Princess Cruises is owned by Carnival Corporation & plc, the largest cruise operator worldwide. The acquisition occurred in 2003 through a $5.4 billion merger between Carnival Corporation and P&O Princess Cruises plc.
Princess Cruises deployed eight ships for Alaska 2026, the brand’s largest season. Star Princess entered service in October 2025 as the second Sphere Class vessel. The fleet reaches over 330 destinations across global markets.
Key Stats
Who Owns Princess Cruises
Carnival Corporation & plc maintains complete ownership of Princess Cruises through a dual-listed company structure trading on the New York Stock Exchange under ticker symbols CCL and CUK.
Princess operates as one of nine brands within the Carnival portfolio. The ownership structure dates to April 2003, when Carnival finalized its $5.4 billion merger with P&O Princess Cruises plc. Princess maintains operational independence while benefiting from Carnival’s corporate resources and purchasing scale.
How Did Princess Cruises Get Its Name
Stanley McDonald chartered Princess Patricia for Mexican Riviera cruises in 1965. The vessel belonged to Canadian Pacific Limited and operated Alaska routes during summer months.
McDonald appreciated the elegant sound of the name and built his company’s identity around “Princess.” The designation conveyed luxury without requiring extensive marketing explanation.
Princess Patricia lacked air conditioning for warm weather. McDonald replaced it with Italia but retained the Princess brand name. This naming decision proved successful when The Love Boat television series featured Pacific Princess from 1977 to 1986, establishing Princess as a household name.
Origin, Founders And Early Years
Stanley McDonald founded Princess Cruises in 1965 after gaining experience from the 1962 Seattle World’s Fair, where he converted ships into floating hotels.
McDonald served in the United States Navy Air Corps before entering business. He launched operations by chartering Princess Patricia from Canadian Pacific Limited for Mexican Riviera routes from Los Angeles.
By 1974, McDonald sold Princess to Britain’s Peninsular & Oriental Steam Navigation Company. Under P&O ownership, the company expanded and built its first owned vessel. McDonald passed away in 2014 at age 94.
Princess Cruises Mission Statement
Princess Cruises positions itself as “The Love Boat” delivering dream vacations to millions annually. The company combines large ship resources with personalized service through MedallionClass technology.
The mission focuses on creating connections through travel to destinations including Alaska, the Caribbean, Mediterranean, Asia, and Antarctica. Princess targets travelers seeking premium experiences without ultra-luxury pricing, distinguishing it within Carnival Corporation’s nine-brand portfolio.
Largest Shareholders Of Princess Cruises
Institutional investors control approximately 75 percent of Carnival Corporation shares. The Vanguard Group maintains the largest position at 10 percent ownership.
Micky Arison holds 7.2 percent of common stock as the second-largest individual shareholder. Arison serves as board chairman and previously led the company as CEO from 1979 to 2013. BlackRock Inc. owns approximately 6.5 percent, representing another major institutional position.
Individual retail investors own roughly 17 percent of shares. The top 19 shareholders collectively control about 51 percent of outstanding shares. No single entity holds majority control. Carnival plans to unify its dual-listed structure in 2026, simplifying ownership under Bermuda incorporation.
Princess Cruises Company History Timeline
Who Is On The Board Of Directors For Princess Cruises
Princess Cruises operates under Carnival Corporation’s board structure rather than maintaining a separate board.
Corporate Leadership
Micky Arison chairs Carnival Corporation’s board. Josh Weinstein serves as CEO, leading strategy since 2022. David Bernstein holds the CFO position since 2007.
Independent Directors With Industry Expertise
Sir Jonathon Band brings 42 years of British Navy experience. Randall Weisenburger serves as senior independent director and chairs the compensation committee, bringing Goldman Sachs financial expertise.
Directors With Global Business Background
Stuart Subotnick chairs nominating and governance committees. Nelda Connors joined in 2024 from regulated industries. Richard Cahilly offers media and technology sector perspectives.
Operational And Financial Directors
Laura Mathew brings technology expertise from international companies. Katie Lahey contributes tourism and cruise industry knowledge. The board ensures diverse perspectives guide all nine brands.
Princess Cruises Products And Services
Princess offers cruise vacations from seven-day Caribbean sailings to 111-day world cruises. The company operates across all major regions with particular strength in Alaska deployment similar to how major hospitality companies maintain global presence.
MedallionClass technology defines the modern Princess experience. Guests receive a wearable device enabling contactless boarding and personalized service delivery anywhere onboard through the OceanMedallion platform.
Dining includes complimentary restaurants and specialty venues like Crown Grill steakhouse and Sabatini’s Italian restaurant. Princess Tours operates Alaska land extensions combining cruises with hotel stays, rail journeys through glass-domed cars, and guided excursions.
Entertainment features Broadway-style shows, movies under the stars, and The Dome glass-roofed venue on newer ships. Shore excursions receive a best-price guarantee. These services position Princess between contemporary brands and luxury hospitality providers.
FAQ
What is the net worth of Princess Cruises?
Princess Cruises does not report separate net worth as it operates under Carnival Corporation. Carnival Corporation recorded an estimated net worth of $20.99 billion.
Is Princess Cruises still operational?
Princess Cruises remains fully operational with 17 ships serving global itineraries. The company announced its largest Alaska season for 2026 with eight vessels deployed.
When did Princess Cruises come out?
Princess Cruises launched in 1965 when founder Stanley McDonald chartered Princess Patricia for Mexican Riviera cruises from Los Angeles during winter months.
Princess Cruises market cap in 2026?
Princess Cruises does not trade separately. Parent company Carnival Corporation reached a market capitalization of $40.04 billion as of January 2026.
Is Princess Cruises an American company?
Princess Cruises maintains American headquarters in Santa Clarita, California. The company is incorporated in Bermuda under Carnival Corporation ownership structure.
Who owns Princess Cruises?
Carnival Corporation & plc owns Princess Cruises following the 2003 merger with P&O Princess Cruises. The company operates Princess as one of nine cruise brands.