From Debt to Deck Chairs: Cruise Industry’s Post-Pandemic Revival
The cruise industry, once battered by pandemic shutdowns, has surged back with remarkable vigor. Royal Caribbean (RCL) and Carnival (CCL) now present investors with divergent strategies: one chasing premium growth, the other seeking value recovery.
Royal Caribbean's Icon-class ships epitomize its aggressive expansion, targeting affluent travelers with bookings stretching into 2027. The company's financial discipline shines through its deleveraging progress, despite pandemic-era debt accumulation.
Carnival's path remains more cautious, prioritizing balance sheet repair over flashy expansion. The contrast between these approaches frames a classic investment dilemma: ride the momentum or bet on a turnaround.