Who Owns Princess Cruises?
Princess Cruises is owned by Carnival Corporation, the world's largest cruise company, listed on the New York Stock Exchange under the ticker CCL. Carnival acquired the line through its 2003 combination with P&O Princess Cruises. Founded in 1965 by Stanley B. McDonald and headquartered in Santa Clarita, California, Princess operates 17 ships including the Sphere-class vessels Sun Princess and Star Princess.
Parent Company
Acquired
2003
Status
Publicly Traded
Headquarters
Princess Cruises Timeline
Who Owns Princess Cruises?
- Parent Company: Carnival Corporation
- Ownership Type: Wholly owned
- Acquisition Year: 2003
- Company Type: Publicly Traded
- Stock Ticker: NYSE: CCL
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Princess Cruises | Carnival Corporation | Wholly owned |
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History of Princess Cruises
- Founded: 1965
- Founders: Stanley B. McDonald
- Acquired by Carnival Corporation: 2003
Stanley B. McDonald founded Princess Cruises in 1965, chartering a single ship, the Princess Patricia, to run winter cruises from Los Angeles to the Mexican Riviera when the Alaska season ended. A second chartered vessel, Princess Italia, followed in 1967, and the first purpose-owned ship, Island Princess, arrived in 1972.
The brand's defining moment came in 1977 when it allowed its Pacific Princess to serve as the set for the ABC television series The Love Boat. The show ran for nine seasons and turned cruising into an aspirational mass-market vacation. Princess became synonymous with the program, a marketing association the company still invokes.
P&O acquired Princess Cruises in 1974, bringing the line under British ownership while retaining its Los Angeles operations. Under P&O, the fleet expanded through the 1980s and 1990s with ships such as Royal Princess and the Grand-class vessels, which at launch ranked among the largest cruise ships in service.
In 2000, P&O spun off its cruise business as P&O Princess Cruises plc. Two years later, P&O Princess agreed to merge with Royal Caribbean Cruises. Carnival Corporation launched a hostile counteroffer, and after months of regulatory review and shareholder maneuvering, the Carnival combination closed in April 2003, creating a dual-listed company operating on both the NYSE and London Stock Exchange.
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Under Carnival, Princess continued growing through the Royal class ships beginning with Royal Princess in 2013, christened by Catherine, Princess of Wales. The Medallion wearable device, introduced in 2017, became the line's signature technology for boarding, dining, and onboard service.
The pandemic era brought the brand's most difficult chapter. The Diamond Princess outbreak off Yokohama in February 2020 was the first major COVID-19 incident on a cruise ship and drew global coverage. Fleet operations resumed in 2021.
The newest era began with Sun Princess in 2024, the line's first LNG-powered ship and the lead vessel of the Sphere class. Star Princess followed in October 2025, christened by Camila and Matthew McConaughey. In April 2026, Carnival ordered three Voyager-class ships for the brand, extending its build pipeline into the next decade.
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About Carnival Corporation
What does Carnival Corporation own?
Carnival Corporation owns a portfolio of eight cruise line brands: Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises, and Cunard. The company previously operated P&O Cruises (Australia) but sunset the brand in 2025, folding operations into Carnival Cruise Line. The company operates over 90 ships globally and owns exclusive destinations including Celebration Key and RelaxAway, Half Moon Cay.
Is Carnival Corporation publicly traded?
Yes. Carnival Corporation & plc is publicly traded with a dual listing on the New York Stock Exchange (NYSE: CCL) and the London Stock Exchange (LSE: CCL). In December 2025, the company announced plans to simplify to a single NYSE listing by converting Carnival plc shares one-for-one into Carnival Corporation shares and reincorporating in Bermuda as Carnival Corporation Ltd. Completion is expected in Q2 2026.
Who founded Carnival Corporation?
Carnival Corporation was founded in 1972 by Ted Arison as Carnival Cruise Line. The company went public in 1987 and adopted the Carnival Corporation name in 1993. Through strategic acquisitions, the company grew into the world's largest cruise operator with multiple brands.
Where is Carnival Corporation headquartered?
Carnival Corporation's primary headquarters is in Miami, Florida, USA. The company maintains dual headquarters reflecting its dual-listed structure, with corporate offices also in Southampton, United Kingdom. A new consolidated headquarters campus in Miami-Dade County is planned for 2028.
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What is Carnival Corporation's revenue?
Carnival Corporation reported record FY2025 revenue of $26.6 billion, with record adjusted EBITDA of $7.2 billion and record adjusted net income of $3.1 billion, up over 60 percent year-over-year. In Q2 2026, the company reported record revenues of $6.7 billion. For full year 2026, the company expects adjusted net income of approximately $3.5 billion.
Who is Carnival Corporation's CEO?
Josh Weinstein serves as President and Chief Executive Officer of Carnival Corporation & plc. Weinstein has led the company through its record recovery, describing FY2025 as "a truly phenomenal year" and introducing the PROPEL long-term growth targets in March 2026.
Did Carnival reinstate its dividend?
Yes. In December 2025, Carnival reinstated its quarterly dividend at $0.15 per share, the first dividend since the pandemic suspension. The initial dividend had a record date of February 13, 2026 and payment date of February 27, 2026. The company also announced a $2.5 billion share buyback program in Q1 2026.
What is PROPEL?
PROPEL (Powering Growth and Returns, Responsibly) is a set of long-term targets introduced by Carnival Corporation in March 2026, designed to reflect continued earnings growth momentum, outsized shareholder distributions, and higher returns to be achieved by 2029.
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- Founded: 1972
- Headquarters: Miami, Florida, USA
- Company Type: Publicly Traded
- Stock: NYSE: CCL
- Revenue: $26.6 billion (FY2025)
- Employees: Approximately 160,000
Where Is Princess Cruises Made / Based?
- Headquarters: Santa Clarita, California, USA
Princess Cruises Categories & Tags
Princess Cruises Sustainability & Ethics
Princess operates under Carnival Corporation's environmental compliance and sustainability programs, which include liquefied natural gas propulsion for new builds, advanced wastewater treatment, shore power connectivity, and a commitment to reduce carbon intensity per available lower berth. Sun Princess and Star Princess are the line's first LNG-powered ships.
Carnival and its brands have faced environmental enforcement in the past. Carnival Corporation paid a $20 million criminal penalty in 2019 for probation violations related to waste dumping, a case in which Princess vessels figured in earlier proceedings. The parent remains under federal environmental compliance monitoring, a status that applies to Princess fleet operations.
Awards & Recognition
Star Princess was voted number one Best Mega Cruise by Conde Nast Traveler readers in its inaugural year. Princess itineraries in Alaska have repeatedly won recognition from Travel Weekly and Cruise Critic reader awards. The line's MedallionClass platform received industry innovation awards when introduced. Princess has also been recognized for dining and enrichment programs across multiple reader-choice surveys.
Princess Cruises Recalls & Controversies
The February 2020 COVID-19 outbreak aboard Diamond Princess in Yokohama was among the first major pandemic events anywhere, with more than 700 passengers and crew infected and multiple deaths. A subsequent outbreak aboard Grand Princess off California in March 2020 led to a complex multi-day quarantine operation in Oakland. Both events drew lawsuits and congressional scrutiny, largely resolved through settlements and limitations under maritime law.
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Princess was also a party to Carnival Corporation's criminal environmental cases. In 2019 the parent pleaded guilty to probation violations for illegal discharges, including incidents tied to Caribbean Princess, which had earlier been fined $40 million in 2016 for using a bypass pipe to discharge oily waste. A court-appointed monitor continues to oversee compliance across the fleet.
Brands Owned by Carnival Corporation
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Princess Cruises Ownership: Pros & Cons
Advantages
- +Access to Carnival's purchasing scale for fuel, food, port services, and newbuild financing
- +Part of the world's largest cruise fleet with shared itinerary and revenue management systems
- +Parent's investment-grade balance sheet supports multi-ship build programs like the 2026 Voyager-class order
- +Cross-brand marketing through the world's largest cruise customer database
Considerations
- -Parent-level environmental record has drawn criminal penalties affecting brand reputation
- -Capital allocation competes with seven other cruise brands
- -Premium tier position faces pressure from both Celebrity Cruises and Carnival's own Holland America
- -Corporate integration limits independent strategic maneuvering for the brand
Sources & Further Reading
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Competitors to Princess Cruises
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Norwegian Cruise Line Holdings | USA | 1966 | Premium | Global | All-ages | |
| Carnival Corporation | USA | 1972 | Value | United States | All Genders |
Learn More About Competitors
Travel HospitalityNorwegian Cruise Line
Owned by Norwegian Cruise Line Holdings
Contemporary cruise line brand known for innovative Freestyle Cruising concept and modern ship designs, operated by Norwegian Cruise Line Holdings.
cruisingtravelvacation
Travel HospitalityCarnival Cruise Line
Owned by Carnival Corporation
American cruise line and the largest brand in the Carnival Corporation portfolio, operating 29 ships with a focus on affordable, fun-focused cruise vacations. New Ace Class ships are under construction for delivery starting 2029.
cruise-linetravelvacation
Competitive Analysis
Market Positioning: Princess Cruises competes with 2 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to Princess Cruises
Looking for brands with different ownership structures? These similar brands are not owned by Carnival Corporation, giving you alternative choices that support different corporate structures.
Travel HospitalityRadisson Hotels
Owned by Radisson Hotel Group
Global hotel brand family including Radisson Blu and Radisson RED, operated by Radisson Hotel Group under Jin Jiang International ownership.
hotelshospitalityradisson-blu
Privately Owned
Radisson Hotels is privately owned, unlike Princess Cruises which is under a publicly traded parent company.
Travel HospitalityAce Hotel
Owned by Seibu Prince Hotels Worldwide, Inc.
Boutique lifestyle hotel brand founded in Seattle in 1999, owned by Japan's Seibu Prince Hotels Worldwide since September 2025, with nine hotels worldwide.
hotelsboutique-hotelslifestyle-hotels
Privately Owned
Ace Hotel is privately owned, unlike Princess Cruises which is under a publicly traded parent company.
Travel HospitalityAquaventure Waterpark
Owned by Kerzner International Holdings Limited
141-acre water park at Atlantis Paradise Island in the Bahamas, featuring high-speed slides, river rides, and marine habitat experiences, operated by Brookfield Asset Management.
water-parkresort-attractionbahamas
Privately Owned
Aquaventure Waterpark is privately owned, unlike Princess Cruises which is under a publicly traded parent company.
Travel HospitalityFinns Beach Club
Owned by FINNS Bali Group
Beachfront entertainment venue in Canggu, Bali, known for infinity pools, dining, and sunset events. Operated by PT Pantai Semara Nusantara.
beach-clubhospitalitybali
Privately Owned
Finns Beach Club is privately owned, unlike Princess Cruises which is under a publicly traded parent company.
Travel HospitalityDolphin Cay
Owned by Kerzner International Holdings Limited
14-acre marine habitat and conservation center at Atlantis Paradise Island offering dolphin encounters and marine education programs.
marine-habitatdolphin-encounterconservation
Privately Owned
Dolphin Cay is privately owned, unlike Princess Cruises which is under a publicly traded parent company.
Travel HospitalityFreehand Hotels
Owned by Generator Group
US boutique hotel brand founded in Miami Beach in 2012, combining shared and private rooms, now part of Generator Group under Brookfield ownership.
hotelsboutique-hotelslifestyle-hotels
Privately Owned
Freehand Hotels is privately owned, unlike Princess Cruises which is under a publicly traded parent company.
Carnival Corporation Stock Information
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