Carnival Corporation & plc began in 1972 when Ted Arison founded Carnival Cruise Line, introducing a converted ocean liner—named the “Mardi Gras”—to deliver shorter, affordable cruises that revolutionized vacation-style travel. The company went public in 1987 and soon restructured into a global holding group, expanding its portfolio through acquisitions: Holland America (1989), Seabourn (from 1993), Costa Cruises and Cunard (late 1990s), and the P&O Princess merger in 2003 created a powerhouse with nine distinct cruise brands. Today, Carnival operates nearly 100 ships under nine brands, shipping millions of passengers annually and reefing itself as the world’s largest leisure travel organization.
The group’s core business centers on passenger cruises, cruise tours, and onboard revenue streams, including lodging, F&B, excursions, and merchandizing. Its flagship brand, Carnival Cruise Line, offers “Fun Ships” notable for entertainment, dining, and the iconic red-white-blue whale-tail funnel, sailing from 50+ U.S. homeports to popular regions like the Caribbean and Bahamas. Other brands—from premium Princess to luxury Seabourn and European-focused Costa and AIDA—serve diverse customer segments across itineraries in Europe, Asia-Pacific, and beyond.
Carnival has been proactive in modernizing its fleet and destinations. It initiated its Excellence (Excel)-class program with dual-fuel LNG vessels, including Carnival Celebration and Jubilee, and recently ordered additional ships due 2027–2033 as part of its Project ACE initiative. The company also absorbed P&O Cruises Australia into the Carnival brand starting in 2025—adding Carnival Adventure and Encounter ships and enhancing efficiencies in the South Pacific. Technological and environmental upgrades including LED lighting, scrubbers, shore‐power installations, HVAC retrofits, biofuel trials, and Starlink satellite internet have cut emissions per berth by over 15–18% and targeted a 20% reduction by 2026—years ahead of schedule .
Carnival’s performance reflects strong demand, record bookings, and robust financial discipline. In Q2 2025, revenue reached $6.33 billion with net income of $470 million, allowing the company to raise its full-year earnings guidance and launch a $600 million private-resort venture, Celebration Key in the Bahamas. New loyalty programs and fleet enhancements are underway, with plans to introduce Carnival Rewards across cruises and Mastercard spending in 2026. With fleet growth paced at under 2.5% annually and a sharp focus on operational efficiency and capacity utilization, Carnival continues its leadership in global cruising—backed by strong bookings and fuel efficiency gains that help fund its growth and sustainability ambitions .