royal caribbean cruises ltd sustainability report

Our ESG Goals

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Emissions Reduction

Achieve net zero GHG emissions

Reduce our carbon intensity by double digits from 2019 baseline

Net-zero cruise ship

  • Began reviewing and evaluating the Science-Based Targets initiative (SBTi) Maritime Sector Decarbonization methodology published in Nov. 2022 and assessing its application in our target-setting practices
  • Implemented energy- and fuel-efficiency advancements
  • Finalized supply chains for new liquefied natural gas-powered ships
  • New shore power agreements in progress in key destinations, including Galveston and Miami
  • Continued implementing initiatives for voyage and vessel operational efficiency, underwater hull performance, and energy savings
  • Became a strategic partner in the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping
  • Joint declaration with the Finnish Government and the Meyer Turku Oy shipyard for maritime green transition
  • First Movers Commitment for green shipping corridors in Pacific Northwest
  • OceanLeaf research project for net-zero ship
  • Renewable diesel pilot in California

Early stages

Water and Wastewater Management

Increase or maintain 90% potable water production and reduce potable water bunkering in vulnerable areas

100% of fleet equipped with Advanced Wastewater Purification systems

100% of fleet equipped with IMP and USCG Certified Systems for ballast water

  • Produced 94% of freshwater used onboard 1
  • Avoided bunkering in water-stressed areas
  • 92% equipped with IMO Certified
  • 100% equipped
  • 67% equipped with USCG Certified

Waste Management

Reduce solid waste offloaded to landfill by 90% from the 2007 baseline

  • Reached 91% reduction from 2007 baseline
  • Expanded use of green hubs for recycling, reuse or energy recapture

Circular Economy

Reduce 100% of single-use plastic

  • 60% reduction
  • Launched phase three of our initiative after returning to full service

Sustainable Sourcing

Source 100% cage-free eggs globally

Source 100% of chicken for U.S. operations from Global Animal Partnership Certified suppliers

Source 100% gestation-crate-free globally

Source 90% Marine Stewardship Council (MSC) certified wild-caught seafood and source 75% Aquaculture Stewardship Council (ASC) certified farm-raised seafood.

Obtain MSC and ASC chain of custody certification for our ships

  • 52% sourced
  • 20% sourced
  • 15% sourced
  • 83% of MSC certified wild-caught seafood sourced and 75% of ASC certified farm-raised seafood sourced
  • Work conducted to develop chain of custody certification

Destination Stewardship and Community Development

Advance destination stewardship and community development through partnerships, initiatives and responsible practices

  • Held multi-stakeholder workshop to identify key areas of impact

Responsible Tourism

60% certification of RCG Global tours to CSTC standards

Support sustainable and resilient ocean communities , employee engagement and volunteering through the implementation of our Blue Green Promise SM

  • Joint work with teams to develop 2026 target
  • 39% of tours certified as of end-of-year 2022
  • Implemented cultural and historical education activities for guests with local community participation in Labadee, Haiti
  • Implemented environmental improvements supporting conservation and efficiency at Perfect Day at CocoCay and Labadee sites
  • Supported student development through mentoring programs in South Florida — including Kids and the Power of Work (KAPOW) and Big Brothers Big Sisters — and our STEM for Oceans program in the Caribbean

Diversity, Equity, and Inclusion

Form an executive DEI Council chaired by CEO

Review gender pay equity annually for all global employees, including shipboard crew

Implement program to include diverse suppliers in the procurement process and increase diverse supplier spend aligned with ESG and DEI goals

  • Council formed
  • U. S. review completed; results published

Human Rights

Publish updated human rights policy and conduct human rights impact assessments

  • Engaged with strategic partner and internal stakeholders; began developing roadmap for 2025 completion

Enterprise Risk Management

Integrate ESG risks into enterprise risk management

  • Started developing baseline of current state of risk management and evaluating ESG risk priority areas
  • Mapped climate risks to risk owners and began assessing current and emerging risks to develop action plan

Transparency

Increase auditability of ESG data and improve climate-related disclosures

  • Increased number of 3rd-party verified metrics from 2021 ESG report
  • Published TCFD report in 2023

1 For Celebrity Cruises and Royal Caribbean International only. Silversea Cruises will integrate in the near future.

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5 ways royal caribbean practices sustainability, conserving heat from engines, producing fresh water and reducing single-use plastics are just some of the initiatives that go on behind the scenes..

royal caribbean cruises ltd sustainability report

Royal Caribbean’s sustainable practices span work in ocean conservation, waste management and emissions.

Credit: Royal Caribbean

One of the many reasons to take a cruise is the opportunity to explore the natural beauty of both the oceans and destinations around the world, from the cool waters and wilderness of Alaska to the warm Caribbean Sea and its idyllic islands.

These wonders depend on the environment, which is why Royal Caribbean has spent decades protecting the destinations you visit and the communities that call them home. The best part? Your vacations can be as responsible as they are memorable.

It all started more than 30 years ago with a recycling program called Save the Waves . That’s now grown to involve partnerships with experts like World Wildlife Fund (WWF) and innovations to use, conserve and repurpose energy and reduce emissions, waste management and more. Although these efforts mostly go on behind the scenes, what you’ll find “under the hood” are many features and initiatives on both Royal Caribbean’s ships and private destinations, like Perfect Day at CocoCay ,

Read on to dive into five of Royal Caribbean’s key sustainability practices:

royal caribbean cruises ltd sustainability report

Energy is conserved with features like LED and fluorescent lights. Ships are also increasingly using liquefied natural gas (LNG), the cleanest-burning marine fuel.

From entertainment venues that span four “stages”—air, ice, theater and water—like the signature AquaTheater, where there’s high diving, slacklining, 3D flying and more, to adventures never seen before on land or at sea—like the North Star observation capsule that offers unrivaled 360-degree views of the world below—innovations run the gamut on Royal Caribbean ships . They include sustainable features, too.

When it comes to sustainability—including all the ways energy is used, conserved and repurposed—the smallest details matter. That’s why Royal Caribbean uses energy-efficient appliances, LED and fluorescent lights and an air lubrication system that allows ships to float on air. Icon of the Seas — which will be Royal Caribbean’s most sustainable ship to date when it sets sail in January 2024 —as well as Wonder and Odyssey are also all shore-power ready, meaning they can plug into local power grids, reducing emissions by replacing the need to use fuel every time they’re in town.

Icon will also be the brand’s first ship to be powered by liquefied natural gas (LNG) and fuel cell technology. LNG is considered the cleanest-burning marine fuel available and fuel cells (like a battery pack for your laptop or in your mobile phone—but a lot bigger!) generate power without producing any pollutants.

Fun fact : Royal Caribbean’s new Galveston terminal, which opened in 2022, is the world’s first to use zero energy.

royal caribbean cruises ltd sustainability report

Up to 90% of the freshwater used onboard—for drinking, showers, waterslides, pools, etc.—is produced on ships.

Water makes up 70% of the earth; it’s how you cruise from one destination to the next. It’s also used to clean, hydrate and allow guests to make a splash at the largest waterpark at sea. Thanks to desalination and reverse osmosis systems, ships can produce about 90% of the freshwater used on board all on their own. This water is used for everything from highspeed waterslides and pools for days to drinking water and shower water.

When it comes to conserving water, it’s about getting creative. Take the AC unit in your room: While it’s keeping you cool, the condensation from it is treated and repurposed to clean laundry. And Perfect Day at CocoCay  has a water specialist that uses treated water from Thrill Waterpark for the private island’s landscaping.

Fun fact: Desalination and reverse osmosis turn salt water into freshwater by removing minerals and contaminants. It’s a common process used on ships, submarines and in agriculture.

A woman swimming with a whale shark.

Royal Caribbean has reduced single-use plastics by 60% in order to protect the oceans that endangered species like sea turtles and whale sharks call home.

Around the world, waste impacts natural habitats and wildlife, including endangered sea turtles , humpback whales and more. That’s why every ship is equipped to be landfill-free. Having a long-standing partnership with Green Hub, a waste vendor program, ensures that all trash is either recycled, repurposed or sent to a waste-to-energy facility. Because of that, on average, 85% of the waste on board never reaches a landfill.

It’s also about taking a look at what’s creating that waste. Royal Caribbean has reduced single-use plastics , like straws, plastic bags, water bottles, stirrers and picks, by 60%. You’ll also notice other ongoing efforts, such as reusable silverware and glassware at restaurants . And speaking of restaurants, food waste has been reduced by 24% through the Win on Waste project, which helps ships calculate exactly how much food they’ll need through the use of both technology and a Food Operations Excellence Controller on board.

Fun fact : With partners like WWF, more programs and goals have been developed to improve the long-term health of the oceans and their wildlife. You can learn more about them here .

royal caribbean cruises ltd sustainability report

Savor freshly shucked oysters and other sustainably sourced seafood at onboard restaurants like Hooked Seafood.

Sustainable Sourcing

Before, between and after your adventures, you can break bread with your family and friends at a variety of restaurants on board. There’s something for everyone, whether you’re craving ice-cold brews and bar food with a side of friendly competition at Playmakers Sports Bar & Arcade or fresh sushi and sizzling hibachi at Izumi. Along with all those options, Royal Caribbean is also serving up sustainably sourced foods.

A key part of this initiative is sustainable seafood sourcing. The goal is to source 90% of wild-caught seafood and 75% of farmed seafood from suppliers certified by the Marine Stewardship Council and the Aquaculture Stewardship Council—a first for the cruise industry. Sustainable sourcing gives time for certain species, like tuna and salmon, to regrow their population. By already meeting the benchmark of 75% farmed seafood from the Marine Stewardship Council, this practice is leading to better-quality dishes on your table, too.

Fun fact : The Marine Stewardship Council aims to set standards for sustainable fishing. The Aquaculture Stewardship Council establishes guidelines on farmed seafood while ensuring sustainable aquaculture. 

tourists at the Juneau glacier in Alaska

Eco-friendly shore excursions allow you to see a variety of natural sites, sustainably. Think: green Caribbean jungles, pristine Alaskan glaciers and more.

Sustainable Tourism

On a cruise, you can set your sights on exploring multiple distant beaches, natural reserves, metropolitan city centers and far-flung destinations —all in one vacation. A great trip, whether you’re exploring a remote island or trying out a new cuisine, is all about the environment, and as visitors, it’s important to protect the varied nature and rich cultures we’re delving into.

Royal Caribbean set a goal to offer more than 1,000 shore excursions around the world that are certified by the Global Sustainable Tourism Council (GSTC) by 2020. That means the shore excursions are one-of-a-kind while also remaining respectful of the local culture and surroundings. Today, more than 3,500 Royal Caribbean excursions are GSTC-certified.

Want to learn more? Every year, Royal Caribbean releases an annual sustainability report , which shares its accomplishments and principles, initiatives and goals for the future.

Explore the Royal Caribbean cruises and the beautiful destinations you can experience here .

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April 20, 2023

Cruising toward a better future, royal caribbean group outlines progress in annual seastainability report.

Expanding on 15 years of sustainability reporting, the company also releases its first Task Force on Climate-Related Financial Disclosures Report MIAMI, April 20, 2023 – Royal Caribbean Group (NYSE: RCL) released its 15th annual Seastainability Report today, providing an in-depth update on the company’s corporate responsibility strategy and performance across its three wholly owned brands – Royal Caribbean International, Celebrity Cruises and Silversea Cruises.

2022 marked a watershed moment in the company’s advancement of Environmental, Social and Governance (ESG) efforts. Defining events include the 30th anniversary of the company’s first environmental program, Save the Waves, and the publication of the first Task Force on Climate-Related Financial Disclosures (TCFD) report, published with the 2022 Seastainability Report.

“As we advance on our sustainability journey, our strategic priorities remain rooted in creating business value and uplifting our employees, guests and the communities we visit,” said Jason Liberty, president and CEO, Royal Caribbean Group. “Through collaboration and innovation, we continue to make great strides on our commitment of delivering great vacation experiences responsibly.”

The targets and strategies laid out in the annual report highlight Royal Caribbean Group’s progress to reduce emissions, promote the safety and wellbeing of its guests and employees, including its commitments to sustainable tourism, protecting the oceans it sails and inspiring and empowering the communities it visits. Highlights from the report include:

  • Setting a short-term target to reduce carbon intensity by double digits by 2025 , compared to 2019, that advances the company’s vision for net zero emissions by 2050 — Destination Net Zero
  • Signing a partnership agreement with Mærsk McKinney Møller Center for Zero Carbon Shipping to develop zero carbon technologies and solutions for the maritime industry 
  • Completing the first renewable diesel pilot in the U.S. on Royal Caribbean Group’s Navigator of the Seas
  • Introducing the world's first net-zero cruise terminal in Galveston, Texas, extending the company’s efforts and strategies from its ships to its shoreside operations
  • Creating a new Executive Diversity Council to prioritize DEI (Diversity, Equity and Inclusion) initiatives and create accountability, empowering and inspiring employees 
  • Confirming U.S. shoreside gender pay equity analysis shows that 99.98% of women are equally compensated compared to male employees at Royal Caribbean Group
  • Launching the Royal Caribbean Kickstarter Program supporting tourism related entrepreneurs in The Bahamas with trainings and seed-funding, empowering the communities the company visits
  • Growing the number of sustainable tours certified by the Global Sustainable Tourism Council (GSTC) – now more than 3,500 around the world
  • Increasing its  sustainable seafood sourcing – 83% Marine Stewardship Council (MSC) and 75% Aquaculture Stewardship Council (ASC) certified
  • Renewing its partnership with World Wildlife Fund   (WWF) and committing an additional $5 million to preserve ocean health

The report references the guidelines of the Global Reporting Initiative (GRI) and is aligned with the Sustainability Accounting Standards Board (SASB) standards for Cruise Lines.

With a sustainability journey that began over 30 years ago, Royal Caribbean Group has remained steadfast in its commitment to innovate and advance the solutions necessary for a better future. Building on a robust portfolio of technologies that improve energy efficiency, water treatment, and waste management, it has worked to introduce environmentally friendly ships that move the company closer to achieving Destinations Net Zero, the company’s vision for net zero emissions by 2050.

Visit www.royalcaribbeangroup.com/sustainability to dive deeper into Royal Caribbean Group's 2022 Seastainability Report and learn more about the company's positive impact activities.  Media Contact:

Janet Diaz [email protected]

About Royal Caribbean Group Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 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 10 ships on order as of December 31, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com .

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Royal Caribbean’s 2020 Sustainability Report

Royal caribbean’s 2020 sustainability report highlights commitment to continuous progress.

royal caribbean cruises ltd sustainability report

Royal Caribbean and Certified Tour Operators

Over 2,000 sustainable shore excursions are now offered across the RCG fleet, far surpassing their initial goal of 1,000 by 2020 . The tour operators offering these tours are certified to the GSTC Criteria . Tour operators participated in several capacity-building sessions that introduced the importance of sustainability and certification through GSTC-Accredited Certification Bodies . The sessions included webinars, one-on-one information sessions and presentations at key industry events.

Royal Caribbean Group has completed GSTC Destination Assessments in CocoCay and Labadee. They aim to have their private destinations certified to the GSTC Destination Criteria by 2022. RCG also helped support GSTC Destination Assessments in Cozumel, Mexico; Roatán, Honduras and Belize .

Read the full report

The sustainability report is organized into four main sections that convey RCG’s approach to sustainability. The sections – Purpose, Places, People and Reporting – highlight their most compelling stories that exemplify their drive to innovate and think beyond the here and now.

The sustainability report includes in-depth background information, including their Global Reporting Initiative (GRI) Index, 2020 Performance Tables and the Methodology used, which was updated to reflect current trends and priorities.

Additionally, RCG aligned their performance data table with the recommendations of the Sustainable Accounting Standards Board (SASB).

Royal Caribbean Group is committed to transparently reporting ongoing progress and invites you to visit www.royalcaribbeangroup.com periodically for updates throughout the year.

Royal Caribbean Group’s 2020 ‘Seastainability’ Report (September, 2021)

Become a Certified Sustainable Tour Operator

Sustainability certification (also known as an eco-label) for tour operators is a voluntary, third-party assessment through an audit to ensure compliance with sustainable tourism standards. GSTC does not conduct certification. Global Certification Bodies (CB) conduct certification, while GSTC acts as the international body for sustainable tourism certification.

Tour operators certified by a GSTC-Accredited CB can use the GSTC logo along with the CB’s mark. The logos are also shared with OTAs and other buyers of tours.

Learn more about how to become certified as a sustainable tour operator .

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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 more than 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. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com .

Sustainability Report

Safeguarding and Protecting the World’s Oceans and Destinations we Operate, and the Health and Well-Being of our Guests and Crew Members.

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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.

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Royal Caribbean Reroutes World Cruise After Onboard Vote

  • February 29, 2024

Serenade of the Seas

Royal Caribbean International is rerouting its Ultimate World Cruise to avoid the Red Sea region.

After an onboard vote, the company confirmed that the Serenade of the Seas is now taking an alternative itinerary around Africa.

With 18 ports of call in Africa and Europe, the new route includes exotic destinations, such as the Seychelles, Madagascar and Mauritius, Royal Caribbean said.

Sailing from Dubai to Italy via South Africa, the 43-night segment of the Ultimate World Cruise takes place between May 9 and June 20, 2024.

Passengers had five days to vote for their preferred option via a unique onboard voting process that started in late February.

“We have all been closely monitoring the unrest in the Red Sea and were hopeful everything would settle down,” Royal Caribbean’s President and CEO Michael Bayley said in a statement that presented guests with voting options and alternative itineraries.

“However, as we are approximately 90-days away from the he impacted itinerary, we would like to present various options for your consideration, as we need to prepare and arrange logistics,” he continued.

With a spirit of adventure in mind, Bayley noted, Royal Caribbean presented two options of alternative itineraries sailing around Africa.

The second option featured more days at sea and less ports of call but added more destinations in the Mediterranean, including Turkey, Egypt, Greece and Italy.

While not what not the itinerary expected by guests, the chosen alternative will mark the first time Royal Caribbean International visits Africa, Bayley added.

Passengers will receive a 25 percent pro-rated refund of the segment cruise fare in the form of a refundable onboard credit, the statement said.

Guests also have the option of debarking the Serenade during this portion of the journey and receiving a pro-rated refund for their days off the ship.

The Ultimate World Cruise departed Miami in early December for a 274-night journey across different parts of the globe.

The original itinerary featured over 150 ports of call in 60 countries and seven continents, including Antarctica, Asia, South America, and Europe.

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Royal caribbean group reports 2022 results and provides forward guidance.

MIAMI – February 7, 2023 – Royal Caribbean Group (NYSE: RCL) today reported fourth quarter 2022 Loss per Share of $(1.96) and Adjusted Loss per Share of $(1.12). These results exceeded the company's guidance due to better pricing on close-in demand, strong onboard spend, favorable timing of operating costs, and lower interest expense.

“2022 was a pivotal year as we successfully returned our business to full operations and delivered memorable vacation experiences to 6 million guests," said Jason Liberty, president and chief executive officer, Royal Caribbean Group. "We also returned to positive Adjusted EBITDA and Operating Cash Flow by consistently growing revenue and controlling costs. Our teams have worked tirelessly to deliver the best vacation experiences, responsibly, and we are grateful for their extraordinary efforts.” 

“We are experiencing a record-breaking WAVE season, resulting in a booked position approaching previous record highs and at higher prices. This, along with the normalization of our booking window, provides the visibility for us to provide annual guidance, which is in line with our Trifecta program," added Liberty. "The combination of our industry-leading global brands, most innovative fleet, nimble sourcing and our continued focus on profitability positions us well to deliver record Yields and Adjusted EBITDA in 2023."

Financial Highlights & Outlook

Fourth Quarter 2022: 

  • Load Factors were in line with guidance at 95%, with Caribbean sailings reaching 100%, and holiday sailings close to 110%.
  • Total revenues per passenger cruise day were up 3.5% as-reported and 4.5% in Constant Currency, compared to the fourth quarter of 2019.
  • Total revenues were $2.6 billion, Net Loss was $(500.2) million or $(1.96) per share, Adjusted Net Loss was $(284.9) million or $(1.12) per share, and Adjusted EBITDA was $409.3 million. 

Full Year 2022: 

  • Load Factors were 85% overall, full fleet back in operation since June of 2022.
  • Total revenues were $8.8 billion, Net Loss was $(2.2) billion or $(8.45) per share, Adjusted Net Loss was $(1.9) billion or $(7.50) per share, and Adjusted EBITDA was $711.6 million. 

Full Year 2023 Outlook:

  • The company is experiencing a record-breaking WAVE season, driven by strong demand. The seven biggest booking weeks in the company's history have occurred since the last earnings call in November 2022.
  • 2023 cumulative booked position remains well within historical ranges for all quarters and at record rates. North America based itineraries are booked in line with 2019 for the full year, and ahead for the second quarter through the fourth quarter.
  • Net Yields are expected to increase 5% to 4.5% in both as-reported and in Constant Currency versus 2019. Net Yields are expected to ramp up as load factors reach historical levels by late spring. 
  • The company continues to successfully manage costs in a complicated environment with Net Cruise Costs (NCC), excluding Fuel, per APCD expected to increase 4.5% to 5.5% as-reported and 4.75% to 5.75% in Constant Currency compared to 2019, a three year old benchmark, and include approximately 210 basis points from lingering transitional costs (e.g. crew movement) and additional structural costs (e.g. full year operations of Perfect Day at CocoCay and the new Galveston terminal). 
  • The company expects to exceed prior record Adjusted EBITDA, achieved in 2019.
  • The company expects Adjusted Earnings per Share in the range of $3.00 to $3.60.

First Quarter 2023 Outlook:

  • Net Yields are expected to increase 0.5% to 1.5% as-reported and 1% to 2% in Constant Currency compared to 2019, with load factors reaching 100% and total revenues per passenger cruise day up in the mid to high single digit range in both as-reported and Constant Currency compared to 2019.
  • NCC, excluding Fuel, per APCD is expected to increase approximately 8.3% as-reported and approximately 8.5% in Constant Currency, compared to 2019, including 320 basis points of lagging transitional costs, additional structural costs, and timing of expenses.
  • Adjusted Loss per Share is expected to be in the range of ($0.65) – ($0.85).

   

Fourth Quarter 2022 results

The company reported Net Loss for the fourth quarter of 2022 of $(0.5) billion or $(1.96) per share compared to Net Loss of $(1.4) billion or $(5.33) per share for the same period in the prior year. Adjusted Net Loss was $(0.3) billion or $(1.12) per share for the fourth quarter of 2022 compared to Adjusted Net Loss of $(1.2) billion or $(4.78) per share for the same period in the prior year.  

Fourth quarter Load Factors were in line with guidance at 95%, with Caribbean sailings reaching 100%. Total revenues per passenger cruise day were up 3.5% as-reported and 4.5% in Constant Currency versus the fourth quarter of 2019 due to strong pricing on close-in demand and continued strength in onboard revenues.

Gross Cruise Costs per APCD increased 4.9% as reported and 5.8% in Constant Currency, compared to the fourth quarter of 2019. NCC, excluding Fuel, per APCD increased 3.9% as reported and 4.7% in Constant Currency, compared to the fourth quarter of 2019. Gross Cruise Costs per APCD and NCC, excluding Fuel, per APCD for the fourth quarter included $1.23 per APCD related to health protocols and one-time lagging costs related to fleet ramp-up. The Group expects transitory costs related to health protocols and ramp-up of operations to be largely gone in 2023 as the majority of crew have returned and protocols have eased. In the fourth quarter, the company continued to benefit from multiple actions taken to reshape its cost structure and to help partially offset inflationary and supply chain challenges.

"Fourth quarter results reflect the continued strong demand for our vacation experiences and our teams' ability to manage costs in a complicated environment while staying focused on delivering the best vacation experiences expected by our guests," said Naftali Holtz, chief financial officer, Royal Caribbean Group. "The benefit from multiple actions we have taken during the last few years to improve margins continue to yield results, as we focus on executing our proven formula of moderate yield growth and strong cost controls."

The company recorded a loss contingency of $130 million in the fourth quarter related to a Helms-Burton Act claim which the company continues to vigorously defend.

Full Year 2022 results

For the full year, the company reported Net Loss of $(2.2) billion or $(8.45) per share compared to Net Loss of $(5.3) billion or $(20.89) per share in the prior year. The company also reported Adjusted Net Loss of $(1.9) billion or $(7.50) per share for the full year 2022 compared to Adjusted Net Loss of $(4.8) billion or $(19.19) per share in the prior year.

Update on Bookings

The company is very encouraged about the demand environment for 2023. Booking volumes in the fourth quarter were significantly higher than the corresponding period in 2019, culminating in record booking weeks for the Group for both Black Friday and Cyber Monday.  Momentum continues into early 2023 and the company is experiencing a recordbreaking WAVE season. Overall, the seven biggest booking weeks in the company's history have occurred since the middle of November 2022, including the first five weeks of WAVE. The booking window has continued to move back to normal, providing further confidence in forward looking business, as guests plan for the future. Consumer spending onboard and pre-cruise purchases continue to exceed prior years driven by greater participation at higher prices, indicating quality and healthy future demand.  

The cumulative booked position remains well within historical ranges at record rates and has improved significantly since November. North America sailings, many of which visit Perfect Day at CocoCay, are leading the way and are booked in line with record 2019 levels for the full year and ahead for the second quarter through the fourth quarter. Bookings for European itineraries have been accelerating during WAVE and are now higher than 2019.

“Leisure travel strength continues as consumer spend is shifting towards experiences, with cruising remaining an attractive value proposition," said Liberty. "The quality demand trends further exhibit the strength of our brands and the growing propensity to cruise." 

As of December 31, 2022, the Group’s customer deposit balance was at a record $4.2 billion.  

Fuel Expense

Bunker pricing, net of hedging, for the fourth quarter was $694 per metric ton and consumption was 422,000 metric tons.    

The company does not forecast fuel prices and its fuel cost calculations are based on current at-the-pump prices, net of hedging impacts.  Based on today's fuel prices, the company has included $294 million of fuel expense in its first quarter guidance at a forecasted consumption of 412,500 which is 57% hedged via swaps. Forecasted consumption is 55% hedged via swaps for full year 2023 and is 10% hedged via swaps for 2024. The annual average cost per metric ton of the hedge portfolio is approximately $583 for 2023 and $826 for 2024. The higher average hedged cost in 2024 is driven primarily by the hedged fuel mix, with 2024 currently hedged with MGO swaps, while 2023 is hedged  fairly evenly between MGO and IFO swaps.

The company provided the following guidance for the first quarter and full year 2023:  

Exchange rates used in guidance calculations  

GBP                                                                              $1.23                 

AUD                                                                              $0.71                 

CAD                                                                              $0.75                 

EUR                                                                              $1.12                 

Liquidity and Financing Arrangements

As of December 31, 2022, the Group’s liquidity position was $2.9 billion, which includes cash and cash equivalents, undrawn revolving credit facility capacity, and a $700 million commitment for a 364-day term loan facility. 

During the fourth quarter, the company repaid $0.6 billion of debt maturities and closed on the refinancing of $2.0 billion of secured and guaranteed debt previously due June 2023.  Additionally, in January 2023, the company extended $2.3 billion of its existing revolving credit facility commitment to April 2025. 

The company noted that as of December 31, 2022, and taking into effect the extension of the credit facilities, the scheduled debt maturities for 2023, 2024, 2025 and 2026 were $2.1 billion, $2.6 billion, $5.7 billion and $2.8 billion, respectively.  Approximately 75% of the company's debt is tied to fixed interest rates. 

Capital Expenditures and Capacity Guidance

Capital expenditures for the full year 2023 are expected to be approximately $4.1 billion, based on current foreign exchange rates and are predominantly related to the company's new ship order book. The company expects to take delivery of three new ships in 2023 including Icon of the Seas , Celebrity Ascent and Silver Nova . All ship orders have committed financing in place. Non-new ship related capital expenditures are expected to be $0.5 billion. Capacity changes for 2023 is expected to be 14% compared to 2019. Capacity changes for 2024, 2025, 2026 are expected to be 10%, 5%, and 6%, respectively. These figures do not include potential ship sales or additions that the company may elect in the future. 

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 EBITDA is a non-GAAP measure that represents EBITDA (as defined below) excluding certain items that we believe adjusting for is meaningful when assessing our profitability on a comparative basis. For the 2022 and 2021 periods, these items included (i) other expenses, which includes the estimate of amounts payable in connection with ongoing Havana Docks litigation recorded in 2022; (ii) impairment and credit losses (recoveries); (iii) restructuring charges and other initiative expenses; (iv) equity investment asset impairments; (v) net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas ; (vi) Pullmantur reorganization settlement; and (vii) the net gain recognized in 2021 in relation to the sale of the Azamara brand. 

Adjusted Net Income (Loss) is a non-GAAP measure that represents net income (loss) excluding certain items that we believe adjusting for is meaningful when assessing our performance on a comparative basis. For the 2022 and 2021 periods presented, these items included (i) gain or loss on the extinguishment of debt; (ii) the amortization of non-cash debt discount on our convertible notes; (iii) the estimated cash refunds expected to be paid to Pullmantur guests as part of the Pullmantur S.A. reorganization in 2020; (iv) impairment and credit losses; (v) equity investment asset impairments; (vi) net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas; (vii) restructuring charges and other initiative expenses; (viii) the amortization of the Silversea Cruises intangible assets resulting from the Silversea Cruises acquisition in 2018; (ix) the net gain recognized in 2021 in relation to the sale of the Azamara brand; (x) the net loss recognized in the fourth quarter of 2021 related to the elimination of the three-month reporting lag for Silversea Cruises; and (xi) the estimated amounts that may be payable in relation to the ongoing Havana Docks litigation.

Adjusted Earnings (Loss) per Share ("Adjusted EPS") is a non-GAAP measure that represents Adjusted Net Income (Loss) (as defined below) 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.  

Available Passenger Cruise Days (“APCD”) 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 cabins not available for sale. 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.

Constant Currency is a significant measure for our revenues and expenses, which are denominated in currencies other than the U.S. Dollar.  Because our reporting currency is the U.S. Dollar, the value of these revenues and expenses in U.S. Dollar will be affected by changes in currency exchange rates. Although such changes in local currency prices are just one of many elements impacting our revenues and expenses, it can be an important element. For this reason, we also monitor our revenues and expenses in "Constant Currency" - i.e., as if the current period's currency exchange rates had remained constant with the comparable prior period's rates. For the 2022 periods presented, we calculate "Constant Currency" by applying the average 2019 or Q3 2022 period exchange rates for each of the corresponding months of the reported and/or forecasted period, so as to calculate what the results would have been had exchange rates been the same throughout both periods. We do not make predictions about future exchange rates and use current exchange rates for calculations of future periods. It should be emphasized that the use of Constant Currency is primarily used by us for comparing short-term changes and/or projections. Over the longer term, changes in guest sourcing and shifting the amount of purchases between currencies can significantly change the impact of the purely currencybased fluctuations.

EBITDA  is a non-GAAP measure that represents net income (loss) excluding (i) interest income; (ii) interest expense, net of interest capitalized; (iii) depreciation and amortization expenses; and (iv) income tax benefit or expense. We believe that this non-GAAP measure is meaningful when assessing our operating performance on a comparative basis. 

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

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

Gross Cruise Costs represent the sum of total cruise operating expenses plus marketing, selling and administrative expenses.

Net Cruise Costs (“NCC”) and NCC excluding Fuel are non-GAAP measures that represent Gross Cruise Costs excluding commissions, transportation and other expenses and onboard and other expenses and, in the case of Net Cruise Costs excluding Fuel, fuel expenses. For the 2022 and 2019 periods presented, Net Cruise Costs and Net Cruise Costs excluding Fuel exclude (i) restructuring charges and other initiative expenses; (ii) the transaction and integration costs related to the Silversea Cruises acquisition; and (iii) the costs, net of insurance recoveries, related to the Grand Bahama drydock structure incident involving Oasis of the Seas . In measuring our ability to control costs in a manner that positively impacts net income, we believe changes in Net Cruise Costs and Net Cruise Costs excluding Fuel to be the most relevant indicators of our performance. 

Gross Margin Yield represent Gross Margin per APCD.

Adjusted Gross Margin represent Gross Margin, adjusted for payroll and related, fuel, food, other operating expenses, and depreciation and amortization. Gross Margin is calculated pursuant to GAAP as total revenues less total cruise operating expenses, and depreciation and amortization.

Net Yields represent Adjusted Gross Margin per APCD. We utilize Adjusted Gross Margin and Net Yields to manage our business on a day-to-day basis as we believe that they are the most relevant measures of our pricing performance because they reflect the cruise revenues earned by us net of our most significant variable costs, which are commissions, transportation and other expenses, and onboard and other expenses.

For additional information see “Adjusted Measures of Financial Performance” below.  

About Royal Caribbean Group

Royal Caribbean Group (NYSE: RCL) is one of the leading cruise companies in the world with a global fleet of 64 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 10 ships on order as of December 31, 2022. Learn more at www.royalcaribbeangroup.com or www.rclinvestor.com .

Cautionary Statement Concerning Forward-Looking Statements

Certain statements in this press 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 2023 and beyond, and expectations regarding credit profile. 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 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: governmental and self-imposed travel restrictions and 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; an increase in concern about the risk of illness on our ships or when travelling to or from our 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; 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; the impact of foreign currency exchange rates, the impact of higher interest rate and food and fuel prices; 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 related to cyber security attacks, data breaches, 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 (including environmental 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; 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.

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, 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 U.S. 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 U.S. 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 U.S. GAAP measures.

A reconciliation to the most comparable U.S. 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. We have not provided a quantitative reconciliation of the projected nonGAAP financial measures to the most comparable GAAP financial measures because preparation of meaningful U.S. GAAP projections would require unreasonable effort. Due to significant uncertainty, we are unable to predict, without unreasonable effort, the future movement of foreign exchange rates, fuel prices and interest rates inclusive of our related hedging programs. In addition, we are unable to determine the future impact of non-core business related gains and losses which may result from strategic initiatives. These items are uncertain and could be material to our results of operations in accordance with U.S. GAAP. Due to this uncertainty, we do not believe that reconciling information for such projected figures would be meaningful.

(1) Due to the elimination of the Silversea Cruises three-month reporting lag in October of 2021, we include Silversea Cruises' statistics from October 1 through December 31, 2021 in the quarter ended December 31, 2021, and from October 1, 2020 through June 30, 2021 and October 1 through December 31, 2021 in the year ended December 31, 2021. The year ended December 31, 2021 does not include July, August, and September 2021 statistics as Silversea Cruises' results of operations for those months are included within Other (expense) income in our consolidated statements of comprehensive loss for the quarter and year ended December 31, 2021.

(1)   Included within Marketing, selling and administrative expenses in our consolidated statements of comprehensive loss.

(1) Included within Marketing, selling and administrative expenses in our consolidated statements of comprehensive loss.

(1)  Included within Other income (expense) in our consolidated statements of comprehensive loss.

(2) Represents net non-operating income or expense. For 2022, primarily relates to our estimate of amounts that may be payable in connection with the ongoing Havana Docks litigation plus related legal fees and costs. Excludes income tax (benefit) expense, included in the EBITDA calculation above.

(3) Represents equity investment asset impairment, primarily for our investments in TUI Cruises GmbH in 2021 as a result of the impact of COVID-19.

(4) Represents net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas.

(5)   Represents estimated cash refunds expected to be paid to Pullmantur guests and other expenses incurred as part of the Pullmantur S.A. reorganization.

(1)  Included within Other income (expense) in our consolidated statements of comprehensive income (loss).

(2) Excludes income tax expense, included in the EBITDA calculation above.

(3) Represents incidental costs, net of insurance recoveries, related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas.

(4) Adjustment made to exclude the impact of the contractual accretion requirements associated with the put option held by Heritage Cruise Holding Ltd.'s (previously known as Silversea Cruises Group Ltd.) noncontrolling interest, which noncontrolling interest we acquired on July 9, 2020.

(1)  Represents the amortization of non-cash debt discount on our convertible notes.

(2) Represents estimated cash refunds expected to be paid to Pullmantur guests and other expenses incurred as part of the Pullmantur S.A. reorganization.

(3) Represents equity investment asset impairment, primarily for our investments in TUI Cruises GmbH in 2021 as a result of the impact of COVID-19

(4) Amounts include net insurance recoveries related to the collapse of the drydock structure at the Grand Bahama Shipyard involving Oasis of the Seas .

(5)   Represents the net loss related to the elimination of the Silversea Cruises reporting lag in 2021.

(6)   Represents our estimate of amounts that may be payable in connection with the ongoing Havana Docks litigation plus related legal fees and costs.

IMAGES

  1. Royal Caribbean Releases New Sustainability Report

    royal caribbean cruises ltd sustainability report

  2. Royal Caribbean’s 2020 Sustainability Report

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  3. Royal Caribbean’s 2021 Sustainability Report

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  4. Royal Caribbean "Seastainability" Report Shows It Met or Exceeded

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  5. Royal Caribbean aims to cut carbon emissions further 25% by 2025

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  6. Heading to Zero Landfill: Royal Caribbean Cruises Ltd's New

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COMMENTS

  1. Seastainability®

    We're committed to decarbonization through innovation, collaborative partnerships and a transition to cleaner fuels, smarter technologies and improved energy efficiencies. Set a short-term target to reduce carbon intensity by double digits by 2025 as part of our Destination Net Zero journey. Introduced the Blue Green Promise℠ to support ...

  2. Sustainability

    Going above and beyond sustainability compliance is critical for the success of our business and our planet. At Royal Caribbean Group, we are changing the cruise industry and holding ourselves to a higher standard. Certain statements in this release relating to, among other things, our future performance estimates, forecasts and projections ...

  3. Royal Caribbean Group releases 2021 sustainability report

    Some additional statistics released in Royal Caribbean's report include: "We reduced our waste-to-landfill by 87% from 2007 to 2021.". "We eliminated single-use plastic condiment packages, cutlery, and shopping bags. We've now reduces our single-use plastics by 60% since the beginning of the initiative.".

  4. Royal Caribbean Group Releases 2020 "Seastainability" Report

    Wednesday, September 22, 2021. MIAMI - September 22, 2021 - Today Royal Caribbean Group (NYSE: RCL) published its 13th annual sustainability report, providing a comprehensive update on the company's sustainability efforts. In particular, the 2020 report documents that the company has met or exceeded nearly all of its 2020 sustainability ...

  5. Royal Caribbean Group Unveils 2021 Seastainability Report

    MIAMI - May 13, 2022 - Today Royal Caribbean Group (NYSE: RCL) released its 14th annual sustainability report, providing a comprehensive update on the company's Environmental, Social and Governance (ESG) framework and activities across its three wholly owned brands: Royal Caribbean International, Celebrity Cruises and Silversea Cruises. New for 2021, Royal Caribbean Group revamped its ESG ...

  6. Royal Caribbean Group outlines sustainability progress

    On April 20, Royal Caribbean Group released their 15th annual Seastainability Report, which provides an in-depth update on the the company's corporate responsibility strategy and performance across their three fully owned brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. "As we advance on our sustainability ...

  7. Royal Caribbean Group Releases 2020 "Seastainability" Report

    22 Sep, 2021, 07:15 ET. MIAMI, Sept. 22, 2021 /PRNewswire/ -- Today Royal Caribbean Group (NYSE: RCL) published its 13th annual sustainability report, providing a comprehensive update on the ...

  8. Cruising Toward a Better Future, Royal Caribbean Group Outlines

    MIAMI, April 20, 2023 - Royal Caribbean Group (NYSE: RCL) released its 15 th annual Seastainability Report today, providing an in-depth update on the company's corporate responsibility strategy and performance across its three wholly owned brands - Royal Caribbean International, Celebrity Cruises and Silversea Cruises.. 2022 marked a watershed moment in the company's advancement of ...

  9. Our ESG Goals

    60% certification of RCG Global tours to CSTC standards. Support sustainable and resilient ocean communities, employee engagement and volunteering through the implementation of our Blue Green Promise SM. 2026. 2024. Joint work with teams to develop 2026 target. 39% of tours certified as of end-of-year 2022. Implemented cultural and historical ...

  10. 5 Ways Royal Caribbean Practices Sustainability

    Want to learn more? Every year, Royal Caribbean releases an annual sustainability report, ... Explore the Royal Caribbean cruises and the beautiful destinations you can experience here. Popular Now. Ships 2023-11-17T15:35:09-04:00 November 17, 2023 2023-11-17T22:27:57-04:00 November 17, ...

  11. Royal Caribbean Group Releases 2020 Seastainability Report

    September 22, 2021. Royal Caribbean Group has published its 13th annual sustainability report, providing am update on the company's sustainability efforts. In particular, the 2020 report documents that the company has met or exceeded nearly all of its 2020 sustainability targets. "We believe that what gets measured gets better.

  12. Royal Caribbean Group Outlines Progress in Annual Seastainability Report

    Expanding on 15 years of sustainability reporting, the company also releases its first Task Force on Climate-Related Financial Disclosures Report MIAMI, April 20, 2023 - Royal Caribbean Group (NYSE: RCL) released its 15th annual Seastainability Report today, providing an in-depth update on the company's corporate responsibility strategy and performance across its three wholly owned brands ...

  13. Royal Caribbean Group Unveils 2021 Seastainability Report

    The release of the 2021 Seastainability Report follows the recent announcement that Royal Caribbean Group has committed to another five-year partnership with World Wildlife Fund (WWF). A flagship ...

  14. Royal Caribbean Highlights Progress in Sustainability Report

    Yesterday, April 20th, Royal Caribbean Group issued its 15th annual " seastainability " (a play on the word "sustainability") report. The report offers an overview of the corporation's ...

  15. Cruising Toward a Better Future, Royal Caribbean Group Outlines

    MIAMI, April 20, 2023 /PRNewswire/ -- Royal Caribbean Group (NYSE: RCL) released its 15 th annual Seastainability Report today, providing an in-depth update on the company's corporate ...

  16. Royal Caribbean's 2020 Sustainability Report

    The 2020 'Seastainability' Report highlights Royal Caribbean Group (RCG)'s commitment to a continuous pursuit of progress. Cruise ships are cleaner, improving with each new class of ships. RCG's sustainability targets focus on energy consumption reduction, emissions purification, sustainable tours and destinations, sustainable sourcing ...

  17. Royal Caribbean releases new sustainability report

    Royal Caribbean Cruises Ltd. released today its Sustainability Report, which documents the Company's commitment to environmental stewardship and showcases improved efficiencies across its fleet. In the report, the company noted the expansion of its Advanced Emissions Purification program, as well as a new set of goals for the year 2020 that ...

  18. Royal Caribbean Group Announces "Destination Net Zero"

    Royal Caribbean Group's Destination Net Zero builds on decades of progress and a deep sense of responsibility to embed sustainability throughout the organization. Over 18 to 24 months, the cruise company will develop goals to be validated by the Science Based Targets initiative (SBTi), the first such pledge for the cruise industry.

  19. Royal Caribbean Celebrates 30 Years of Sustainability Commitment

    30 Years of Save the Waves. Royal Caribbean Group is celebrating 30 years of its first environmental initiative, Save the Waves, during the month of November 2022. The program has assisted the ...

  20. Royal Caribbean Releases New Sustainability Report

    Royal Caribbean Cruises today released a new sustainability report, which it said "documents the Company's commitment to environmental stewardship and showcases improved efficiencies across its fleet." ... Royal Caribbean Cruises Ltd. "We bring 5,000,000 guests to nearly 500 ports around the world every year, and we understand our ...

  21. Royal Caribbean Group announces pledge to get to net zero emissions by

    Royal Caribbean Group announced on Wednesday a new initiative to make its cruise ships as eco-friendly as possible by reducing net zero emissions by 2050. "Destination Net Zero" is the name of the new program that the company is calling its collective effort. There are two primary objectives in its pledge to pursue science-based targets: A ...

  22. Royal Caribbean Cruises (RCL) Earnings Date and Reports 2024

    Its quarterly revenue was up 28.0% on a year-over-year basis. Royal Caribbean Cruises has generated $6.22 earnings per share over the last year ($6.22 diluted earnings per share) and currently has a price-to-earnings ratio of 20.2. Earnings for Royal Caribbean Cruises are expected to grow by 15.69% in the coming year, from $10.07 to $11.65 per ...

  23. Royal Caribbean Cruises Ltd.

    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. Learn ...

  24. Royal Caribbean Reroutes World Cruise After Onboard Vote

    Royal Caribbean International is rerouting its Ultimate World Cruise to avoid the Red Sea region. After an onboard vote, the company confirmed that the Serenade of the Seas is now taking an alternative itinerary around Africa. With 18 ports of call in Africa and Europe, the new route includes exotic…

  25. Royal Caribbean Group Reports 2022 Results and Provides Forward

    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 10 ships on order as of December 31, 2022.