Cruise line committed to eliminate all pandemic-associated debt within the next two years

One of the world’s largest cruise companies, Royal Caribbean has announced that it has managed to avoid staffing challenges being experienced in America because of its global talent pool.

Company CEO Richard Fain explained that jobs at Royal Caribbean are “so desirable” to overseas workers that recruitment is easy. This is coming at a time when other companies in the hospitality-related industries have struggled to fill open roles.

Said Fain: “We really had essentially no problem in attracting talent. The people that provide service are what make the company so successful. They are the ones that the guests love.”

No difficulty recruiting at this time

He added: “We’ve (Royal Caribbean) had no difficulty recruiting and I think it’s because we’re just seen as such an attractive job for people all over the world.”

Commenting on the buoyancy of his company, Fain reported that Royal Caribbean is in the process of reducing its debt load and has recently cut part of its more expensive debt with a goal to eliminate all pandemic-associated debt within the next two years.

The cruise industry was brought to a halt by the pandemic, forcing Royal Caribbean and rival operators to turn to the debt market for cash injections. In its third-quarter earnings release earlier Friday, Royal Caribbean reported having US$19.88 billion in long-term debt.

Royal Caribbean resume sailing from US ports this summer with the CEO confirming that bookings for the 2021 calendar year were weak. However, Fain showed titanic optimism that bookings for the tail end of 2021 (traditional holiday season) should be strong.

As for bookings for 2022, Fain declared that these are ‘remarkably strong’.