for Conditional Sailing Order issued by the U.S. Centers for Disease Control and Prevention (CDC) for US sailings. While the framework represents an important step to return to service, many uncertainties remain as to the specifics, timing, and cost of implementing its requirements. Overall, and due to the challenges posed by the pandemic, the Company expects to re-start its global cruise operation in a phased manner with the initial cruises having reduced guest occupancy, modified itineraries and enhanced health and safety protocols.

On January 29, 2021 , the Company announced it had entered into a definitive agreement to sell its Azamara brand in an all-cash transaction for $201 million . The deal includes Azamara's three-ship fleet and associated intellectual property.

Update on Liquidity Actions and Ongoing Uses of Cash Since the suspension of its global cruise operation, the Company has taken aggressive actions to enhance its liquidity through significant cost and capital reductions, cash preservation measures and by obtaining additional financing. During 2020, the Company raised approximately $9.3 billion of new capital through a combination of bond issuances, common stock public offerings and other loan facilities.

Given the current environment, the Company continues to work to bolster its liquidity, so it is well positioned for recovery. Among its latest efforts, the Company highlighted the following:

• Completed a $1.0 billion "at-the-market" equity offering during the month of December 2020 ;
• Amended its export credit facilities to defer $0.8 billion of principal amortization due before April 2022 and to waive financial covenants through at least the end of the third quarter of 2022;
• Received approvals from its export credit agencies (ECAs) to defer an additional $0.4 billion of principal amortization due before April 2022 which are expected to be completed in Q1 2021;
• Amended over $4.9 billion of commercial bank facilities to provide covenant waivers through the end of the third quarter of 2022 and to reset covenant levels for the balance of 2022 and 2023.

The Company estimates its cash burn to be, on average, in the range of approximately $250 million to $290 million per month during a prolonged suspension of operations. This range includes all interest expenses, ongoing ship operating expenses, administrative expenses, hedging costs, expected necessary capital expenditures (net of committed financings in the case of newbuilds) and excludes changes in customer deposits, commissions, principal repayments, and fees and collateral postings related to financing and hedging activities. As the Company starts returning its fleet into service, it has (with respect to existing operations) and will incur incremental spend as it brings the ships out of their various levels of layup, returns the crew to the vessels, takes the necessary steps to ensure compliance with the recommended protocols and gears up its sales and marketing activities.

Liquidity and Financing Arrangements As of December 31, 2020 , the Company had liquidity of approximately $4.4 billion , including $3.7 billion in cash and cash equivalents and a $0.7 billion commitment from a 364-day facility.

The average monthly cash burn rate for the fourth quarter of 2020 was consistent with the previously announced range.

"We remain focused on improving our liquidity position, managing our operating expenditures and ensuring that our family of brands is ready for the return to service," noted Mr. Liberty. "We are well positioned to emerge competitively stronger and are eager to start delivering world class vacations – which we expect will lead back to compelling returns and a strong balance sheet."

The Company noted that as of February 22, 2021 , the expected debt maturities for 2021 are $0.4 billion (assuming completion of the remaining $0.4 billion in ECA ship principal amortization deferrals).

Net Interest expense for the first quarter of 2021 is expected to be in the range of $243 million to $247 million .

Capital Expenditures and Capacity Updates The expected capital expenditures for 2021 are $2.1 billion . These expenditures are mainly driven by our newbuild projects which have committed financing. During 2021, the Company expects the delivery of Odyssey of the Seas and Silver Dawn during the first and fourth quarters, respectively.

Depreciation and amortization expenses for the first quarter of 2021 are expected to be approximately $310 million .

As it relates to 2022, the Company has two ship deliveries scheduled, both with committed financing: Wonder of the Seas and Celebrity Beyond. Excluding the newbuild deliveries, the capital expenditures for 2022 will depend on the Company's schedule to return to service.

Since the suspension of operations and during 2020, the Company divested three ships from its fleet: Celebrity Xperience , Majesty of the Seas and Empress of the Seas . The Company also divested three ships being used by its Pullmantur affiliate. Additionally, the Company announced it entered into a definite agreement to sell its Azamara brand which includes three vessels: Azamara Journey, Azamara Quest and Azamara Pursuit .

Fuel Expense As of December 31, 2020 , the Company had hedged approximately 40%, 23% and 5% of its total projected metric tons of fuel consumption for 2021, 2022 and 2023, respectively. The current suspension of the cruise operations due to the COVID-19 pandemic resulted in reductions to the forecasted fuel consumption. As of December 31, 2020 , the Company had outstanding fuel swaps of 229,850 and 14,650 metric tons maturing in 2021 and 2022, respectively, that no longer hedge the forecasted fuel consumption. For 2021, 2022 and 2023, the annual average cost per metric ton of the fuel swap portfolio is approximately $435 , $514 , and $580 , respectively.

Update on Bookings Booking activity for the second half of 2021 is aligned with the Company's anticipated resumption of cruising. Pricing on these bookings is higher than 2019 both including and excluding the dilutive impact of future cruise credits (FCCs).

While the brands are still in the process of opening for sale the remainder of their 2022/2023 seasons, first and second quarter 2022 sailings have been open for some time. Cumulative advance bookings for the first half of 2022 are within historical ranges and at higher prices. This was achieved with minimal sales and marketing spend which the Company believes highlights a strong long-term demand for cruising.

Since the last business update, approximately 75% of bookings made for 2021 are new and 25% are due to the redemption of FCCs and the "Lift & Shift" program. The Company continues to provide guests on suspended sailings with the option to request a refund, to receive an FCC, or to "lift & shift" their booking to the following year.

As of December 31,2020 , the Company had $1.8 billion in customer deposits of which 50% are related to FCCs. Since the suspension of operations, approximately 53% of the guests booked on cancelled sailings have requested cash refunds.

2021 Outlook The Company's operation is still subject to the impact of COVID-19.  Consequently, the Company cannot reasonably estimate its financial or operational results. Notwithstanding the foregoing, the Company expects to incur a net loss on both a US GAAP and adjusted basis for its first quarter and the 2021 fiscal year, the extent of which will depend on many factors including the timing and extent of the return to service.

CONFERENCE CALL SCHEDULED The Company has scheduled a conference call at 10 a.m. Eastern Time today.  This call can be heard, either live or on a delayed basis, on the Company's investor relations website at www.rclinvestor.com .

Definitions Selected Operational and Financial Metrics

Adjusted (Loss) Earnings per Share ("Adjusted EPS") Represents Adjusted Net (Loss) Income attributable to Royal Caribbean Cruises Ltd. divided by weighted average shares outstanding or by diluted weighted average shares outstanding, as applicable. We believe that this non-GAAP measure is meaningful when assessing our performance on a comparative basis.

Adjusted Net (Loss) Income Adjusted Net (Loss) Income represents net (loss) income less net income attributable to noncontrolling interest excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. For the periods presented, these items included (i) asset impairment and credit losses recorded in 2020 as a result of the impact of COVID-19; (ii) equity investment impairment charges recorded in the first quarter of 2020 as a result of the impact of COVID-19; (iii) currency translation losses recognized in connection with the ships that were previously chartered to Pullmantur; (iv) the estimated cash refund expected to be paid to Pullmantur guests and other expenses incurred as part of the Pullmantur S.A. reorganization ; (v) restructuring charges incurred in relation to the reduction in our U.S. workforce in 2020, the reorganization of our global sales and marketing structure and other initiatives expenses; (vi) the amortization of non-cash debt discount on our convertible notes; (vii) loss on the extinguishment of debt; (viii) the amortization of the Silversea Cruises intangible assets resulting from the 2018 Silversea Cruises acquisition; (ix) the noncontrolling interest adjustment to exclude the impact of the contractual accretion requirements associated with the put option held by Heritage Cruise Holding Ltd.'s ("Heritage") prior to the July 2020 noncontrolling interest purchase; (x)  the change in fair value in the Silversea Cruises contingent consideration; (xi) net insurance recoveries or costs related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas ; and (xii) transaction costs related to the 2018 Silversea Cruises acquisition.

Occupancy Occupancy, in accordance with cruise vacation industry practice, is calculated by dividing Passenger Cruise Days by APCD. A percentage in excess of 100% indicates that three or more passengers occupied some cabins.

Available Passenger Cruise Days ("APCD") Available Passenger Cruise Days is our measurement of capacity and represents double occupancy per cabin multiplied by the number of cruise days for the period, which excludes canceled cruise days and drydock days. We use this measure to perform capacity and rate analysis to identify our main non-capacity drivers that cause our cruise revenue and expenses to vary.

Passenger Cruise Days Passenger Cruise Days represent the number of passengers carried for the period multiplied by the number of days of their respective cruises.

For additional information see "Adjusted Measures of Financial Performance" below.

About Royal Caribbean Group Royal Caribbean Group (NYSE: RCL) is the operating business name for Royal Caribbean Cruises Ltd.   Royal Caribbean Group is the owner and operator of four global cruise vacation brands: Royal Caribbean International, Celebrity Cruises, Silversea Cruises and Azamara. Royal Caribbean Group is also a 50% owner of a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises. Together, our brands operate 61 ships with an additional 15 on order as of December 31 , 2020.  Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com .

Cautionary Statement Concerning Forward-Looking Statements Certain statements in this release relating to, among other things, our future performance estimates, forecasts and projections constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995.  These statements include, but are not limited to: statements regarding revenues, costs and financial results for 2021 and beyond.  Words such as "anticipate," "believe," "could," "driving," "estimate," "expect," "goal," "intend," "look into," "may," "plan," "project," "seek," "should," "will," "would," "considering", and similar expressions are intended to help identify forward-looking statements.  Forward-looking statements reflect management's current expectations, are based on judgments, are inherently uncertain and are subject to risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements.  Examples of these risks, uncertainties and other factors include, but are not limited to the following: the impact of the global incidence and spread of COVID-19, which has led to the temporary suspension of our operations and has had and will continue to have a material adverse impact on our business, liquidity and results of operations, or other contagious illnesses on economic conditions and the travel industry in general and the financial position and operating results of our Company in particular, such as: the current and potential additional governmental and self-imposed travel restrictions, the current and potential extension of the suspension of cruises and new additional suspensions, guest cancellations; our ability to obtain sufficient financing, capital or revenues to satisfy liquidity needs, capital expenditures, debt repayments and other financing needs; the effectiveness of the actions we have taken to improve and address our liquidity needs; the impact of the economic and geopolitical environment on key aspects of our business, such as the demand for cruises, passenger spending, and operating costs; incidents or adverse publicity concerning our ships, port facilities, land destinations and/or passengers or the cruise vacation industry in general; our ability to accurately estimate our monthly cash burn rate during the suspension of our operations; concerns over safety, health and security of guests and crew; any protocols we adopt across our fleet relating to COVID-19 , such as those recommended by the Healthy Sail Panel, may be costly and less effective than we expect in reducing the risk of infection and spread of COVID-19 on our cruise ships; further impairments of our goodwill, long-lived assets, equity investments and notes receivable; an inability to source our crew or our provisions and supplies from certain places; the incurrence of COVID-19 and other contagious diseases on our ships and an increase in concern about the risk of illness on our ships or when traveling to or from our ships, all of which reduces demand; unavailability of ports of call; growing anti-tourism sentiments and environmental concerns; changes in US foreign travel policy; the uncertainties of conducting business internationally and expanding into new markets and new ventures; our ability to recruit, develop and retain high quality personnel; changes in operating and financing costs; our indebtedness, any additional indebtedness we may incur and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; the impact of foreign currency exchange rates, interest rate and fuel price fluctuations; the settlement of conversions of our convertible notes, if any, in shares of our common stock or a combination of cash and shares of our common stock, which may result in substantial dilution for our existing shareholders; our expectation that we will not declare or pay dividends on our common stock for the near future; vacation industry competition and changes in industry capacity and overcapacity; the risks and costs associated with protecting our systems and maintaining integrity and security of our business information, as well as personal data of our guests, employees and others;  the impact of new or changing legislation and regulations or governmental orders on our business; pending or threatened litigation, investigations and enforcement actions; the effects of weather, natural disasters and seasonality on our business; emergency ship repairs, including the related lost revenue; the impact of issues at shipyards, including ship delivery delays, ship cancellations or ship construction cost increases; shipyard unavailability; the unavailability or cost of air service; and uncertainties of a foreign legal system as we are not incorporated in the United States .

In addition, many of these risks and uncertainties are currently heightened by and will continue to  be heightened by, or in the future may be heightened by, the COVID-19 pandemic. It is not possible to predict or identify all such risks.

More information about factors that could affect our operating results is included under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q, as well as our other filings with the SEC, and the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent annual report on Form 10-K, as updated by our Current Report on Form 8-K dated May 13, 2020 , copies of which may be obtained by visiting our Investor Relations website at www.rclinvestor.com or the SEC's website at www.sec.gov . Undue reliance should not be placed on the forward-looking statements in this release, which are based on information available to us on the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Adjusted Measures of Financial Performance This press release includes certain adjusted financial measures defined as non-GAAP financial measures under Securities and Exchange Commission rules, which we believe provide useful information to investors as a supplement to our consolidated financial statements, which are prepared and presented in accordance with generally accepted accounting principles, or US GAAP.

The presentation of adjusted financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with US GAAP. These measures may be different from adjusted measures used by other companies. In addition, these adjusted measures are not based on any comprehensive set of accounting rules or principles. Adjusted measures have limitations in that they do not reflect all of the amounts associated with our results of operations as do the corresponding US GAAP measures.

A reconciliation to the most comparable US GAAP measure of all adjusted financial measures included in this press release can be found in the tables included at the end of this press release.

SOURCE Royal Caribbean Group

• Favorites & Watchlist Find a Cruise Cruise Deals Cruise Ships Destinations Manage My Cruise​ FAQ Perfect Day at CocoCay Weekend Cruises Crown & Anchor Society Cruising Guides Gift Cards Contact Us Royal Caribbean Group
• Back to Main Menu
• Search Cruises " id="rciHeaderSideNavSubmenu-2-1" class="headerSidenav__link" href="/cruises" target="_self"> Search Cruises
• Cruise Deals
• Weekend Cruises
• Last Minute Cruises
• Family Cruises​
• 2024-2025 Cruises
• All Cruise Ships " id="rciHeaderSideNavSubmenu-4-1" class="headerSidenav__link" href="/cruise-ships" target="_self"> All Cruise Ships
• Cruise Dining
• Onboard Activities
• Cruise Rooms
• The Cruise Experience
• All Cruise Destinations " id="rciHeaderSideNavSubmenu-5-1" class="headerSidenav__link" href="/cruise-destinations" target="_self"> All Cruise Destinations
• Cruise Ports
• Shore Excursions
• Perfect Day at CocoCay
• Caribbean Cruises
• Bahamas Cruises​
• Alaska Cruises
• European Cruises​
• Mediterranean Cruises​
• Cruise Planner
• Make a Payment
• Beverage Packages​
• Shore Excursions​
• Dining Packages​
• Royal Gifts
• Check-In for My Cruise
• Update Guest Information
• Book a Flight
• Transportation
• Book a Hotel
• Required Travel Documents
• Redeem Cruise Credit
• All FAQs " id="rciHeaderSideNavSubmenu-7-1" class="headerSidenav__link" href="/faq" target="_self"> All FAQs
• Boarding Requirements
• Future Cruise Credit​
• Travel Documents​
• Check-in​ & Boarding Pass
• Transportation​
• Perfect Day at CocoCay​
• Post-Cruise Inquiries
• Royal Caribbean
• Celebrity Cruises

Up to $700 off

+ 60% off second guest, + kids sail free*.

CARIBBEAN CRUISES

STARTING FROM 

europe cruises

ALASKA CRUISES

FIRST-TIME CRUISER: EVERYTHING YOU NEED TO KNOW

Discover why cruising is the ultimate vacation and unlock insider tips and tricks. Start your journey now!

EXPLORE MORE

NEWEST. BOLDEST. BEST.

There are so many ways to conquer your bucket list while we await the arrival of the next Icon Class ship, Star of the Seas℠. From the game changing Oasis Class to the Icon of Vacations℠, explore our newest, best ships.

UTOPIA OF THE SEAS

PORT CANAVERAL

STAR OF THE SEAS

ICON OF THE SEAS

WONDER OF THE SEAS

ODYSSEY OF THE SEAS

FORT LAUDERDALE

SYMPHONY OF THE SEAS

CAPE LIBERTY

up to $700 off

Plus 60% off second guest and kids sail free*

{{error.text}} {{error.link.label}}

LAST CALL ON CRUISE DEALS

Score big savings on last minute cruises

GREAT CRUISES NEAR ME

You don’t have to travel far for an incredible vacation. cruise from a port near you to top-rated vacation destinations in the tropics and beyond. no matter where in the world you’re sailing from, you’ll find plenty of deals on epic itineraries sailing right from your backyard..

CRUises from

STARTING FROM

CRUISES FROM

GIVE THE GIFT OF ADVENTURE

New Gift Cards Now Available

Sign up to receive information about our special offers and deals. You can unsubscribe at any time. For more details about how we use your information, view our Privacy Policy .

THIS IS A DAY UNLIKE ANY OTHER

PERFECT DAY AT COCOCAY

TAKE ADVENTURE TO NEW HEIGHTS

Everyone deserves a vacation. you’ll find endless opportunities to make the most of every moment — like game-changing activities, world-class dining, show-stopping entertainment, and plenty of ways to unwind in the sun.

ULTIMATE WORLD CRUISE

SOUTHERN CARIBBEAN 

ALASKA WHALE WATCHING & WILDLIFE

THE MOST EXCITING CRUISE DESTINATIONS AND AWARD-WINNING SHIPS 

Unlock some of the most incredible travel destinations . Get on island time and unwind on some of the best beaches in the world, venture deep into the rainforests, and snorkel the most vibrant reefs on a Caribbean or Bahamas cruise getaway with the whole family.

Earn your wilderness badge as you cruise between the Alaska glaciers, pan for gold in prospecting towns, and trek across the rugged tundra on an Alaska vacation . And savor a burst of flavors throughout culture-rich ports in the Mediterranean , the British Isles, Scandinavia and beyond on an unforgettable cruise through Europe . No matter where in the world you choose to wander, cruises can take you deep into top-rated cruise ports and off-the-beaten-path gems, so you can experience each one like a local.

It all starts with the boldest cruise ships at sea — and ours have won awards for everything from world class dining and spectacular entertainment, to record-setting onboard thrills and groundbreaking innovation. Whether you’re traveling solo or vacationing with the whole extended family, you’ll have all kinds of ahh-inducing cruise rooms to choose from, like affordable connecting staterooms that are perfect for groups, romantic rooms for couples craving rejuvenation and relaxation, and even a thrill-filled Ultimate Family Suite with a private game room and in-suite slide.

Previewing: Promo Dashboard Campaigns

My Personas

Code: ∅.