Royal Caribbean Group is having a record-breaking Wave season and expects a return to historical occupancy levels by late spring, said CEO Jason Liberty.
He said the seven best booking weeks in the group's history have all happened since Royal's last earnings call in early November.
"We expected a strong Wave season, but what we are currently experiencing has exceeded all expectations, even when considering our capacity growth as a result," said Liberty.
While occupancy had been sluggish to return in 2022, Royal saw continued improvement as 2022 wore on. Load factor for the year averaged 85%, although load factor climbed to 95% in Q4 with a high of 110% on peak December holiday sailings. (Load factor is based on double occupancy and can exceed 100% when more than two passengers occupy cabins on a full ship).