According to executives on Royal Caribbean Group’s first-quarter earnings call on Thursday, all signs point to a China restart in 2024.
Although much is still to be done, we have begun rebuilding our sales organization in China. Hopefully, we will be back operating out of China by late spring or early summer (2024), said Royal Caribbean International president and CEO Michael Bayley.
According to Bayley, the brand had built a significant business over the years and was the number one brand in China by volume before the pandemic.
This year, the company sent a new ship to China, the Spectrum of the Seas. Before the pandemic, it planned to base the Oasis-class Wonder out of China year-round.
According to our expectations, this market will return to its pre-pandemic state. It is highly valued to have Chinese customers. Net revenue from Chinese consumers. The level is typically around the same as an American, but slightly higher than that. Bayley said: “So, we see that returning. “Onboarding spending changes somewhat.” In different areas, spending skews differently. Overall, they spend a lot.