Company and Product Review
Our client is the cruise giant Royal Caribbean. Royal was established in 1968 by
three major Norwegian shipping companies: Anders Wilhemsen & Company, I.M.
Skauge & Company and Gotaas Larsen. Two years later, the first Royal Caribbean ship,
Song of Norway, entered service on the high seas. In 1993, the company went public on
the New York Stock Exchange under the symbol, “RCL.”
Royal Caribbean offers its customers a choice between six different classes of
ships and offers 36 different variations of sailing vessels in North America and six more
worldwide. Destinations range from Alaska, parts of Asia and down to Australia and
Hawaii; as well as the Bahamas, Bermuda, Caribbean islands, Mexico, Panama, Eastern
coastlines of South America, and transatlantic voyages.
The company’s vision is to be constantly associated with excellence. On their
website, the company details that their focus begins on employees delivering their best to
customers (guests) which generate returns for stakeholders that enhance their respective
communities. The ongoing philosophy that the company credits their success to is the
question: “Why Not?” This idea pioneered Royal’s decision to “stretch” their Song of
Norway ship to add a 42% increase in passenger capacity, in 1978.
The “Why Not?” philosophy has also inspired ad campaigns in the early 2000’s
that aimed at juxtaposing numerous on-and-offshore activities, such as: “Why not ice
skate on the equator and climb mountains at sea?” The company ran one minute
television ads accompanied by 40 print ads in newspapers across the country.
As of 2010, Royal Caribbean now maintains the international commercial cruise
industry’s 2nd largest market share of 22%, and their total worth has continued to
*courtesy of CruiseMarketWatch