Royal bucks China
ROYAL Caribbean Cruises Chairman and CEO Richard Fain said the cruise line continues to show growth in China despite a slowdown of the country’s economy.
Speaking to CNBC late last week, Fain boasted Royal’s business in China was currently “working beautifully” during a second quarter period that included the country’s lowest gross domestic product output in nearly 30 years.
“Even though the China economy is obviously faltering, we’re not,” Fain declared.
“We’re having a record year there, it’s much better than last year and it continues to improve,” he added.
Part of Royal Caribbean’s strong growth plan includes the recent launch of Spectrum of the Seas in Shanghai this year ( CW 05 Jun 2019), which Fain said continues to receive strong demand from the Chinese market.
“We brought out more capacity, we’re filling the extra capacity and we’re filling it all at better pricing - that feels pretty good to me,” he said.
Royal saw sales grow by 20% in Q2 to US$2.81 billion.