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
The cost of daily service charges on cruise ships operated by Norwegian Cruise Line (NCL) has increased again, to as much as $20 per person, per day according to several news sites. Cruzely and The Street report that the new charges reflect a “hike of $1.50 daily for The Haven and Suites, no change for
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
Norwegian Cruise Line Holding’s CEO Frank Del Rio (photo above, via CNBC, in happier times in 2019) collected $17,808,364 in compensation last year, including $12,201,324 in stock awards and $3,600,000 in incentive plan compensation according to SEC filings. His compensation was down from 2018 when he collected nearly $22,600,000. Del Rio has collected over $85,000,000
Shortly after the new year, Royal Caribbean will again increase the automatic gratuities which it charges its passengers. Royal Caribbean will hike the automatic gratuities which it adds onto its guests’ accounts (by more than 7%) to $14.50 per person, per day. Passengers who stay in suites will pay even more, $17.50 per person, per
Travel Weekly and Cruise Critic are reporting that Norwegian Cruise Line (NCL) is raising gratuities on April 1st from $13.50 per person, per day, to $13.99, on all ships except the Norwegian Sky. Daily gratuities for standard cabins on the Norwegian Sky will increase to $18.99 (an increase over 40%).
Travel Weekly says that
Loyal to Royal?
Expect to pay more in gratuities.
Effective June 1st for all sailings departing on or after July 1st, the new gratuities charged by Royal Caribbean to its passengers will be $12.95 per day, per guest in standard accommodations, and $15.95 per day, per guest in suites.
There seems to be a trend
According to the SEC, Royal Caribbean CEO Richard Fain (below right) sold 87,488 shares of his RCL stock at an average price of $76.41, for a total value of $6,684,958.08.
After the transaction, cruise executive Fain still owns 1,139,613 shares of his cruise line stock valued at approximately $87,077,829.33.
I wrote a similar article
Last week I wrote an article about Royal Caribbean CEO and President Adam Goldstein cashing in over $2,300,000 worth of Royal Caribbean stock, still leaving him with around $19,000,000 worth of his company’s stock.
It’s difficult to justify the enormous wealth of the cruise executives given the fact that the cruise business is rigged to
Last week, I received a tip about the Saga Ruby cruise ship (ex – Vistafjord), which is on her last cruise for Saga to the Caribbean from Southampton, that the ship is stranded in Canary Islands due to generator problems.
I had mentioned that the old cruise ship is already apparently sold to Chinese investors and
Carnival CEO Micky Arison joined Twitter in 2010. I was curious to see how such a big shot cruise executive would interact with the common man on such a popular social media platform like Twitter.
After the Costa Concordia disaster killed 32 of his cruise guests and crew members, cruise CEO Arison made no public
A dozen newspapers in the U.K. have reported on P&O Cruises’ decision to pay its crewmembers a basic salary of 75 pence an hour (around $1.20 an hour) which turns out to be approximately $400 a month. Cash tips are being phased out with automatic gratuities being added to the passengers’ bills. But rather than
The San Francisco Chronicle is a great newspaper. Like the L.A. Times, it has an endless staff of intellectually curious, bright journalists instilled with an ethic of investigative journalism of the likes 
of super-journalist Douglas Franz. All qualities which our newspapers here in South Florida are sorely missing.
Miami Herald – An Enabler of the "Greed of the Seas"
I
Cruise fans, travel agents and cruise communities have been abuzz in anticipation of Royal Caribbean’s new cruise ship – the "Oasis of the Seas." "Amazing! . . Wow! . . Look at that!" . . . have been the extent of the popular media’s insight into this new super mega ship.
But a few journalists have questioned the environmental appropriateness of this monster of a cruise ship.
