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Royal Caribbean Isn't a Monopoly. It Owns the Best Seats.
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Investing··10 min

Royal Caribbean Isn't a Monopoly. It Owns the Best Seats.

Royal Caribbean reported a 109% load factor on $4.5 billion of Q1 2026 revenue. The market still treats cruise as a fragile leisure stock. The case for Royal Caribbean as a scarce asset starts with a private island that paid itself back in six months.

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