The average CEO of a company included in the S&P 500 makes 268 times more than their median employee, a figure that outrages many. Cruise line CEOs blow this number out of the water.
The top cruise line CEOs are paid a minimum of several hundred to well more than 1,000 times more than a
There were two news stories this past week which prove that the maxim “rich cruise tycoons get richer” remains true while the debt-strapped cruise industry continues to struggle. Business Insider reported that Royal Caribbean Cruises, Ltd. CEO Jason Liberty collected $10,760,000 last year. Meanwhile, crew members on Royal Caribbean cruise ships made a median annual
A number of travel publications are reporting that Norwegian Cruise Line (NCL) is drastically increasing its service charges by an unprecedented 25% for most cabins, effective January 1, 2023. NCL’s new rate for most passenger cabins will increase $4 from the current $16 a cabin to $20 cabin per person per day. NCL’s guests staying
Carnival Cruise Line posted a video of President Christine Duffy yesterday stating that (1) it hasn’t made a decision to require vaccines, and (2) it won’t sail from non-U.S. home ports (like Royal Caribbean / Celebrity are going to do in the Bahamas and St. Martin).
(1) My view is that Carnival Cruise Line wants
Frank Del Rio, president and CEO of Norwegian Cruise Line Holdings, received compensation in the staggering amount of $36,400,000 in 2020, consisting primarily of nearly $18,000,000 in stock awards, according to a recent Security and Exchange Commission (SEC) filing. The news was initially reported by the cruise trade publication Cruise Industry News.
CEO Del
Carnival Corporation CEO Arnold Donald and other top Carnival cruise executives collected millions of dollars more in compensation in 2020 than in 2019 via stock awards, according to a filing with the Securities and Exchange Commission (SEC) last week. Cruise Industry News summarized the compensation in an article titled Carnival Corporation Executives Made More Money
Reducing the occupancy of ships once the industry is permitted to return to sailing is an integral first step toward combating the spread of COVID-19. But fewer passengers means fewer cruises fares sold. And most significantly, reduced occupancy means reduced onboard revenue from alcohol sales, casinos, gift shops, specialty restaurants and shore excursions. I have
Yesterday Breaking Travel News published an interview with Frank Del Rio, NCL’s president and CEO. He claimed that a cruise ship can be “safer than anywhere else in the world.”
On March 13th, the Centers for Disease Control and Prevention (CDC) issued a “no sail” order which prohibited cruise ships 
from sailing from
Today, crew members aboard the Majesty of the Seas protested Royal Caribbean’s latest failure to follow through with its repatriation of its crew members. Several hundred crew members congregated on the pool deck making signs protesting Royal Caribbean’s refusal to follow through with plans to send the crew members home. The repatriation 
plans have reportedly
Royal Caribbean Cruises’ CEO Richard Fain (photo top in happier days) collected $14,358,919 in compensation in 2019, the cruise line announced two weeks ago in a SEC filing.
Two days earlier, Royal Caribbean announced that it was laying off 25% of its workforce in the United States, due to the COVID-19 pandemic. In addition, Royal
President Trump announced a list of “Great American Economic Revival” industry groups at the coronavirus briefing on Tuesday. He said that the groups will advise the White House on reopening the economy after the shutdown necessitated by the COVID-19 pandemic.
The Great American Economic Revival Cruise Industry Group
This week the White House has
The Sun Sentinel recently published an article, the Top 10 Highest-Paid CEOs in South Florida. Included in the top ten list, are three cruise executives: Norwegian Cruise Line Holding’s Frank Del Rio, Royal Caribbean Cruises’ Richard Fain, and Carnival Corporation’s Arnold Donald.
#1: Norwegian Cruise Line Holding’s Frank Del Rio:
The highest paid cruise
Royal Caribbean Chairman Richard Fain remains the highest paid executive in the cruise industry.
Mr. Fain is the highest paid cruise executive for the second year in a row. Mr. Fain was paid $13,343,413 last year (2017), an increase of nearly three million dollars, from $10,405,684 in 2016.
Royal Caribbean enjoyed a record earnings year
Royal Caribbean announced its fourth quarter financial results with CEO Richard Fain stating that the cruise company received revenues of $2,000,000,000 with net profits of $288,040,000. Royal Caribbean’s fourth-quarter profits and revenues reportedly exceeded Wall Street estimates,
Mr. Fain told CNBC that the company met its lofty three-year goals of “double earnings” and a “double-digit”
Former Norwegian Cruise Line ("NCL") CEO Colin Veitch’s trial against his successor, Kevin Sheehan, and their old cruise line, NCL, for defamation and breach of contract has been underway in the Miami-Dade County courthouse, here in Miami, Florida this past week.
Veitch worked at the helm of NCL from 2000 to 2008. According to Travel
Royal Caribbean top executive Richard Fain reportedly sold 20,000 shares of Royal Caribbean (RCL) stock this week for a total amount of approximately $2,500,000.
In a transaction this past Monday, November 13th, he sold his shares at an an average price of $123.76, for a total value of $2,475,200.00. CEO Fain officer reportedly now owns 895,416 shares
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Royal Caribbean chief executive officer Richard D. Fain sold 210,706 shares of his cruise line stock in a transaction on Wednesday, August 2, 2017 at an average price of $115.83, for a total value of $24,406,075.98.
Mr. Fain was last in the news in April when a filing with the Securities and Exchange Commission
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Royal Caribbean CEO Richard D. Fain’s reportedly collected total compensation last year in the amount of $10,400,000 (million) compared to his total compensation in 2015 of $9,400,000 (million), according to a recent filing with the Securities and Exchange Commission.
CEO Fain recently sold 20,000 shares of Royal Caribbean stock. The RCL stock was sold
