Royal Caribbean Group hails “outstanding year” on record 2025 results

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Royal Caribbean Group's three cruise brands

Royal Caribbean Group has reported full-year revenue of US$17.9 billion and adjusted Ebitda of US$7.0 billion for 2025, results Chairman and CEO Jason Liberty hailed as representing an “outstanding year” for the company.

Driven by robust demand, strong joint venture performance and record wave season bookings, the cruise giant expects earnings per share to climb from US$15.64 in 2025 to between US$17.10 and US$18.10 in 2026.

Liberty noted that booking momentum has accelerated since the company’s previous earnings call just seven weeks earlier, with the current wave period delivering the highest number of bookings in the company’s history.

Onboard revenue also continues to grow, with nearly half of all purchases made pre-cruise and 90% of transactions completed online. For 2026, a higher share of booked guests have already purchased onboard packages ahead of sailing, reinforcing the group’s digital-first retail strategy.

The company, parent to Royal Caribbean International, Celebrity and Silversea, forecasts net yield growth of between 2.1% and 4.1% for 2026, despite itinerary adjustments in China.

Connections Cruise Arabia returns to Dubai in 2026

Celebrity to double river cruise fleet to 20 ships

“We are shaping the future by further investing in game-changing vacation experiences,” said Liberty. “The new Discovery Class for Royal Caribbean, the expansion of Celebrity River Cruises and five new exclusive destinations launching by 2028 strengthen our long-term growth trajectory. We are attracting new guests and driving repeat engagement, turning the vacation of a lifetime into a lifetime of vacations.”

Ahead of the earnings call, Celebrity Cruises unveiled plans to add 10 new river cruise ships by 2031. Liberty described both developments as “an exciting step forward” for the group, highlighting the Discovery Class as a showcase for “next-generation innovation and sustainability”.

Render: Celebrity River Cruises' vessel

Meanwhile, Royal Caribbean confirmed agreements with French shipyard Chantiers de l’Atlantique to build its new Discovery Class ships, including two firm orders with options for four additional vessels. The first ship is set to debut in 2029, followed by a second in 2032. 

Looking ahead, Royal Caribbean expects to take delivery of the 7,000-passenger Legend of the Seas – the US$2 billion, third Icon Class ship – in the second quarter of 2026.

Reflecting its strong performance and brand momentum, at the 2025 World Cruise Awards held in Bahrain, Royal Caribbean Group dominated with nine top global honours, complemented by five regional wins, while Celebrity Cruises was named the ‘Middle East’s Best Cruise Line’.

To partner with Royal Caribbean Arabia call UAE +971 4 331 4299, KSA 800 897 1419, or email book@rccl.ae. For more information, visit www.royalcaribbean.ae

Discover More About Cruise

Supporting the growth of the cruise industry, Connections Cruise Arabia will return to Dubai in the UAE in 2026, following the success of the inaugural edition in 2025. The two-day event, taking place from 28 to 29 September, will welcome more than 500 travel trade professionals from across the global cruise ecosystem. To register your interest in attending, contact Connections.