Will Carnival's New Rewards Model Drive the Next Wave of Monetization?

Key Takeaways CCL will launch Carnival Rewards in 2026, linking loyalty tiers to total spend, not cruise days. The shift is expected to cut 2026 yields by 50 bps but be cash flow positive from the start. CCL expects the program to be accretive to yields beyond 2028 with no added operating costs.Carnival Corporation & plc (CCL) is preparing to roll out a material change in its customer engagement strategy via a redesigned loyalty program, Carnival Rewards, set to launch in June 2026. The upcoming program m ...