Royal Caribbean offers a larger margin of safety than Carnival

The discussion today involves forward looking statements. Please refer to the Safe Harbor language included in the company’s news release announcing results for this quarter that describe certain risk factors and uncertainties that may impact the company’s future results and may cause the actual results to differ materially from those projected. Also, the content of this conference call contains time sensitive information that is subject to the Safe Harbor Statement included in the news release, is accurate only as of the date of this call..

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