Match Plans $50 Million Product Investment After Upbeat Forecast
Third-quarter revenue is expected to range from $910 million to $920 million, the company said in a statement Tuesday, in part thanks to favorable foreign exchange rates. Analysts were expecting $889.8 million, according to Bloomberg-compiled data. Attaining the lower end of that range would mark the first positive quarterly revenue growth since the third quarter of last year.
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Skift
a few seconds ago
- Skift
Inside Royal Caribbean's Bold Plan to Transform the $2 Trillion Vacation Industry
Jason Liberty, President and CEO of Royal Caribbean Group, leads one of the most recognized and innovative brands in global travel. With more than 40% of guests new to cruising and millennials driving bookings, Royal Caribbean is reinventing vacations for the digital age. Under his leadership, Royal Caribbean, Celebrity Cruises, and Silversea are redefining cruising as a multi-generational, tech-enabled, experience-driven industry. At Skift Global Forum, Liberty will explore trends shaping the future of cruise travel, from digital transformation and AI integration to experiential luxury and cross-brand loyalty programs. 'It's that cruising isn't solely for a certain generation – it is a true multi-generational vacation offering and with itineraries to all 7 continents, it is the next experience you can't wait to collect and share,' Liberty says. 'Back in the 70s and 80s, vacation ideas came from magazines and a certain TV show that really drove cruise perceptions as a one-time special experience for an older demographic. Today, social media is blowing up these old perceptions. We're all endless dreamers now – chasing the next great moment, collecting experiences, and sharing it all instantly on our platform of choice.' Royal Caribbean's product innovation is redefining the category: Royal Caribbean: Star of the Seas combines Las Vegas-style entertainment, Broadway, all-inclusive resorts, and water parks while transporting guests to top destinations. Celebrity Cruises: Celebrity Xcel debuts this November with seven new onboard experiences. Silversea: Launching the world's southernmost hotel in Chile to enhance Antarctic expeditions. Liberty notes, 'Over 40% of our guests are new to cruising, half are millennials or younger, and more than half of millennials say they're more likely to cruise now than just two years ago.' What is Royal Caribbean's vision for the future of travel — and how are you leading or shaping it? 'Everything we are thinking about is in service of the guest experience. We're literally obsessed with deepening our relationship with each and every customer to deliver the best vacation responsibly – our mission,' he says. 'With today's rapidly advancing technology, the future of vacation travel will continue to be more personalized, more connected, and more experience-driven than ever. And we're building our business to reflect that with the creation of a modern digital travel platform designed to remove any friction in the process, making it easier than ever for guests to book and design their dream vacations.' Liberty highlights loyalty innovations: 'Last year, we reimagined our loyalty programs, creating reciprocity across all 3 lines and building a vacation lifecycle ecosystem. Now, your status with one brand will be recognized across all brands and there's nothing like it in our industry. Repeat bookings are already meaningfully rising and cross-brand loyalty is accelerating with nearly 40% of all bookings coming from our loyalty members who spend 25% more per trip.' 'Our goal with this program was to turn the vacation of a lifetime into a lifetime of vacations with us and it's working.' As AI and technology rapidly evolve, how are you integrating them into your business? 'We are infusing AI into almost everything we do in service of providing the best guest experience and making smarter decisions across the board from itinerary planning and pricing to guest personalization. We're also working toward a future where no two vacations are the same. Our goal is to anticipate what a guest wants before they even ask – from the type of stateroom they prefer, to the dining and experiences that best fit their interests.' He adds, 'Behind the scenes, AI is also helping us become more efficient and sustainable – reducing fuel consumption, improving maintenance cycles, and simplifying complex operations. It's not just a tech upgrade; it's changing how we run the business.' As the world becomes more digital, how do you see the human side of travel evolving? 'Our shoreside teams design unforgettable vacation experiences, and technology will continue to enhance the guest experience, but it's our crew who make impossible dreams possible every single day for our guests. I describe the ship as our canvas and our crew as the color and paint strokes that bring the vacation experience to life. They learn our guests' preferences, deliver surprise-and-delight moments, and create the emotional bonds that keep people coming back year after year. It's what turns a great vacation into lifelong memories. Our crew will always be the heartbeat of everything we do.' How are you approaching innovation differently today compared to three years ago? 'We all know that the speed of change will never be slower than today; and our teams understand that if we're not disrupting, we will be disrupted. So, we're moving faster, taking bigger swings, and putting more resources behind the ideas that will define the next decade. We wake up every day thinking about how to create and deliver the best vacation experiences at sea and on land.' 'We have an unmatched pipeline of innovation over the next three years – nine new ships, expanding our portfolio of private destination experiences from 2 to 7, launching a river cruise business line with our signature experience touches and there's more coming all designed to expand the idea of what a vacation can be.' Join Jason Liberty at Skift Global Forum Jason Liberty's session will give travel and hospitality professionals a front-row seat to future trends in the cruise industry, global travel insights, and hospitality innovation. Discover how AI, personalization, and experiential design are shaping the next decade of leisure travel. Reserve your spot at Skift Global Forum today and explore how to lead in the evolving travel landscape. Get Your Tickets Lock in the best rate now – transfer tickets later if needed. 🎟️ Final price: $3,695 (Solo), $3,495 (Group) 🗓️ Set a reminder before the next price jump 1 Person Solo Ticket $3,395 Buy Now 2-6 People Group Ticket From $3,195 Buy Now
CNN
2 minutes ago
- CNN
Crypto is booming. Washington is driving the rally
It's been a summer to remember for crypto. Bitcoin is eclipsing record highs, shares in crypto-related companies are soaring and Wall Street is rethinking its stance on the industry. Once on the fringes of finance, cryptocurrency is now being embraced by a growing base of enthusiastic investors — and that's driven in large part by the White House's support. It's integrating with traditional finance more than ever before, bolstered by sweeping legislative changes in Washington. For example, President Donald Trump recently issued an executive order that opened the door for digital assets like crypto to be included in 401(k)s. This boosted bitcoin — the world's largest cryptocurrency by market value — to a record high of $124,000 last week. Anything related to bitcoin has been on fire this year as investors continue to pour money into crypto-related companies. Meanwhile, skeptics who warn of crypto's flaws are raising concerns about heightened risks for consumers. Shares in Robinhood (HOOD), a trading platform that includes cryptocurrencies, have soared 200% this year. Coinbase (COIN), a crypto exchange, has gained 28%. Strategy (MSTR), a company that purchases bitcoin, is up 26% this year. And BitMine Immersion Technologies (BMNR), a company that mines bitcoin, has surged 625%. In comparison, the benchmark S&P 500 is up 10% this year. The Nasdaq 100, an index tracking the 100 largest tech companies in the United States, is up 13%. Crypto is climbing into unprecedented territory. Google is part of a multibillion-dollar deal with a bitcoin mining company called TeraWulf, helping drive enthusiasm about the industry. 'Institutional adoption and strategic infrastructure deals have propelled crypto markets well beyond summer expectations,' said Brian Dobson, head of disruptive technology equity research at brokerage firm Clear Street. 'We see this as the early stages of a broader cycle.' The current crypto mania has the makings of a classic speculative rally, supported by intense bullishness on tech, AI and crypto, according to Steve Sosnick, chief strategist at Interactive Brokers, a trading platform. 'The (Trump) administration proclaimed that it would be crypto-friendly,' Sosnick said. 'Markets have been very much willing to embrace speculation of any kind.' Circle (CRCL), a stablecoin issuer (a type of crypto coin), has surged 80% since it debuted on the New York Stock Exchange on June 5. The latest crypto-related company to debut on the New York Stock Exchange is called Bullish (BLSH). Retail investors have been big buyers. However, 9% of global fund managers surveyed by Bank of America in August had exposure to cryptocurrency. 'One factor is just pure excitement around the potential diversification of 401(k)s into alternative assets,' said Michael Green, chief strategist at Simplify Asset Management. 'The growing acceptance and awareness of crypto in that space has really powered flows into bitcoin in particular this year.' BlackRock has also propelled bitcoin's ascent. The asset management firm launched its own bitcoin exchange-traded fund in January 2024 after the Securities and Exchange Commission greenlit bitcoin-focused ETFs. The ETF is up 137% since its launch, and it's become the primary vehicle for investors to get exposure to bitcoin without purchasing the cryptocurrency, Green said. The S&P 500, in comparison, has gained 37% across the same period. Another crypto win came on July 18, when Trump signed the GENIUS Act into law, laying out regulations for stablecoins. Stablecoins are a type of crypto pegged to another asset, like the US dollar, to keep its value steady. The 'stable' value gives it potential use in digital payments. JPMorgan Chase CEO Jamie Dimon on his company's earnings call in July said the bank is going to be involved in stablecoins to 'understand it' and 'be good at it.' 'The way to be cognizant is to be involved,' Dimon said. 'We're going to be in it and learning a lot.' JPMorgan on July 30 also announced a partnership with Coinbase 'to make buying crypto easier than ever.' Beginning this fall, Chase customers will be able to fund their Coinbase accounts to purchase crypto with their Chase credit cards. With all the crypto changes this year, it's important for investors to 'seek as much education as possible' on new technologies and assets like bitcoin to better grasp 'all of the opportunities and risks involved,' said Chris Kuiper, vice president of research at Fidelity Digital Assets. The Trump family has been active in the crypto industry. World Liberty Financial, a company tied to the Trump family, has issued its own stablecoin. Treasury Secretary Scott Bessent on Thursday said in a social media post that the government aims 'to execute on the President's promise to make the United States the 'Bitcoin superpower of the world.'' While markets cheer developments in the space, others are warning of crypto's flaws and raising concerns about potential financial risks. The GENIUS Act, for example, has been heralded by proponents of the crypto industry. Yet some policy advocacy groups are drawing attention to what they call the lack of consumer protections. 'The GENIUS Act does not really offer much in the way of consumer or investor or financial stability protections beyond what already exists,' said Amanda Fischer, policy director at Better Markets, a nonprofit advocacy group. 'I do not think that this bill should be viewed as regulating stablecoins, so much as it is the government endorsing stablecoins and importing crypto risks into the regular financial system,' Fischer said.
New York Times
2 minutes ago
- New York Times
They Wanted More Space in Brooklyn. Now They Have Room for Chickens.
By the late 2010s, it was clear to Kaja Kühl and Jay Tsai that they needed more space. As their daughter grew from infant to toddler, their one-bedroom apartment in Fort Greene, Brooklyn, seemed to shrink. The most appealing move, they thought, would be to buy a townhouse where they could spread out, including with some outdoor space, and have more control in creating an energy efficient home. But they found that most townhouses were priced beyond their reach. 'We noticed that the kinds of places that were in our budget tended to be not brownstones,' said Ms. Kühl, 55, 'but the slightly older, wood-frame-on-a-brick-basement houses that were often in not such great shape.' Ms. Kühl, founder of the firm youarethecity and an instructor at the City College in New York and Columbia University, is deeply interested in sustainable building practices, and she saw advantages in the less popular homes. 'I knew they were easier to insulate well because you can put insulation within the wood frame,' as well as behind the exterior siding, she said. When she and Mr. Tsai, 62, a former financial adviser, found an ugly duckling townhouse in Prospect Heights, Brooklyn, they had their project. With a facade covered in vinyl siding and security grates, and an interior that had been sliced up into apartments, it needed a complete overhaul. Want all of The Times? Subscribe.
