After enduring a slump of nearly three years, Royal Caribbean Cruises (NYSE: RCL) is finally seeing a wave of pent-up revenge travel. While cruising is clearly making a comeback, Royal Caribbean stock still trades more than 52% down from pre-pandemic highs. Citing "a substantial acceleration in demand" for cruises this year, CEO Jason Liberty said in the company's third-quarter earnings call that bookings doubled between Q2 2022 and Q3 2022.
In the latest trading session, Royal Caribbean (RCL) closed at $68.44, marking a -1.3% move from the previous day.
James Hardiman, Citi Leisure and Travel Analyst, discusses demand for cruises after COVID-19. You can see the full interview here. Key video highlights 00:07 On moving on from COVID-19 00:18 On 'pent-up demand' 00:38 On 'wave season' 00:55 On 2023 outlook