Royal Caribbean global expansion of brand new ships set to double earnings
Posted on Thursday, December 18th, 2014 at 2:36 pm
Royal Caribbean is setting a new bar for cruise lines as they make aggressive moves to raise their international brand. They’ve developed a high-tech class of ships filled with technological innovations that set them apart from their competitors. As part of their global expansion plan, this Quantum ship will start a new line in China with home port in Shanghai, a development that has been made possible by Royal Caribbean’s joint venture with a Chinese travel company, Ctrip. This major international push, alongside a 42-ship global expansion, will ideally create a national cruise line for China and is set to double Royal Caribbean’s earnings by 2017. Royal Caribbean already has competition in China, but none are offering brand new ships like those Royal Caribbean has due to release.
Royal Caribbean recognized the pressure the tourism business has experienced the past few years and saw an opportunity to actually increase their ship volume and itinerary lists. They announced their “double-double” program in July, and since that announcement with initiatives to increase the company’s return on invested capital, Royal Caribbean’s stock price has increased by 40 percent.
Royal Caribbean aims to add more luxury elements to their new cruise ships, due to release by 2018 and 2020. Making their image more upscale with the Quantum ship-line will ideally attract more passengers and bring in more money, offering more high-tech features and accommodations that justify higher fares. They are pioneering elements aboard the Quantum such as sky-diving simulators, bumper cars, roller skating, and an enclosed SeaPlex activity area. By putting forth the best technology in the market right now, Carolyn Spencer Brown, editor in Chief of CruiseCritic.com, believes Royal Caribbean is really committing to a market that is “ultimately going to revolutionize the industry.”
Such massive expansion opens the cruise industry up to more passengers, more itineraries, and more destinations. However, with such technological advancements aboard new ships, there is the inevitable risk that passengers will be susceptible to new injuries. The cruise ship lawyers at Louis A. Vucci P.A. are prepared to help those who have been injured or who have fallen ill due to wrong-doing or negligence aboard a cruise ship. Contact us at (786) 375-0344 for more information.