Royal Caribbean’s CocoCay Drives Rate and Short Market

“To describe Perfect Day as a home run wouldn't do it justice. It really resets the bar in the short cruise market,” said Richard Fain, chairman and CEO, Royal Caribbean Cruises, on the company’s second-quarter earnings call.

Fain highlighted Perfect Day CocoCay as part of Royal Caribbean’s strength to adapt to an ever-changing business environment.

“We continue to do well because we continue to adapt our product to the changing desires of our current and future guests and the changing environment which we operate,” Fain added.

Michael Bayley, president and CEO of Royal Caribbean International, said that through 2020, 11 Royal Caribbean ships will call at the private island that now features an expansive water park. 

“If you may recall, we put Mariner, Navigator and Independence through Royal Amplified and we completely changed the product offering in the short cruise market and literally put the biggest best ships in that short market, which is about 20-something per cent of the entire American cruise market,” Bayley said. “So we already started to see demand increasing for those products because they are truly great products.”

Bayley said that since May when the new experience opened, the company has taken around 350,000 guests to CocoCay.

“It's now rated the number one resort globally for Royal Caribbean. It's knocking it out of the park in terms of truly delivering a phenomenal day. The guest satisfaction is extremely high. And so the demand that we're seeing is coming from all segments. It competes very well with Orlando,” Bayley said, adding that 40 per cent of guests in the short cruise market was new-to-cruise.

“We’re seeing both significant increase in volume and of course that's driving rate,” Bayley noted.