RCL Ernst & Young fees, mainly for Excalibur, $52m this year

RCL chairman and CEO Richard Fain detailed Excalibur's rollout during a 2017 event RCL chairman and CEO Richard Fain detailed Excalibur's rollout during a 2017 event PHOTO: Anne Kalosh

Ernst & Young provided consulting services to Royal Caribbean Cruises Ltd., primarily related to its Excalibur technology platform, to the tune of approximately $52m from Jan. 1, 2018, to Dec. 1, 2018.

This was on top of approximately $18m in EY fees during 2017.

Currently in use on 50% of the fleet

Currently Excalibur-related functionality is available on about 50% of the Royal Caribbean fleet.

During RCL's third quarter earnings call in October, CFO Jason Liberty noted that investments in significant technology projects, like Excalibur, were becoming a larger mix of capital expenditures.

The EY consulting numbers were reported in a filing related to the recent appointment of Stephen R. Howe Jr., former US chairman and managing partner of Ernst & Young, as an RCL director.

Posted 07 December 2018

© Copyright 2018 Seatrade UBM (UK) Ltd. Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade UBM (UK) Ltd.

Anne Kalosh

US editor of Seatrade Cruise Review and Seatrade Cruise News

 Cruise Ports Survey 2018 Storybox