Carnival Cruise Lines is a British-American owned cruise line based in the Doral suburb of Miami, Florida (Carnival Cruise Lines, n.d.). The company offers vacations that appeal to a wide range of lifestyles and budgets. Carnival was founded in 1972 as an independent company by Ted Arison. The cruise line company became known as the world’s most popular cruise line and in 1987 it made an initial public offering of 20 percent of its common stock. The public offering provided the company with an influx of capital that allowed the company to begin expanding through acquisitions. The company formed Carnival Corporation & plc in 1994 and Carnival Cruise Lines became its flagship brand (Mission & History, 2010). Carnival Corporation has acquired
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Carnival hit record-breaking business so far this year. The bookings for the company were the highest they have ever been because of its new booking system. The earlier in advance a passenger’s cruise is booked the more economical the price. A cruise can cost as low as $175-$200 per person in advance. The cruise line also offers last minute bookings at discount prices. Carnival can be cheaper than airfare without the fear of terrorist attacks, excessive baggage fees, delays and extreme boarding procedures or hassles. In 2009, the corporation revenued $13.2 billion with a net income of $1.8 billion, and are projected to make their highest profit ever this year. The company carries a record of 3.9 million passengers and the up-to-date record is the most in the cruise industry.
*Executive control of Carnival Cruise Lines is provided by the North American division of Carnival Corporation in Doral, Florida. Carnival Corporation and Carnival plc, the cruise line, function as a single economic entity. They also function through contractual agreements between separate legal entities (Investor Relations, 2010). Carnival Corporation common stock is traded on the New York Stock Exchange. Carnival plc is traded on the London Stock Exchange and has an ADS on the New York Stock Exchange. Carnival is the only company in the world to be included in both the STP 500 index in