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Carnival Corporation


2019 Vault Rankings

At a Glance


Excellent benefits, including travel and cruise discounts

Reputation as a leading cruise-line


Shipboard positions require long hours and being away from family for long periods of time

The Bottom Line

Leading cruise-line operator that employs over 35,000 people and serves over 4.1 million customers.

About Carnival Corporation

Carnival Corporation offers a boatload of fun. The company is the world's #1 cruise operator, boasting nine leading cruise lines and more than 100 ships with a total passenger capacity of more than 235,000. Carnival operates in North America primarily through its Princess Cruise Line, Holland America, and Seabourn luxury cruise brand, as well as its flagship Carnival Cruise Lines unit. Brands such as AIDA, P&O Cruises, Iberocruceros, and Costa Cruises offer services to passengers in Europe, and the Cunard Line runs luxury trans-Atlantic liners. Carnival operates as a dual-listed company with UK-based Carnival plc, forming a single enterprise under a unified executive team.


Carnival's four reportable segments include NAA cruise operations, EA cruise operations, Cruise Support and, Tour and Other.

NAA manages operations in North America and Australia, which  includes Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia) and Seabourn. The segment accounts for around 65% of revenue.

Accounting for almost 35% of revenue, the EA segment operates in Europe and Asia which includes Costa Cruises, AIDA Cruises, P&O Cruises and Cunard. 

The company's Cruise Support segment includes its portfolio of leading port destinations and other services, all of which are operated for the benefit of their cruise brands. 

The Tour and Other segment represents the hotel and transportation of Holland America Princess Alaska Tours and other operations.

Geographic Reach

Carnival's global headquarters are located at Miami, Florida. The company has shore-side location at Genoa, Italy for Costa and AIDA; Santa Clarita, California for Princess Cruises, Holland America Line, and Seabourn; Almere, Netherlands for Arison Maritime Center; Rostock, Germany for Costa and AIDA; Seattle, Washington for Princess Cruises, Holland America Line and Seabourn; Southampton, England for Carnival plc, P&O Cruises (UK) and Cunard; Hamburg, Germany for Costa and AIDA; Sydney, Australia for Princess Cruises and P&O Cruises; and Shanghai, China for Costa operations.

Carnival's largest market is North America, which represents more than 50% of sales. Other major markets include Europe (more than 30%), and Australia and Asia (almost 15%).

Sales and Marketing

Carnival's global headquarters are located at Miami, Florida. Major operations are in city-ports like include Seattle (USA), Genoa, Santa Clarita, Almere (the Netherlands), Rostock (Germany), Southampton (the UK), Hamburg (Germany), Sydney (Australia), and Shanghai (China). 


Carnival's largest market is North America, which represents more than 50% of sales. Other major markets include Europe (more than 30%), and Australia and Asia (almost 15%).

Financial Performance

Carnival's revenue has been on an upward trend in the last five years, increasing from $15.8 billion in 2014 to $18.8 billion in 2018. A $1-billion increase in passenger ticket sales boosted revenue by 8%. This was driven primarily by price improvements in European, Australian, and Chinese operations as well as in net favorable foreign currency exchange rate. 

Carnival's net income spiked 21% to $3.1 billion, its highest profit ever, to grow for the fifth consecutive year. The growth came mostly from the absence of $89 million charged in 2017 in depreciation and amortization costs.

Cash holdings improved from $395 million in 2017 to $982 million in 2018. While Operations generated $5.5 billion in positive cash inflows, investments utilized $3.5 billion and a further $1.4 billion went towards financing activities. The company issued $2.5 billion in long-term debt in 2018, more than the preceding two years combined. 


Carnival has remained the top player in the commercial cruise ship space for over a decade. Its strategy has included spending top dollar on brand recognition through innovative marketing campaigns and adding on new fleets and routes. 

Carnival uses easily recognizable celebrities (from Oprah Winfrey to Her Majesty the Queen) and highly popular on-air time slots (including The New Celebrity Apprentice and The Ellen DeGeneres Show) to reach some 400 million commercial viewers. It also has its own proprietary travel shows like Voyager with Josh Garcia and Ocean Treks with Jeff Corwin

Fleet replenishment has been a company priority. In five years, 12 state-of-the-art, larger, more efficient vessels replaced nine older ships, reducing costs by $350 million. The company's ultimate strategic goal is attracting new passengers and retaining existing passengers. 

Carnival is actively expanding its destination offerings to attract more customers. A new location in Amber Cove was also opened, and new terminals welcomed tourists in Barcelona and Dubai. Carnival also has a joint venture agreement with China State Shipbuilding Corporation to create a local cruise operating company that will assist in creating a cruise industry in China. The company is aiming for a net capacity growth of 5%, compounded annually.

However, recent instances of gastrointestinal illness (500 people got sick aboard a Royal Caribbean cruise liner in 2019) may affect the cruise industry in general. 

Company Background

Carnival Corporation was incorporated in Panama in 1972 and Carnival plc was incorporated in England and Wales in 2000, operating as a dual-listed company.

Carnival Corporation

3655 NW 87TH AVE
Doral, FL 33178-2418
Phone: 1 (305) 599-2600

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: CCL
Stock Exchange: , NYSE
Chairman: Micky Arison
CFO and Chief Accounting Officer, Carnival Corporation & plc: David Bernstein
President and CEO: Arnold W. Donald
Employees (This Location): 1,000
Employees (All Locations): 102,000

Major Office Locations

Doral, FL

Other Locations

Anchorage, AK
Fairbanks, AK
Juneau, AK
Skagway, AK
Long Beach, CA
Doral, FL
Fort Lauderdale, FL
Miramar, FL
Fairborn, OH
Tulsa, OK
Seattle, WA