Royal Caribbean's private island destination in The Bahamas, Perfect Day at CocoCay, has become so popular, that the cruise company has decided to expand its capacity. Hideaway Beach, a new "adult neighborhood" on the cay, will expand the attraction by 3,000 guests, bringing its total capacity to 13,000 daily, the cruise company revealed during its fourth quarter earnings call yesterday.
"The demand for that product [Perfect Day at CocoCay] is exceptionally high," revealed Royal Caribbean President and Chief Executive Officer Michael Bayley. "The demand not only is there from a volume perspective, but the rate is there and that rate has been going up again in a very healthy way."
The popularity of Perfect Day at CocoCay has been increasing despite prices for its products and experiences - such as private cabanas and its Thrill Waterpark - increasing since the restart of the cruise industry in 2021.
"We've seen a great demand and a lot of resilience as the prices go up. It's a hit and it's very successful," said Bayley.
CocoCay's success has led Royal Caribbean to consider replicating it in other destinations.
"We have an appetite for other such ventures. As soon as we're ready to make any other announcements, we will. Our intention is to continue to grow this piece of the experience for our guests," Bayley noted.
The company has already announced "Perfect Day at Lelepa", which will be located on the South Pacific nation of Vanuatu.
Royal Caribbean Group estimates around 2.5 million to three million guests will visit Perfect Day at CocoCay in 2023.
The year 2022 was a challenging, but successful and transitional year for the company, noted Royal Caribbean Group President and Chief Executive Office Jason Liberty, during the fourth quarter earnings call.
"During the fourth quarter, the demand for our brands accelerated. We delivered a record 1.8 million vacations, achieved a 95 percent load factor, and successfully returned to Australia for the first time in three years," he said.
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