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Company Interview Excerpt
Royal Caribbean International - Adam M. Goldstein


Full article published: 11/23/2009


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TWST: Let's begin with a brief history and overview of Royal Caribbean International. Would you tell us how the company got to be what it is today?
Mr. Goldstein: We are almost exactly 40 years old, and we started with the vision of doing warm-weather cruising on new cruise ships. We are the only cruise line, at least today, of any significance that started with new ships right from the get-go. So you can trace that lineage all the way through to Oasis of the Seas. It has always been our mentality to build new ships the best that they could be built; and there have been about six or seven generations over the 40 years, but it's directly traceable back to Song of Norway in 1970. We have only ever been involved in offering cruises - that's what we do. And we have started from fairly humble beginnings, with our original three ships being based out of Miami, to now cruising everywhere in the world pretty much all the time. There are two brands in the industry - Royal Caribbean International and our competitor, Carnival Cruise Lines, are the two largest cruise brands in the world. We are much more globally oriented than they are. So Royal Caribbean International is the major player in the North American cruise market, but also a major player in Europe, Asia and Latin America. And the global development is a really big part of our strategy, as are the innovations that continue to come out on our new ships. Oasis of the Seas is really showcasing our dedication to innovation to delivering the "wow," as we like to say, with features like Central Park and Boardwalk, and the Royal Promenade, and the ability to zip line above the Boardwalk, and so on and so forth. We offer a variety of options and choices for people so that no matter how active oriented they are or how passive they want to be, there is something for everyone on board our ships. We've brought out many generations, as I've said, but now with Oasis of the Seas coming out on October 28, we are entering a phase that is unprecedented for us and for the industry because the ship is unbelievable.

 

Tickers included in this excerpt: RCL

 

For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.