Royal Caribbean Cruises Ltd.

Royal Caribbean Cruises Ltd. (RCCL), a NYSE listed company, is the world’s second largest cruise company after Carnival Corp. It operates nine cruiseships with a total capacity of 15,020 berths and it has five additional ships on order with a total value of more than $1.4 billion that will increase its capacity by more than 60% to 24,700 berths. Currently, it offers more than 50 itineraries and 140 destinations in the Caribbean, Mexico, Bahamas, Alaska, Panama Canal, Bermuda, Europe, Far East and Hawaii.

From 1984 to 1994, RCCL experienced a growth of 17.4% in passengers carried vs. a cruise industry average of 9.2% for the same period. However, from 1992 to 1993, the increase in the number of passengers was an anemic 2.8%, and declined even further from 1993 to 1994 to 1.6%. Currently, RCCL has an approximate 19% market share of the North American cruise market. Since it was first introduced to the NYSE, RCCL’s stock price reached an all time high of $30.5 in October 1994 and currently trades close to $23.

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