New royal caribbean ships 20223/11/2023 It's added nine new vessels since 2019, giving it 64 ships across its various brands, and has 10 more ships on order. Royal Caribbean is preparing to meet this new era in cruising with a number of massive new ships in its fleet. Our proven formula for success is unchanged as we grow capacity and enhance profitability while seeking to deliver superior shareholder return." Setting sail for growth President and CEO Jason Liberty said, "Our brands, vacation offerings, and fleet have never been stronger and we are well positioned for continued step change in financial performance. Royal Caribbean said its booking volumes for 2023 doubled during the third quarter when compared to the second quarter, and were considerably higher than it experienced back in 2019. Well, now that the cruise industry is plying the waters again, demand for travel and tourism is booming. As we all saw, however, the industry was crushed by no-sail orders that extended far beyond virtually every other business that was allowed to reopen. Just before the pandemic, passengers had been booking voyages for 2020 at a torrid pace, the highest in the company's history. Next year in particular is looking up for the cruise ship company. Unfavorable currency exchange rates, higher fuel expenses, and increased interest rates have the cruise ship operator expecting adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $350 million to $400 million, and an adjusted loss of $1.30 per share to $1.50 per share on revenue of $2.6 billion. Unfortunately, its costs are higher too, and that's what is causing it to forecast a return to losses in the fourth quarter. So it's doing the same business, but generating more revenue. That bodes well for the future as next year Royal Caribbean is experiencing bookings well within the historical ranges it experienced before the pandemic, but at much higher prices. There were about 50% more bookings in the third quarter when compared to the same period before the COVID-19 outbreak. This means passengers are making their cruise bookings much closer to their sailing dates than they typically did before the pandemic.
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