Royal Caribbean leans into shorter cruises, more experiences to capture travel demand
The cruise company is bringing Utopia, the world's second-largest ship with a maximum capacity of nearly 5,800 passengers, to market.
With consumers getting more selective on how and where they vacation, cruise lines are fighting for Americans' tourist budgets. Royal Caribbean thinks shortening trips and packing the days with activities and exclusive opportunities will keep customers hooked.
"I think we are an experience-driven mindset," Royal Caribbean CEO Jason Liberty told CNBC's "Squawk on the Street" this week. "Over half of our guests are actually millennials or younger, and when you survey those guests, about 42% of them say in the next 12 months their plans are to actually go on shorter vacation experiences."