Royal Caribbean Eyes Growth in Texas -- Market Talk

Dow Jones00:25

1225 ET - Royal Caribbean sees Texas as an underpenetrated market for cruising compared with Florida, CEO Jason Liberty tells analysts on a call. "Texas is a similar-sized marketplace that has half the penetration, with a similar propensity to cruise," Liberty says. Royal Caribbean opened a $125 million terminal in Galveston, Texas in 2022 -- and it's been highly efficient and successful, cruises chief Michael Bayley says. He adds that the Galveston port helps expand the company's reach in the Gulf Coast states and attracts younger families, all while costs are lower. Royal Caribbean's next big bet, the Perfect Day Mexico itinerary, will set sail from its Florida and Texas ports starting in 2027. Shares rise 4.2%. (jasmine.li@wsj.com)

(END) Dow Jones Newswires

October 29, 2024 12:25 ET (16:25 GMT)

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He adds that the Galveston port helps expand the company's reach in the Gulf Coast states and attracts younger families, all while costs are lower. Royal Caribbean's next big bet, the Perfect Day Mexico itinerary, will set sail from its Florida and Texas ports starting in 2027. Shares rise 4.2%. 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