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This statistic highlights Royal Caribbean Cruises’ Number of Passengers Carried, reported annually from 2013 onwards.
Royal Caribbean Cruises are specialized in providing travel services and a splendid variety of onboard activities. The company operates 4 of the world’s largest passenger ships with a total of 25 ships and 5 additional ships on order. The following table highlights Royal Caribbean Cruises’ number of Passengers Carried for years 2017, 2018, 2019, and 2020.
The number of passengers carried by the company increased by 13.61% between 2017 and 2019, up from 57,68,496 passengers in 2017 to 65,53,865 passengers in 2019. However, the number of passengers decreased drastically by 80% in the year 2020 to 12,95,144 because of the novel coronavirus (“COVID-19”) outbreak. This period between 2020-2021 witnessed the highest fall in the number of passengers being carried.
In March 2020, the company has voluntarily suspended all global cruise operations with immediate effect in response to the COVID-19 outbreak. This resulted in the drastic fall of passengers and revenue generation. The company restarted the global cruise operations in a phased manner by following all the regulations of reduced guest occupancy, modified itineraries, and more enhanced health, safety, and vaccination guidelines. But the reduction in demand for cruising has resulted in a low level of advance booking and the associated deposits received by the customers. At the same time, the company has experienced a large number of cancellations, which has led to the issuance of refunds to customers and significant material impact on its cash flows, liquidity, and financial position. However, the company deferred a significant portion of its planned capital expenditure from the years 2020 and 2021 to preserve the liquidity throughout the COVID-19 pandemic.
The company’s principal operating strategies will remain consistent even though it has been affected by the impacts of the COVID-19 pandemic. To maintain the liquidity of the company it will persist to prioritize the strategies that will reduce the operating and capital expenditure. By the end of September 2021, the company operated 38 global and partner brand ships which represent 63% of its fleet, and also sailed 500,000+ passengers since the resumption of its operations. The company is also expected to operate almost 80% of its fleet and serving to over 1 million passengers by 31, December 2021.
About the Company
Royal Caribbean Cruises Ltd. is an American cruise company founded by Arne Wilhelmsen in 1969 and is headquartered in Miami, Florida. The company operates and controls four global cruise companies that are Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises, and has more than 65,000 employees worldwide. The common stock of the company is traded in New York Stock Exchange (“NYSE”) under the ticker symbol “RCL”. It is the second-largest cruise line that operates in the world and owns a 50% joint-stock venture in TUI Cruises.
The company’s global brands and partner brands operate a total of 61 ships combined in the cruise travel industry and the aggregate capacity of ships is approximately 137,930 berths (as of December 31, 2020). Also, the company offers a selection of global itineraries with around 1,000 destinations on all seven continents.
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