Royal Caribbean Group reported $17.18 billion in revenue for the twelve months ending June 2025, representing a 12.09% year-over-year increase.
Celebrity Cruises operates 15 ships as of 2025, with Celebrity Xcel scheduled to join the fleet in November 2025.
Royal Caribbean Group stock is owned 78.67% by institutional shareholders and 8.55% by Wilhelmsen A.S., the largest individual shareholder.
The company delivered vacations to 2.3 million guests in Q2 2025, achieving a load factor of 110%.
Celebrity Cruises is owned by Royal Caribbean Group, a publicly traded vacation company listed on the New York Stock Exchange under ticker symbol RCL. Royal Caribbean Group acquired Celebrity Cruises in 1997, integrating it into a portfolio that includes Royal Caribbean International and Silversea Cruises.
The cruise line continues to expand its fleet and destinations under Royal Caribbean Group ownership. In 2025, Celebrity introduced its newest Edge Class ship, Celebrity Xcel, featuring innovative flex fuel engines capable of running on three different fuel types including methanol. The company maintains its Miami headquarters while operating globally across 290 destinations in 70 countries. Laura Hodges Bethge serves as President and CEO of Celebrity Cruises since May 2023, leading the brand’s strategic direction within the larger Royal Caribbean Group structure.
Who Owns Celebrity Cruises?
Royal Caribbean Group Ownership Structure
Celebrity Cruises operates as a wholly owned subsidiary of Royal Caribbean Group. The parent company holds complete ownership of the cruise line, maintaining full control over strategic decisions, operations, and brand development. This ownership structure has remained unchanged since the 1997 acquisition.
Royal Caribbean Group trades publicly on the New York Stock Exchange, meaning ownership ultimately rests with shareholders who hold RCL stock. The company operates multiple cruise brands under this structure, including Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.
The 1997 Acquisition Details
Royal Caribbean purchased Celebrity Cruises from the Chandris Group in 1997, marking a significant expansion in the cruise industry. The acquisition brought Celebrity’s fleet and upscale brand positioning into Royal Caribbean’s portfolio. This strategic move allowed Royal Caribbean to compete across different market segments while maintaining distinct brand identities for each cruise line.
History of Celebrity Cruises Co-founders
The Chandris Family Legacy
The Chandris Group founded Celebrity Cruises in 1988, building on generations of shipping expertise. This Greek family-owned company had operated in maritime transportation for decades before entering the cruise industry. The Chandris family recognized an opportunity to create a cruise line offering refined service at accessible price points.
John Chandris and his family established Celebrity with a vision distinct from existing cruise operators. They focused on delivering upscale experiences without luxury pricing, targeting travelers seeking sophistication and quality. The family invested in creating a brand identity centered on modern design, exceptional dining, and attentive service.
Building the Brand Foundation
The founders launched Celebrity with their first ship, Horizon, in 1990. They followed with Zenith in 1992, establishing the brand’s reputation for stylish vessels and quality service. The Chandris family maintained ownership until selling to Royal Caribbean in 1997, at which point Celebrity had proven its market viability and brand strength.
Celebrity Cruises Fleet Growth Timeline
1990 2 ships
2000 6 ships
2010 10 ships
2020 14 ships
2025 15 ships
Largest Shareholders of Celebrity Cruises
Institutional Investors
Institutional shareholders hold approximately 78.67% of Royal Caribbean Group stock, making them the dominant ownership group. These large financial institutions invest on behalf of pension funds, mutual funds, and other collective investment vehicles. The Vanguard Group stands as the largest institutional shareholder, holding significant voting power in company decisions.
Capital Research & Management Company and BlackRock Inc. rank among the other major institutional investors. These organizations typically maintain long-term positions, providing stability to the shareholder base. Their substantial holdings give them influence over corporate governance through proxy voting on board elections and major strategic decisions.
Wilhelmsen A.S. Major Stake
Wilhelmsen A.S., a Norwegian family-owned investment company, holds the largest individual shareholder position at 8.55% of Royal Caribbean Group. This stake represents 23.21 million shares valued at approximately $7.76 billion as of recent filings. Thomas Wilhelmsen serves on the Royal Caribbean Group board of directors, representing this significant ownership interest.
The Wilhelmsen family has maintained this investment for decades, demonstrating commitment to the cruise industry. This long-term shareholding provides continuity in ownership and aligns with management’s strategic vision. The family’s shipping and maritime background makes them particularly suited as major investors in cruise operations.
Retail and Individual Investors
Individual retail investors own approximately 21.52% of Royal Caribbean Group shares. These shareholders range from small individual investors to high-net-worth individuals managing personal portfolios. The company offers shareholder benefits, including onboard credits for stockholders who own at least 100 shares at time of sailing.
This shareholder benefit program creates loyalty among retail investors and encourages long-term holdings. Shareholders can use credits on Celebrity Cruises, Royal Caribbean International, and Silversea sailings. The program demonstrates how the company maintains relationships with its diverse investor base.
Royal Caribbean Group Ownership Distribution
Institutional Investors: 78.67%
Retail & Individual: 21.52%
Wilhelmsen A.S.: 8.55%
Company Insiders: 7.05%
Who is on the Board of Directors for Celebrity Cruises?
Executive Leadership
Jason Liberty serves as Chairman and CEO of Royal Caribbean Group, assuming the chairman role in Q4 2025 after previously serving as President and CEO since January 2022. He oversees all strategic decisions affecting Celebrity Cruises and the broader corporate portfolio. Liberty joined Royal Caribbean Group in 2005 and held various finance and strategic positions before becoming CFO in 2013.
Richard Fain remains on the board as a director after stepping down as Chairman in Q4 2025. Fain served as Chairman since 1988 and CEO from 1988 through January 2022, making him one of the longest-serving leaders in the cruise industry. His continued presence on the board provides valuable institutional knowledge and industry expertise.
Independent Directors and Governance
John Brock serves as Independent Lead Director, having joined the board in February 2014. He chairs the Nominating and Corporate Governance Committee and brings extensive consumer goods experience from his tenure as Chairman and CEO of Coca-Cola Enterprises and CEO of InBev. His background in global operations and brand management proves valuable for overseeing cruise brands.
Thomas Wilhelmsen represents the Wilhelmsen family interests as a board member. He serves as Chairman of AWAS Holding AS, the holding company for the Awilhelmsen group. His maritime and shipping expertise adds relevant industry knowledge to board discussions. The board maintains between ten and fifteen directors according to corporate governance guidelines.
Financial and Operational Expertise
Naftali Holtz serves as Chief Financial Officer of Royal Caribbean Group, responsible for financial planning, treasury, tax, investor relations, and accounting. He previously worked as managing director at Goldman Sachs, heading lodging and leisure investment banking. His Wall Street background strengthens the company’s financial strategy and capital allocation decisions.
The board structure includes several committees covering audit, compensation, nominating and corporate governance functions. Directors bring diverse expertise from technology, finance, consumer goods, and hospitality sectors. This varied background ensures comprehensive oversight of a complex global vacation company.
Brand-Specific Leadership
Laura Hodges Bethge leads Celebrity Cruises as President and CEO since May 2023, reporting to the Royal Caribbean Group executive team. She succeeded Lisa Lutoff-Perlo and previously held various leadership roles within Royal Caribbean Group. Her responsibilities include brand strategy, ship deployment, guest experience innovation, and commercial performance for Celebrity Cruises specifically.
Michael Bayley serves as President and CEO of Royal Caribbean International, the flagship brand. The separate brand leadership structure allows Celebrity Cruises to maintain its distinct identity while benefiting from shared resources and corporate support. This approach has proven effective since the 1997 acquisition, preserving what made Celebrity successful while enabling growth.
FAQs
Is Celebrity Cruises owned by Royal Caribbean?
Yes, Royal Caribbean Group owns Celebrity Cruises as a wholly owned subsidiary since acquiring it in 1997 from the Chandris Group.
When did Royal Caribbean acquire Celebrity Cruises?
Royal Caribbean acquired Celebrity Cruises in 1997, integrating the upscale cruise line into its portfolio alongside Royal Caribbean International.
Who are the largest shareholders of Celebrity Cruises parent company?
Wilhelmsen A.S. is the largest individual shareholder at 8.55%, while Vanguard Group, BlackRock, and Capital Research & Management lead institutional ownership.
Who founded Celebrity Cruises originally?
The Chandris Group, a Greek shipping family, founded Celebrity Cruises in 1988 before selling to Royal Caribbean in 1997.
Who is the current CEO of Celebrity Cruises?
Laura Hodges Bethge serves as President and CEO of Celebrity Cruises since May 2023, succeeding Lisa Lutoff-Perlo in the role.
