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Royal Caribbean Group RCL

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Shift in Leadership Should Not Affect Long-Term Strategy at Royal Caribbean

Jaime M. Katz, CFA Senior Equity Analyst

Analyst Note

| Jaime M. Katz, CFA |

After steering no-moat Royal Caribbean through numerous economic cycles, a plethora of health- and terrorist-related events, and most recently the coronavirus pandemic, long-time CEO Richard Fain announced that he would be moving solely to the chairman of the board of directors role in January 2022. Picking up the reins is Jason Liberty, whose eight-year tenure as CFO and more than 15 years with the company should provide a smooth transition. Liberty is well versed on the operations and financial aspects of all the brands under the Royal Caribbean Group portfolio, offering a unique purview into demand across demographics and geographies. Taking Liberty’s CFO seat will be Naftali Holtz, senior vice president of finance, who has been involved in revenue management, capital allocation, and treasury, among others.  

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Company Profile

Business Description

Royal Caribbean is the world's second- largest cruise company, operating 61 ships across five global and partner brands in the cruise vacation industry. Brands the company operates include Royal Caribbean International, Celebrity Cruises, and Silversea. The company also has a 50% investment in a joint venture that operates TUI Cruises and Hapag-Lloyd Cruises, allowing it to compete on the basis of innovation, quality of ships and service, variety of itineraries, choice of destinations, and price. The company is completed the divestiture of its Azamara brand in the first quarter of 2021.

Contact
1050 Caribbean Way
Miami, FL, 33132
T +1 305 539-6000
Sector Consumer Cyclical
Industry Travel Services
Most Recent Earnings Sep 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 85,000

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