Core Insights - Princess Cruises is expanding its Caribbean offerings with the introduction of Celebration Key as a new destination starting November 1, 2026, as part of its 2027-28 season [2][5] - The new destination will feature a variety of activities and amenities designed for all ages, enhancing the overall cruise experience [3][7] Caribbean Program Highlights - The 2027-28 Caribbean program will include 31 ports from five homeports, marking the largest and most diverse offering to date [1][5] - Key features of the program include: - 187 departures on nine ships, including the inaugural homeport season for Star Princess from Port Canaveral [6] - 43 itineraries ranging from four to 15 days [6] - 31 destinations, including 13 UNESCO World Heritage Sites [6] - 22 unique islands across the Eastern, Western, and Southern Caribbean [6] - Five homeports, including a new one in Miami [6] Celebration Key Features - Celebration Key will offer over a mile of pristine shoreline, calm turquoise lagoons, and more than 30 dining and beverage options [7][12] - The destination will have five distinct areas catering to different guest preferences: - Paradise Plaza: The welcoming heart of Celebration Key [12] - Starfish Lagoon: Family-friendly area with one of the Caribbean's largest freshwater lagoons [12] - Calypso Lagoon: An adult-friendly lagoon with social spots and a swim-up bar [12] - Pearl Cove Beach Club: An adults-only escape featuring an infinity pool and premium dining [12] - Lokono Cove: A shopping village showcasing local artistry and Bahamian craftsmanship [12] Panama Canal Season Highlights - The 2027-28 Panama Canal season will continue to offer unique experiences, including: - 22 departures on five ships [6] - 21 destinations in nine countries, including seven UNESCO World Heritage sites [6] - More Ashore late-night stays in key locations like Cartagena and Aruba [6]

Core Insights - Sun Princess has been recognized as the 1 Mega Cruise Ship in the 2025 Condé Nast Traveler Readers' Choice Awards, marking its second consecutive year of receiving this honor, highlighting its exceptional service and innovative design [1][2] - The ship, launched in 2024, is the first of the Sphere-Class vessels, featuring a capacity of 4,300 guests and a weight of 177,882 tons, setting a new standard in the cruise industry [1][3] Company Highlights - Gus Antorcha, President of Princess Cruises, emphasized the award as a testament to the ship's next-generation design and the dedication of the crew, which enhances guest experiences [2] - The Readers' Choice Awards are a respected recognition program in the travel industry, with hundreds of thousands of votes cast annually by readers [2] Ship Features - Sun Princess offers unique features such as The Dome, a multi-level entertainment space, and Spellbound by Magic Castle, an immersive speakeasy experience [3] - The ship includes over 1,500 balcony staterooms and suites designed for comfort, featuring the exclusive Sanctuary Collection, which provides a private escape at sea [4] Entertainment and Dining - Standout venues on the ship include The Princess Arena, the most technologically advanced theater, and The Piazza, known for its dramatic architecture and ocean views [5] - Guests can enjoy 30 dining and bar venues, featuring high-end ingredients and a selection of premium liquors, including the Love Line Premium Liquors Collection [3][4] Future Developments - Princess Cruises plans to expand its fleet with the introduction of Star Princess, which recently set sail on its maiden voyage, further enhancing the guest experience [5][9]

Core Points - The Star Princess, the second Sphere-Class ship in the Princess Cruises fleet, was officially delivered at Fincantieri Shipyard in Monfalcone, Italy, marking the completion of its construction [1][2] - The ship will set sail for Barcelona ahead of its inaugural voyage, which is an 11-day Western Mediterranean cruise starting on October 4, 2025 [2][5] - Star Princess has a capacity of 4,300 guests and features 30 dining and bar venues, along with unique amenities such as The Sanctuary Collection, which offers an elevated private escape at sea [3][4] Company Overview - Princess Cruises is recognized as a leading cruise brand, known for delivering dream vacations to millions in sought-after destinations with a focus on elite service and personalization [7][8] - The company is part of Carnival Corporation & plc, which is a major player in the cruise industry [8] Ship Features - Star Princess boasts over 1,500 balcony staterooms, providing guests with panoramic views [4] - Notable venues on the ship include The Dome, The Arena, The Piazza, and Spellbound by Magic Castle, enhancing the onboard experience [4] Future Voyages - After its Mediterranean debut, Star Princess will transition to Caribbean voyages from Ft. Lauderdale starting November 7, 2025, followed by an inaugural Alaska season [5]

Core Insights - The Star Princess, the second Sphere-Class ship from Princess Cruises, is set to debut on October 4, 2025, after successful sea trials [1][2] - The ship is designed to reduce emissions and is powered by liquefied natural gas (LNG), marking a significant advancement in environmental sustainability for the cruise industry [2][5] - Star Princess will feature 30 dining and bar venues, advanced entertainment options, and luxurious accommodations, catering to 4,300 guests [5][6] Company Overview - Princess Cruises is recognized as a leading cruise brand, known for delivering exceptional vacation experiences across various global destinations [8] - The company is part of Carnival Corporation & plc, which is publicly traded on NYSE and LSE [8] Technical Features - The vessel is equipped with two Azipod propulsion units for enhanced maneuverability and efficiency, along with four controllable pitch bow thrusters [3] - Star Princess has a gross tonnage of 177,800 tons and includes over 1,500 balcony staterooms for panoramic views [5][6] Inaugural Season - The inaugural season will include voyages to the Mediterranean, Caribbean, Panama Canal, and Alaska, with bookings currently available [7]

Core Insights - Princess Cruises is launching a new entertainment lineup aboard its Sphere-class ship, Star Princess, set to sail on October 4, 2025, featuring original theatrical productions, immersive concerts, and global performances [1][12] Entertainment Offerings - The ship will host two original theatrical productions: "Meridian," a cinematic spectacle exploring themes of love and fate, and "Illuminate," a circus-themed show that reveals wonder in the unexpected [3][4] - "Viva La Música," a high-energy celebration featuring Latin music, returns with choreography by Liz Imperio, known for her work with major artists [6] - The entertainment extends beyond traditional theater, including vibrant deck soirées, themed events, and a reimagined champagne waterfall experience [7] Unique Venues - The Dome will feature the Princess Cruises Candlelight Concert Series, offering a unique blend of classical music and storytelling in a candlelit setting [8] - The Piazza will serve as a lively hub for performances, including "Princess Jamz," showcasing the talents of the Princess World Orchestra [10] Special Events - The Celestial Champagne Soirée will debut in the Piazza, combining multimedia elements with the iconic Champagne Waterfall, enhancing the onboard experience [11] Ship Specifications - Star Princess is designed to accommodate 4,300 guests and has a gross tonnage of 175,500 tons, built by Fincantieri [12]

Financial Performance & Outlook - The company achieved record full-year operating results in 2024[2, 11] - The company expects 20% earnings growth in 2025[2, 16] - The company anticipates hitting the 2026 SEA Change EBITDA target one year early[2, 16, 45] - Q4 2024 adjusted EBITDA reached $1.22 billion, exceeding the guidance of approximately $1.14 billion[12] - Full year 2024 adjusted EBITDA reached $6.1 billion, outperforming the December guidance of approximately $5.6 billion by $500 million[13] - Full year 2024 adjusted net income reached $1.9 billion, exceeding the December guidance of approximately $1.2 billion by $700 million[13] Demand & Bookings - Net yields in FY 2024 increased by 11% compared to 2023, outperforming the December guidance of approximately 8.5%[13] - Adjusted cruise costs excluding fuel per ALBD in FY 2024 decreased by 3.5% compared to 2023, outperforming the December guidance of approximately 4.5%[13] - Customer deposits reached a record of $6.8 billion in 4Q 2024[40] Debt Management - The company achieved approximately 2.5 turn net debt to adjusted EBITDA improvement in 2024[44] - Debt prepayments exceeded $3 billion[44]