Goldbelt and Royal Caribbean plan Juneau cultural cruise port Via Investing.com
JUNEAU – Goldbelt Incorporated, an urban Alaska Native company, has announced a partnership Royal Caribbean (NYSE: NYSE:) group to develop a new port on Douglas Island, Juneau, with the goal of reducing traffic congestion in the city and enriching the visitor experience with Tlingit cultural heritage.
The proposed marina will feature two floating cabins with views of the Chilkat Range, and guests will have the opportunity to immerse themselves in a reconstructed Tlingit settlement from the 1800s. Experiences will include traditional storytelling, art, song, dance, and food, connecting visitors with the history of the Goldbelt’s stockholders.
In addition to cultural enhancements, the port’s design aims to ease traffic congestion by rerouting about one-third of the bus traffic from downtown Juneau. Visitors will be shuttled directly from West Douglas Island to whale watching or to Mendenhall Glacier, reducing congestion on Franklin Street and Glacier Highway.
McHugh Pierre, President and CEO of Goldbelt, Inc., expressed the organization’s long-term goal of establishing a tourism destination on Douglas Island that honors Tlingit history. The partnership with Royal Caribbean Group is expected to address issues of local transportation and economic development.
The strategic placement of the port on Douglas Island is expected to support workforce housing and serve as a catalyst for the much-anticipated second Juneau-Douglas and Douglas Bench Road crossings. The port’s location on major shipping routes is also expected to provide environmental benefits by reducing travel time, speed, and fuel consumption for ships.
Preston Carnahan, AVP West Coast Destinations for Royal Caribbean Group, thanked the Juneau community and Goldbelt Incorporated for their collaborative effort to make these plans a reality. The partnership aims to strengthen Juneau’s status as the tourism capital of Alaska by providing guest experiences that are awarded for managing the destination with integrity.
This partnership marks the second project in Juneau where Goldbelt and Royal Caribbean Group have worked together to enhance the community and guest experience. They have previously offered public access to high-speed Starlink Wi-Fi.
The agreement appoints Port of Tomorrow and Turnagain Marine as the developer and co-builder for construction, respectively, of the facility for the 2027 Alaska cruise season. The information provided is based on a press release.
In other recent news, Royal Caribbean has been actively managing its debt portfolio through a significant financial program. The company completed $1.5 billion of senior notes and increased the private offering of senior unsecured notes from $1 billion to $1.5 billion. The proceeds from these contributions are intended to redeem existing debts and effectively manage the company’s debt profile.
In addition, Stifel, a financial services company, raised the price target for Royal Caribbean shares, maintaining a buy rating. This renovation follows the announcement of a new Perfect Day concept in Costa Maya, Mexico, set to open in 2027, which is expected to accommodate a larger number of guests compared to the existing CocoCay location.
Citi, the brokerage firm, also upgraded its rating for Norwegian Cruise Line (NYSE: ), indicating strong growth indicators for the cruise industry. Meanwhile, Tigress Financial Partners maintained a “Buy” rating on Royal Caribbean, citing the company’s continued profitability and cash flow growth.
These are some of the latest developments in the travel industry, especially related to Royal Caribbean.
InvestingPro Insights
Royal Caribbean Group’s (NYSE: RCL) partnership with Goldbelt Incorporated to develop a new port in Juneau is consistent with the company’s strong financial performance and market position. According to InvestingPro data, Royal Caribbean has shown impressive growth with an increase in revenue of 27.7% in the last twelve months from Q2 2024, reaching $ 15.33 billion. This expansion of new port locations may increase the company’s revenue and market presence in Alaska.
The tour’s strong financial health is reflected in its operating margin of 24.11% over the same period, which shows the efficiency that can support important investments like the Juneau harbor project. Additionally, Royal Caribbean stock has shown impressive performance, with a one-year price return of 134.02% as of the most recent data.
InvestingPro Tips highlights that Royal Caribbean is trading near its 52-week high, indicating investor confidence in the company’s growth strategies, including expansions such as the port of Juneau. The stock’s strong return in the past month and three months also suggests positive market sentiment about the company’s latest efforts.
It is worth noting that InvestingPro offers 13 additional recommendations for Royal Caribbean, providing investors with a comprehensive analysis of the company’s financial health and market conditions. This information can be especially useful for those interested in understanding the potential impact of projects such as the Juneau port development on Royal Caribbean’s long-term prospects.
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