The cruise industry is the fastest growing segment of the travel industry with more than a 2,100 percent growth since 1970. While new cruise lines have appeared, the existing cruise lines have expanded their itineraries to include more ports of call, convenient disembark ports, and innovation onboard with amenities and facilities. A huge contributor of the cruise industry is Carnival Cruise Lines. Carnival offers a variety of quality cruises and prides themselves on delivering memorable vacations to cruisers. They not only offer outstanding value, but fun!
Carnival Cruise Lines was founded by Ted Arison in 1972 who provided a solid foundation for the company’s future. With just enough fuel to make a one-way trip from Miami to San Juan, the Mardi Gras became the first ship of Carnival. Arison was said to have more than a contagious level of enthusiasm. He was always very confident and driven to remain focused on his goals. These traits allowed Carnival Cruise Lines to prosper out of the 1970’s. Arson eventually bought full ownership of Carnival for a dollar in cash but 5 million dollars in debt. Despite the struggles in the beginning, Carnival rose to be the world’s largest cruise operator.
Carnival Cruise Lines is a member of the exclusive World’s Leading Cruise Lines alliance with Holland America Line, Cunard Line, Princess Cruises, Seabourn Cruise Line, and Costa Cruises. The Carnival Corporation did not come into existence until 1994. In 1987 they made their first public offering of 20 percent of its common stock which allowed them to expand through acquisition. They created the world’s first global cruise operator in 2003 when they combined with P&O Princess Cruises plc.
Carnival Corporation and Carnival plc (UK based) operate a dual listed company. Both businesses are combined but they function as a single economic entity. Carnival Corporation common stock is traded on the New York Stock Exchange under the symbol CCL. As of March 28th, 2013 at 4:00 p.m. the price of the stock was $34.30 and the volume was 5,273,444. Carnival Corporation operates 100 ships with 7 ships schedules for delivery between now and 2016. Headquarters exist in Miami, Florida, and London.
Carnival Cruise Lines operates 24 of these 100 ships that voyage to The Bahamas, Caribbean, Mexican Riviera, Alaska, Hawaii, Canada, New England, Europe, Bermuda, South America, Panama Canal, and the Fiji Islands. Carnival ships are known as the “Fun Ships”. They offer day and nighttime entertainment including: live music, stage shows, comedy acts, spas, pools, waterslides, casinos, workout facilities, jogging tracks, and basketball/volleyball courts. They make their guests feel right at home with comfy accommodations, great service, and delicious food and drink. Their success ties to protecting the environment, safeguarding and developing their workforce, strengthening stakeholder relationships, enhancing the port communities, and maintaining their fiscal strength. They support a variety of charitable and art related organizations. In the past five years, Carnival has contributed more than 30 million dollars to local and national charities.
From 2008-2012 Carnival Cruise Lines received an array of awards, achievements, and accolades. They took first place honors in the Best New Ship (Carnival Breeze) and Best Bar (Alchemy Bar). Their Cloud 9 Spas were named Best Cruise Line Spa in 2011. They were big winners at the annual Cruise International Awards in Best Cruise Line, Best Innovation, and Best Cruise Blogger. Carnival won Best Entertainment for the 12th consecutive year and is among the industry leaders in the social media arena. They also won numerous awards in Best Cruise Line Value and Corporation of the Year.
The following will explain the strengths, weaknesses, opportunities, and threats of Carnival Cruise Lines. Keep in mind that the strengths and weaknesses exist within the company and are within their control,...