Key Takeaways Royal Caribbean shows record 2026 bookings at high pricing, signaling strength without heavy discounting.CCL cut debt by over $10B, reached investment-grade leverage, and reinstated dividends heading into 2026.RCL's newer ships and expanding private destinations support yields, margins, and earnings visibility.As investors look toward 2026, the cruise sector has moved past survival mode and into a phase where execution matters most. Travel demand remains strong, pricing has held up, and ships ...