Royal Caribbean Group’s CFO Naftali Holtz said that capacity in the Caribbean for the company has grown as it holds a strong position in the region.

During the company’s 2025 third-quarter earnings call, Holtz said: “As expected, capacity growth in the fourth quarter is driven by new ships, the Star of the Seas and Celebrity Xcel, as well as additional APCDs due to lower drydock days compared to 2024.”

The Caribbean accounted for 57 percent of the company’s deployments in 2025 and 63 percent of its capacity in the fourth quarter.

“(We) are advancing a series of strategic initiatives to reinforce that. These include industry-leading hardware, shorter and longer attractive itineraries, the upcoming Royal Beach Club Paradise Island and Perfect Day Mexico,” added Holtz.

“Our Caribbean capacity is up 6 percent for the year and 10 percent in the fourth quarter, and even with capacity growth in the region, we see continued yield growth, with Caribbean yields in the fourth quarter expected to be up 37 percent compared to the fourth quarter of 2019,” he added.

According to Holtz, the company’s Caribbean capacity will account for about 57 percent of its deployment in 2026, and the group has continued to add shorter itineraries to build on the success seen in recent years.

The company highlighted that while an increased supply in the Caribbean has been well known for a while, the region has been working incredibly well for the group.

It explained that the increase is manageable due to its differentiated assets, its ships and its own private destinations, as well as its ability to retain guests within its ecosystem, and that the group is seeing a draw from other ecosystems it can manage.