- Royal Caribbean Group has half the number of available cabins right now than the same time in 2023.
- The cruise giant has seen a string of record-breaking reservation weeks over the past three months.
- A trade group estimates 36 million people will go on cruises in 2024, a 14% increase from 2023.
Good luck booking your dream Royal Caribbean vacation this year — the cruise line's giant ships are running low on cabins amid a spike in demand.
Trade group Cruise Lines International Association estimates 36 million travelers will cruise in 2024 — a 14% increase from 2023. And for good reason: These vacations at sea generally offer an incredible value proposition.
After all, what other ticket includes a hotel room, food, activities, and an itinerary with several destinations?
But if you've been eyeing one of Royal Caribbean's flashy ships for your next trip, you better book soon.
The cruise line's parent company — which also owns Celebrity and Silversea — has half the number of available staterooms in the first quarter of 2024 compared to the same time last year, Jason Liberty, the company's president and CEO, told investors during its fourth-quarter earnings call on Thursday.
Looking ahead, the cruise operator now has fewer unclaimed cabins for all of 2024 than in the same period in 2023.
Demand has been so pronounced the five strongest booking weeks in the company's history have happened in the past three months. Three of those weeks were at the start of the New Year's "wave season," when operators like Royal Caribbean roll out big discounts to incentivize reservations.
Royal Caribbean isn't the only cruise giant starting 2024 with exceptionally busy ships. In the summer of 2023, competitor Norwegian Cruise Line Holdings reported a decreasing number of available cabins amid strong demand.
Soon after, Carnival Corp's CEO Josh Weinstein told investors the company's similar boom in 2024 bookings "will recede as we simply run out of inventory to sell."