Royal Caribbean Cruises .(US:RCL) CNBC Televisionยท2025-07-21 21:30Industry Performance & Trends - The Invesco Leisure and Entertainment ETF has outperformed the broader market over the last three months [1] - Cruise industry booking volumes have normalized, growing at a low to mid single-digit percentage year-over-year, compared to roughly 20% growth entering the year [5] - Consumer confidence is down, contributing to booking trends more similar to pre-COVID levels [8] - Softening is being observed in different parts of the travel trade after several years of strong results [9] Company Specific Analysis (Royal Caribbean) - Royal Caribbean stock has had a great run, outperforming in the past two years, including an 83% increase in the last three months [1][3] - Truth Securities is downgrading Royal Caribbean to "hold" due to normalization in the cruise industry and high valuations [2][5] Investment Opportunities - Norwegian Cruise Lines is considered a catch-up name and an underperformer within the cruise sector [10][11] - Hyatt Hotels is mentioned as a hotel chain that hasn't performed as well as Hilton, suggesting potential relative value [10][11] Underlying Travel Trends - Research indicates underlying travel trends have been mediocre and lethargic [10]