Royal Caribbean Cruises Ltd. is one of the world's leading cruise companies, owning and operating three global cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The company also has a 50% joint venture interest in TUI Cruises, which operates the German brands TUI Cruises and Hapag-Lloyd Cruises. The company's ships offer a variety of worldwide itineraries that call on more than 1,000 destinations on all seven continents. Royal Caribbean competes by offering exceptional service, innovative ships, diverse itineraries, and a wide range of destinations and prices. The company is committed to building state-of-the-art ships and investing in fleet maintenance and upgrades.

• Employees: 98,200 (as of December 31, 2023)
• Geographic Footprint: Operates in over 120 countries
• Headquarters: Miami, Florida
• Founded: 1968
• Number of locations/facilities: Operates 64 ships
• Revenue: $13.9 billion (FY2023)
• Key Subsidiaries/Brands: Royal Caribbean International, Celebrity Cruises, Silversea Cruises, TUI Cruises, Hapag-Lloyd Cruises

• CEO: Jason T. Liberty
• CFO: Naftali Holtz
• President and CEO, Royal Caribbean International: Michael W. Bayley
• President, Celebrity Cruises: Laura Hodges Bethge
• Executive Vice President, Maritime: Harri U. Kulovaara
• Chief Legal Officer and Secretary: R. Alexander Lake

Key leaders have extensive experience in the cruise and finance industries.

• Annual Revenue: $13.9 billion (FY2023)
• Net Income: $1.7 billion (FY2023)
• Total Assets: Not explicitly stated, but total liabilities and equity is $35.1 billion (as of December 31, 2023)
• Employees: 98,200 (as of December 31, 2023)
• Key Financial Highlights: The company achieved record Net Yields and Adjusted EBITDA in 2023, and made significant progress in repaying approximately $4.0 billion of debt.

The company offers a variety of cruise vacations through its three global brands and partner brands:

• Royal Caribbean International: Cruises and land destinations that generally feature a casual ambiance, as well as a variety of activities and entertainment venues. Itineraries range from two to 18 nights.
• Celebrity Cruises: Premium segment cruises with upscale ships, excellent food and drink, elevated hospitality, world-class spaces and accommodations, and live entertainment. Itineraries range from three to 18 nights.
• Silversea Cruises: Ultra-luxury and expedition cruises with smaller ships, high standards of accommodations, fine dining, personalized service and exotic itineraries. Itineraries generally range from five to 24 nights.
• Partner Brands (TUI Cruises and Hapag-Lloyd Cruises): Contemporary and premium segments of the German cruise market.

The company operates as a single reportable segment, which includes Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. These brands share a common base in terms of products sold and services delivered, similar itineraries, and similar cost and revenue components. The company's Global Brands have historically sourced passengers from similar markets around the world and operated in similar economic environments with a significant degree of commercial overlap.

The company's mission is to deliver the best vacation experiences responsibly. Key strategies include:

• Delivering the best vacation experiences responsibly.
• Deepening customer relationships to increase booking rates.
• Focusing on cost efficiency, cash, and liquidity.
• Protecting the environment and communities.
• Investing in the workforce and promoting equality, diversity and inclusion.
• Increasing global brand awareness and market penetration.
• Strategically investing in the fleet through upgrades and new ships.
• Capitalizing on ship portability and flexibility by deploying them in optimal markets.
• Providing extraordinary destination experiences and port facilities.
• Deploying technology and advanced data analytics for customer experiences and operational efficiencies.
• Maintaining strong relationships with travel advisors and enhancing consumer outreach.

The company operates in the global cruise industry, which is considered a well-established vacation sector in North America, Europe and Australia, and a developing sector in other emerging markets. The company competes with a number of cruise lines as well as land-based vacation alternatives. Key competitors include Carnival Corporation & plc, Disney Cruise Line, MSC Cruises, and Norwegian Cruise Line Holdings Ltd. The cruise industry was served by a fleet with a weighted average of approximately 650,000 berths during 2023 with approximately 361 ships at the end of 2023. The global cruise industry carried approximately 21 million guests in 2023.

• Macroeconomic and Market Risks: Adverse economic conditions could reduce demand for cruises and passenger spending.
• Operational Risks: Operating costs could increase due to market forces and economic or geopolitical factors, and price increases for commercial airline services could impact demand.
• External Risks: Terrorist attacks, war, and similar events could have a material adverse impact on the business.
• Health Risks: Disease outbreaks and an increase in concern about the risk of illness could adversely impact the business.
• Regulatory Risks: Labor, health and safety, financial responsibility and other maritime regulations could affect operations and increase operating costs.