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Royal Caribbean outlines cost of Hurricane Dorian
Hurricane Dorian cost Royal Caribbean $27 million in lost revenue and additional costs, causing more disruption for the cruise line than any other storm in its history.
During an earnings call Royal Caribbean said Dorian had a significant impact leading to the closure of all three main Florida ports and at CocoCay for 10 days.
In total it impacted 16 ships.
"The financial impact was particularly large because the affected ships included our very successful Oasis class," RCCL chairman Richard Fain said.
The $27 million cost came from disruptions due to multiple itinerary changes and the costs in relief efforts in the Bahamas.
However, it still performed well thanks to the strong US and China markets, posting increased revenues of $3.2 billion, up from $2.8 billion a year ago.
"2019 is shaping up to be another year of solid yield growth and record earnings despite some unusual headwinds," said CFO Jason Liberty.
"As we enter 2020, we are particularly enthusiastic about the new ship deliveries, the development of new destinations, our fleet modernization and technology initiatives."
RCCL said its third quarter net income was up to $883.2 million including Hurricane Dorian costs.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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