JOURNAL ARTICLE

Luxury Cruises Pour $1.5 Billion Into Private Islands, Beaches.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Smith, Michael; Wyss, Jim 3 of 3

Abstract

Cruise lines have invested $1.5 billion since 2019 to expand or improve private stops in the Caribbean, acquiring at least 15 islands and beaches across the Bahamas, Belize, Dominican Republic, Haiti, and Mexico. These private destinations have become a significant source of revenue for cruise lines, with Royal Caribbean's Perfect Day at CocoCay delivering 40% returns on investment. However, Caribbean nations are now seeking a fairer share of the profits, as seen in the renegotiated deal between Royal Caribbean and the Bahamas for Paradise Island. The Caribbean is crucial to cruise lines' bottom line, accounting for 55% of Royal Caribbean's passenger capacity. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/05, pN.PAG
  • Document Type:Product Review
  • Subject Area:Botany
  • Publication Date:2024
  • Accession Number:177117117
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