Recent Updates — RCL
Royal Caribbean Group announced it entered into definitive agreements to acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3.0 billion in cash. The transaction is valued at a forward EBITDA multiple of roughly 10x and is expected to close in early 2027, subject to customary approvals. Royal Caribbean has secured committed debt financing from Morgan Stanley to fund the investment. This strategic move expands the company into the all-inclusive resort sector, broadening its vacation portfolio alongside existing cruise brands like Royal Caribbean, Celebrity Cruises, and Silversea. The joint venture aims to accelerate growth in the global vacation market by combining resort expertise with a connected vacation ecosystem. Royal Caribbean Group operates as a leading global vacation company spanning cruises, private destinations, and land-based experiences.
On August 6, 2026, Royal Caribbean Cruises Ltd. entered into an underwriting agreement for a public offering of $1,250,000,000 aggregate principal amount of its 5.550% Senior Notes due 2034. The transaction is led by BNP Paribas Securities Corp., BofA Securities, Inc., and Citigroup Global Markets Inc., with closing expected on August 20, 2026. Net proceeds will primarily repay floating rate term loan borrowings and refinance other existing indebtedness. Royal Caribbean Cruises Ltd. operates in the cruise line industry, providing vacation travel services.
Royal Caribbean Cruises Ltd. reported second quarter 2026 financial results on July 28, 2026, posting diluted earnings per share of $4.20 and adjusted EPS of $4.21, exceeding prior guidance. Total revenue reached $4.8 billion, a 6% year-over-year increase, supported by a 110% load factor and 2.4 million passengers. The company raised its full-year 2026 adjusted EPS guidance to a range of $17.73 to $17.87, reflecting stronger-than-expected quarterly performance and an improved outlook. Management cited strong close-in demand and lower costs, while noting a modest booking impact from geopolitical activity on select itineraries. The firm operates in the global cruise and vacation industry, managing brands including Royal Caribbean, Celebrity Cruises, and Silversea.
Royal Caribbean Cruises Ltd. appointed Tara Bunch to its Board of Directors on July 16, 2026. Bunch, formerly the Senior Vice President and Global Head of Operations at Airbnb, brings extensive experience in scaling global technology-enabled service models and digital transformation. Royal Caribbean Group is a global vacation company that operates cruise ships and land-based vacation experiences.