Booking curve is lengthening and the Royal Caribbean Group is about to receive more bookings for 2025 than for 2024, according to executives.

In the company's first-quarter report to investors, CEO Jason Liberty mentioned that this Wave season was 'absolutely exceptional,' with year-over-year growth in the double-digit range. April bookings were even higher, doubling the year-over-year growth of the first quarter.

'This acceleration has gained momentum,' said Liberty. 'At this point, we only have about 12% of the load factor left for the year.' This does not mean that Royal Caribbean has sold 88% of the cabins, as load factors can exceed 100% on cruises. However, it does indicate that the company is well-covered for this year's bookings and that the 2024 inventory is running out.

Liberty added, 'We are reaching the point where we will soon take more bookings for 2025 than for 2024. Looking at booking behavior, the booking window continues to extend, so guests are making their decisions further in advance.'

Alberto Muñoz, Vice President of Royal Caribbean for Latin America and the Caribbean, said, 'It is an honor to share with all of you great news at the level of Royal Caribbean Group. On this occasion, we announce the anticipation with which passengers are booking the best vacation offer of the moment.'

'We can confirm that in this first part of the year, the results have been exceptional and we are very well-positioned compared to the results of previous years. The excitement of passengers to book a cruise with Royal Caribbean has grown more than ever, and we are reaching the point where more of the 2025 inventory will be offered due to the success we have had in 2024. These results are the reflection of an amazing team effort and Royal Caribbean's goals in terms of innovation and the best product offer available in the industry.'

CFO Naftali Holtz expressed it this way: 'Bookings have far exceeded last year's weekly, despite having less inventory available for sale. As a result, we remain in a record position for booking volume and our booked daily revenues are now even further ahead compared to 2023 than they were at the beginning of the year.'

Royal Caribbean Group's first-quarter revenue was $3.73 billion, a 29% increase compared to the previous year. Operating income was $750 million, an increase of 175%.

Because the company had $424 million in interest expenses, net income was only $364 million.