Carnival Corporation CEO Josh Weinstein says guests are showing no signs of slowing down. The company just wrapped up its strongest second quarter ever, with net income more than tripling from last year and revenues hitting $6.3 billion.
“Cruising is a ridiculous value,” Weinstein told Fox Business. Noting the value of cruising against other vacation options, he said, “It’s just stupid how much we charge versus how much land-based alternatives charge.”
That value proposition is driving record bookings and repeat cruisers. Weinstein said the cruise giant has now posted eight straight quarters of record yields and revenue.
“We deliver happiness,” he said. “At the end of the day, that’s what 13 million people are coming for each year.”
Carnival is also opening its newest destination, Celebration Key, on July 19. Located in Grand Bahama, the beach retreat is already one of the most searched cruise destinations online.
With over a mile of beach, the world’s largest swim-up bar, and multiple zones for families, adults, and exclusive experiences, it’s expected to be a major draw.
Looking ahead, forward bookings for 2026 are already pacing at record levels, and customer deposits have reached an all-time high of $8.5 billion.
Also on the horizon is a revamped loyalty program called Carnival Rewards, which will launch in 2026. The program will tie perks to how much guests spend, not just how often they cruise.
While management says it will drive long-term value, it has sparked pushback among longtime Carnival cruisers who preferred the simplicity of earning perks by the number of days sailed instead of spending.
Weinstein said the new rewards model still benefits all guests, whether they book directly or through a travel advisor. “We want to make sure people feel like they’re stretching their vacation dollar as far as it can go,” he told Fox.
Watch the interview
