Richard Fain, CEO of Royal Caribbean, Talks About Transforming the Cruise Industry on The CEO Show with Host Robert Reiss
Richard Fain, 22 year Chairman and CEO of Royal Caribbean Cruises Ltd., talks with CEO Show host Robert Reiss about transforming the global cruise industry led by Royal Caribbean by tailoring its services to the cultural preferences of its passengers. Fain also talks about the merits of hiring local managers, cultivating open communications, and encouraging innovation to produce exotic experiences onboard. Finally, Fain makes it clear that “the key with service is the people – the employees.”
Ridgefield, CT, January 16, 2011 --(PR.com)-- Richard Fain, 22 year Chairman and CEO of Royal Caribbean Cruises Ltd., talks with CEO Show host Robert Reiss about the global cruise industry whose transformation was led by Royal Caribbean through offering cruises tailored to the cultural preferences of its passengers. Fain explains how these preferences are met by hiring local managers who are expert in the differences that occur across the global markets which Royal Caribbean’s six brands serve, namely: Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises brands in the U.S., and Pullmantur, CDF Croisieres de France, and TUI Cruises in other portions of the globe. Fain also relates how open communications with employees spark innovations in services and produce exotic venues like onboard rock climbing.
Becoming Chairman and CEO in 1988, Fain grew the business from an organization of 2600 employees to its current workforce of almost 60,000, 40 ships, and $6.8 billion in revenues, evidencing that his impact was considerable. Fain recognized early on that Royal Caribbean would revolutionize the industry and grow by expanding the popularity of its cruises. This meant that from what had been occasional travel by wealthy “older people” became affordable venues offering adventures where the average age is 22. Shipboard cruises in fact have become so popular that Fain says that, “A third of our guests are [participating] in some sort of multigenerational cruising.”
Fain makes it clear that Royal Caribbean is in a service industry and that “the key with service is the people,” employees who have a passion to serve. As Fain says, “They care about the service they provide … and they care about their guests….” Reiss asks his guest how he manages a culture of 50,000 employees to continue to grow their passion for service, and Fain responds, that the culture seems “to feed on itself.” But during the interview it becomes apparent that the commitment of the employees occurs by much more than chance: Fain talks about a number of contributors such as finding the best people, orientation, and training. Foremost, Reiss learns that working within Royal Caribbean is seen by employees as an opportunity to grow and advance.
Information about Royal Caribbean Cruises, Ltd. can be found at: www.royalcaribbean.com or www.rclinvestor.com
The CEO Show interview with Richard Fain can be previewed at: www.ceoshow.com
Contact: Robert Reiss 203 894 9400, robert@ceoshow.com
The CEO Show with Robert Reiss, syndicated by Business TalkRadio Network, is available in over 40 markets across the USA. Transcripts of interviews are used for Reiss's monthly column with Forbes.com. ( See ‘ceoshow.com’ for more information.)
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Becoming Chairman and CEO in 1988, Fain grew the business from an organization of 2600 employees to its current workforce of almost 60,000, 40 ships, and $6.8 billion in revenues, evidencing that his impact was considerable. Fain recognized early on that Royal Caribbean would revolutionize the industry and grow by expanding the popularity of its cruises. This meant that from what had been occasional travel by wealthy “older people” became affordable venues offering adventures where the average age is 22. Shipboard cruises in fact have become so popular that Fain says that, “A third of our guests are [participating] in some sort of multigenerational cruising.”
Fain makes it clear that Royal Caribbean is in a service industry and that “the key with service is the people,” employees who have a passion to serve. As Fain says, “They care about the service they provide … and they care about their guests….” Reiss asks his guest how he manages a culture of 50,000 employees to continue to grow their passion for service, and Fain responds, that the culture seems “to feed on itself.” But during the interview it becomes apparent that the commitment of the employees occurs by much more than chance: Fain talks about a number of contributors such as finding the best people, orientation, and training. Foremost, Reiss learns that working within Royal Caribbean is seen by employees as an opportunity to grow and advance.
Information about Royal Caribbean Cruises, Ltd. can be found at: www.royalcaribbean.com or www.rclinvestor.com
The CEO Show interview with Richard Fain can be previewed at: www.ceoshow.com
Contact: Robert Reiss 203 894 9400, robert@ceoshow.com
The CEO Show with Robert Reiss, syndicated by Business TalkRadio Network, is available in over 40 markets across the USA. Transcripts of interviews are used for Reiss's monthly column with Forbes.com. ( See ‘ceoshow.com’ for more information.)
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Cell phone: 203-894-9400
Robert Reiss
203-894-8655
www.ceoshow.com
Cell phone: 203-894-9400
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