Global talent pool helped the company avoid staffing issues in the United States – .

Global talent pool helped the company avoid staffing issues in the United States – .

Royal Caribbean CEO Richard Fain told CNBC on Friday that his company had not suffered much from staffing issues in the United States, as the cruise line relied on a global talent pool.
In an interview with “The Exchange”, Fain said jobs at Royal Caribbean are “so desirable” for foreign workers that hiring is easy, at a time when other companies in the hospitality industry are struggling. to fill vacancies.

“We had virtually no problem attracting… talent,” Fain said. “The people who provide the service are what make the business successful. These are the ones customers love. “

“We had no difficulty recruiting and… I think it’s because we’re just seen as such an attractive job for people around the world,” he said.

The cruise industry has been crippled by the Covid pandemic, forcing Royal Caribbean and competing operators to look to the debt market to stay afloat. In the release of its third quarter results earlier Friday, Royal Caribbean said it has long-term debt of $ 19.88 billion.

However, Fain said the company was “in the process of reducing” its debt and had recently reduced some of its most expensive debt in a bid to eliminate any debt associated with the pandemic over the next two years.

Royal Caribbean resumed departures from US ports this summer after an extended hiatus from Covid. “Bookings this year have continued to be low,” Fain acknowledged, adding that they will be stronger during the holidays later this year, as is generally the case.

“But next year, bookings are remarkably strong,” Fain said.

Royal Caribbean shares were essentially flat on Friday afternoon after the company missed Wall Street expectations in its quarterly results.


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