Jason Liberty

Royal Caribbean continues to see very strong demand from consumers who have good jobs and balance sheets, bookings remain robust across core products even after a record wave season, onboard spending is healthy, and the company's value proposition (15% discount to land-based vacations) provides insulation. The CEO expresses confidence in the business outlook despite geopolitical headwinds and fuel cost pressures, supported by strong loyalty program engagement and ability to source high-yield guests globally.