Essay on Royal Caribbean - 6294 Words

Executive Summary Royal Caribbean is the second largest cruise line company in the world and it is in position to take advantage of a recovering industry that is once again attracting high numbers of people looking to spend money. Royal Caribbean has strong brand awareness in North America where a majority of cruises originate, but it also has a strong international reputation through the other brands it operates as well as its own increasing presence in the European and Asian market. Royal Caribbean was hit hard by the downturn in the global economy and it continues to be in a weakened financial condition due to large investments in new ships and rising operating costs. However, the total revenue for the company is back on the rise†¦show more content†¦Companies began building large luxurious vessels that introduced the â€Å"megaship† mentality to resort cruising where the ships were destinations unto themselves. In 1988 Royal Caribbean introduced its first â€Å"megaship† of the times Sovereign of the Sea. â€Å"It weighed more than 73,000 tons, had berths for 2,276 passengers, and featured two indoor/outdoor cafes, two glass elevators, a five-story atrium, and nearly three football fields of open deck on which passengers could stroll† (Business amp; Company Resource Center, n.d.). The Cruise industry was rocked the late 1990’s with a series of concerns about the environmental impact of cruising and passenger health scar es. Despite those negative events cruise travel continued its strong growth through the 1990’s and 2000’s and companies continued their building of increasingly luxurious resort style ships. The current condition of the cruise line industry is that it is working its way to a recovery after the global economic recession hit hard for cruise companies in 2009. Companies are optimistic that people are becoming less tight with their leisure budgets as it is reported that 18.7 million people traveled on cruise ships in 2010 which is up from 17.3 million in 2009 (Royal Caribbean, 2010b). Company Royal Caribbean cruises began in 1969 when three Norwegian shipping companies came together and built three ships to offer trips throughout the Caribbean. â€Å"In fact,Show MoreRelatedThe Cruise And Royal Caribbean Cruise2850 Words   |  12 Pagesbeing on a luxurious cruise ship? The Cruise Ship Industry started in the early 1970s with their oldest cruise line, Norwegian, since then this industry has expanded into multiple brands including: Royal Caribbean International, and Carnival Cruise Line. The top two cruise companies Carnival and Royal Caribbean Cruise Limited account for 71.7% of worldwide share of revenue. This industry operates on high levels of horizontal integration, acquiring parent companies to give a diversified appearance. TheRead MoreRoyal Caribbean Cruise Lines Essay935 Words   |  4 PagesInside Royal Caribbean Cruise Lines Page 1 Royal Caribbean is a $4 billion company that began in 1969 in Norway. It’s the second largest cruise line on the market behind Carnival that makes up 27% of the world’s cruise market. Edwin Stephan and Arne Wilhemsen merged their ideas together to present cruises to the Caribbean for wealthy people living in Florida. Three Norwegian shipping companies established Royal Caribbean Cruise Line: Anders WilhemsenRead MoreCase Assignment Royal Caribbean Essay2485 Words   |  10 Pagesï » ¿a.  Ã‚  Ã‚   Describe Royal Caribbean’s business.   How important are international operations for the company? At the end of the 1960’s, Wilhelmsen and Stephan came up with the profitable idea that the wealthy residents of Florida will consider paying top dollar amounts to cruise to the Caribbean Islands as a great alternative for a week or weekend getaway. 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Tom Murphy was instrumental in bringingRead MoreResearch Paper4372 Words   |  18 Pagesprofessional high-diving, as well as elaborate fountain shows synchronized to music and lights. * Carousel  - An original, handcrafted carousel - the first at sea - will be the centerpiece of this vibrant neighborhood. * Royal Promenade  - Enhancements to the cruise lines signature Royal Promenade, the heart of the ship, will include a mezzanine level that overlooks the main promenade below. The Crystal Canopy sculptured-glass domes will allow natural light to cascade down from the sky. There will be