Core Insights - Royal Caribbean Group reported its Q3 2025 earnings, raising its full-year targets and announcing a new exclusive destination plan [1] Financial Performance - The company reported earnings per share of $5.74 (adjusted $5.75) and total revenue of $5.1 billion, with a net profit of $1.6 billion (adjusted) [1] - Year-over-year growth was observed in all key metrics, with a passenger load factor of 112% (up 1 percentage point) and a capacity increase of 2.9% [1] - The company served 2.5 million guests, a 7% increase year-over-year, and reported a gross margin increase of 3.8%, while cost growth was optimized by nearly 200 basis points compared to guidance [1] Full-Year Outlook - The company raised its adjusted earnings per share forecast for 2025 to $15.58-$15.63, representing a 32% year-over-year increase [1] - Full-year net income is expected to grow by 3.5%-4.0% [1] Booking Trends - Booking rates for 2025-2026 are at historical highs, with significant year-over-year increases in booking prices for 2026 [1] - Onboard and pre-cruise spending by guests has exceeded previous years [1] Strategic Developments - The company announced the opening of the "Santorini Royal Beach Club" in summer 2026 and plans to expand its land-based exclusive destinations from 2 to 8 by 2028, with the first Royal Beach Club opening in December in the Bahamas [1]