Case Study of Carnival Corporation - 1585 Words

The history of the Carnival Corporation begins in 1972, when Ted Arison set up Carnival Cruise Lines as a subsidiary of the American International Travel Service. The first ship ran aground, but Arison remained steadfast in achieving his vision of a cruise line offering affordable vacation packages to middle-income consumers. By 1977, Carnival had three ships, and ten years later, as the industry leader, the company went public. In the early 1990s, Carnival began to diversify into land-based entertainment, thus changing its name to Carnival Corp. The company is the worlds #1 cruise operator with about a third of the market. Carnival Corporation is comprised of Carnival Cruise Lines; the worlds largest cruise line based on†¦show more content†¦The company took a $135 million write-off for that year. When Carnival acquired Holland America Lines, it borrowed $375 million. In order to finance the borrowing, it issued Convertible Subordinated Notes (4 1/2 percent) to raise $113 million to repay various bank loans and issued more than 5.6 million shares Class A Common stock to increase capital. And when Carnival acquired a 29.5% equity interest in Airtours for approximately $307 million, the company entered into an unsecured five-year $200million multi-currency revolving credit facility and funded about $163 million of the acquisition cost through this facility. Opportunities. In general, the cruise industry will continue to search for innovative ways to increase passenger volumes, on-board expenditures and ancillary revenue streams. The keys to the cruise experience appeal include the predictability of travel cost and the ease of the vacation decision. A telephone call to a single entity - and one check - will reserve a vacation, which at a minimum typically includes on-board dining, entertainment, childrens programming, accommodations, and airfare to and from points of embarkment. In addition, cruise ships have greatly improved the quality of on-board experiences with more diverse food and beverage venues, entertainment and deck activities, meeting and conferenceShow MoreRelatedCarnival Corporation Case Study2234 Words   |  9 PagesIntroduction Carnival Corporation as the largest cruise line in the world is being a leader and innovator in the cruise line industry. Many of the onboard activities and services were introduced to strengthen the competencies between competitors. The challenges of the Carnival were being overcome by the management with creative and innovative strategies. As a corporate entity, Carnival did not refuse to withdraw money to settle the ocean pollution charged by public. The expansions of cruise lineRead MoreCarnival Cruise Line Case Study1584 Words   |  7 PagesManagement 479 10 October 2014 FINAL EXAM: Carnival Cruise Line Case Study Carnival Cruise line has done a tremendous job â€Å"staying afloat† during the past recession where vacations and luxury items have suffered. Currently trading on the New York Stock Exchange (NYSE) at $35.51 per share with a total volume at 6.2 million, this global cruise lines is one of the largest vacation companies in the world. With multiple cruise brands under the Carnival umbrella, Carnival has diversified globally and provenRead MoreCRISIS COMMUNICATIONS ACTIONS OF CARNIVAL CORPORATION AFTER THE COSTA CONCORDIA CRISIS AND THE IMPACT ON COMPANIES REPUTATION4255 Words   |  18 Pages CRISIS COMMUNICATIONS ACTIONS OF CARNIVAL CORPORATION AFTER THE COSTA CONCORDIA CRISIS AND THE IMPACT ON COMPANIES REPUTATION Student: ------------------------ Lecturer: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ In reacent history, corporate crises have received high media attention and demonstrated the impact that a disaster can have on a company’s reputation. This essay evaluates the crisis communication strategy of Carnival Corporation plc after the sinking of the Costa ConcordiaRead MoreProj587 Course Project rough draft b Essay7672 Words   |  31 PagesSummary 3 Organizational Strategic Plan 3 Strategic Action Plan 6 Organizational Capacity Plan 6 Portfolio Management Processes 7 Project Selection Criteria 8 Program Management Plan 10 Change Management Plan 14 Bibliography 17 Executive Summary Carnival is â€Å"The World’s Most Popular Cruise Line† with 24 â€Å"Fun Ships† operating voyages ranging from three to 16 days in length to the Bahamas, Caribbean, Mexican Riviera, Alaska, Hawaii, Canada, New England, Europe, and Bermuda. Carnival’s success is attributedRead MoreCosta Concordia1958 Words   |  8 Pagesnew experience. Costa Concordia was the largest passenger ship to sail under the Italian flag, which was owned by the group of companies called Carnival Plc. 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