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Royal Caribbean International CEO Adam Goldstein weighs in on the state of business.
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-- -- -- -- so my lessons of the companies that even now we have this slow economic recovery it seems to still be smooth Sam for the cruise industry.
So let's given and the competitive edge in the vacation industry joining us now Adam Goldstein CEO of Royal Caribbean international.
Even -- the Costa Concordia accident in January.
-- -- -- filled.
-- we've been pretty successful partnerships -- It's not quite -- -- that we thought we -- gonna happen a cash payment to the turn of the year thinking things were really good shape from an occupancy and pricing standpoint the accident has had an effect on the market by 32 people were killed so you can understand how people will as a as a very -- a tragic situation and it's a situation that requires our industry to really continue to step forward in in doing safety advances and making sure the public understands what a safe choice that is for the great value was really what people.
Our are keeping in mind.
The base its have basically pay one Grayson since it's one stop shopping you get everything you want is that the big selling point.
Yes there's that there's a better control over what your vacation expenditure will be.
When you have your accommodations your food and beverage if you put your dining and your entertainment included in the ticket purchase.
But yet we have unemployment eight point 2% -- or GDP that one point 9% it's still a big chunk of change to -- -- a -- for a week.
Well one of them big misconceptions about cruising is that people think it costs a lot more than it does fortunately for us we have travel agents were able to give -- the message to consumers that that cruising really is it.
A value and an affordable price so.
In a world where there's a lot of stress.
This is one opportunity to reduce it.
For a week -- is it because people are leaving from the ports.
-- closer to their homes so therefore then that by avoiding the airline ticket.
Yeah that's an excellent points one of transit cruising in recent years is that there aren't cruise ship departures from all around the coast of the United States and it's much easier to get -- -- without going on.
An airplane and in fact that's happening all over the world where we're putting cruises and reach -- population centers.
I know you extending into China -- also though.
Very heavily in Europe have happen.
-- -- -- They're European cruises have been the ones that have felt the most impact sent both from concordia and from the economic situation there but it's a great vacation market you know people of loads of vacation time there and they're gonna continue to -- holiday am glad that a lot of time on the China is someplace that definitely has momentum for the cruise industry and -- just -- we'll have a second large -- -- next.
Let's talk quickly you're headquartered in Miami -- so that means you have.
Employees that you have to ensure we -- -- healthcare ruling today how does that affect your business -- Well we're fortunate as a company that the impact of the legislation on our company is relatively minimal.
What I would like to thank -- -- of that.
We just have a robust health insurance coverage of our employees in place has been for years and so the the -- impact of of the legislation's fairly minimal for us it's it's it's nothing material for the company.
What I would like to think no effect going on cruises in.
That is called preventive care -- thank you for being with us -- Adam Goldstein.
