Princess Cruises is owned by Carnival Corporation & plc, the world’s largest cruise operator. Gus Antorcha has served as president since December 2, 2024, succeeding John Padgett. The line currently operates 17 ships across all seven continents.
- Carnival Corporation & plc acquired Princess Cruises through a $5.4 billion merger with P&O Princess Cruises on April 17, 2003.
- Princess Cruises generates approximately $4 billion in annual revenue as of 2025, ranking sixth among global cruise lines by net revenue.
- The fleet includes 17 active ships with a combined guest capacity exceeding 50,000 passengers per sailing.
- Carnival Corporation holds roughly 39% of the global cruise market by revenue, with Princess contributing around 20% of group revenue.
- Princess Cruises employs approximately 30,000 full-time staff across its fleet and shoreside operations.
How Did Princess Cruises Get Its Name?
The name traces directly to the ship that started it all. When Stanley McDonald launched the company in 1965, he chartered the Princess Patricia from Canadian Pacific Limited — a vessel that already carried the “Princess” designation as part of Canadian Pacific’s longstanding naming convention for its passenger ships.
McDonald chose to keep that name when he repurposed the ship for Mexican Riviera sailings from Los Angeles. The word “Princess” aligned with the upmarket, refined image he wanted to project: something aspirational, but not austere. As the company added ships, the name carried forward naturally, and each new vessel received a “Princess” title of its own — Island Princess, Pacific Princess, Sky Princess — cementing the pattern across the entire fleet.
The brand gained enormous public recognition in the 1980s when Pacific Princess became the setting for the American television series The Love Boat, watched in over 90 countries. That association tied the Princess name to glamour, romance, and the appeal of ocean travel for a generation of viewers.
Who Owns Princess Cruises?
Princess Cruises is a wholly owned subsidiary of Carnival Corporation & plc, incorporated in Bermuda and headquartered in Fort Lauderdale, Florida. Carnival Corp is publicly traded on both the New York Stock Exchange (NYSE: CCL) and the London Stock Exchange (LSE: CCL).
The cruise line operates under Carnival’s Holland America Group division in North America, while its UK marketing and sales fall under Carnival plc, also known as Carnival UK.
Princess Cruises Origin, Founders and Early Years
Stanley McDonald, a Canadian-born businessman and former U.S. Navy Air Corps member, founded Princess Cruises in 1965. His idea came partly from the 1962 World’s Fair in Seattle, where a shortage of hotel space prompted him to consider using ships as floating accommodations.
He chartered the Princess Patricia from Canadian Pacific and retrofitted her for warm-weather voyages — adding air conditioning, renovating cabins, and reconfiguring her for leisure passengers rather than coastal transport. The first season, sailing Los Angeles to Mexico, drew strong demand. By the early 1970s, McDonald had expanded the route network to include Alaska.
In 1974, McDonald sold the company to the British shipping conglomerate Peninsular & Oriental Steam Navigation Company, known as P&O. Under P&O, Princess expanded steadily through the 1980s and 1990s, adding purpose-built ships and launching its Grand-class vessels. In 2000, P&O spun off its cruise operations as an independent company called P&O Princess Cruises plc, which then merged with Carnival Corporation in 2003. You can read more about wearable technology and how IoT devices are reshaping consumer experiences — the same forces that drove Princess to develop its MedallionClass platform.
Largest Shareholders of Princess Cruises
Who Is on the Board of Directors for Princess Cruises?
Princess Cruises operates as a subsidiary of Carnival Corporation & plc, so governance sits at the parent company level. The board below oversees all Carnival brands, including Princess.
Executive Leadership
Finance & Audit
Compliance & Governance
Safety, Environment & Operations
Princess Cruises Mission Statement
Princess Cruises does not publish a single formal mission statement, but the company’s stated purpose is to share the world with its guests by delivering extraordinary cruise experiences defined by personalized service, global itineraries, and continuous innovation.
The line describes its philosophy as ensuring that scale has never replaced heart. Though Princess now operates 17 ships across all seven continents, the company consistently frames its identity around individual guest experience rather than fleet size.
That commitment shows up in programs like MedallionClass — the wearable-device platform developed to remove friction from every stage of a cruise — as well as in Princess’s culinary approach, which incorporates regional ingredients and destination-specific menus rather than a uniform onboard menu. The 360 Experience, an immersive dining event, reflects that same philosophy.
Princess also emphasizes environmental responsibility as part of its operating principles, holding ISO 14001 Environmental Management System certification since 2006, and investing in route planning and waste reduction across the fleet. Research on ocean cleanup and sustainable maritime technology points to the broader context in which cruise lines now operate.
Princess Cruises Products and Services
Ocean Cruises
- 17 ships across all 7 continents
- 300+ destinations worldwide
- Alaska, Hawaii, Europe, Asia, Australia itineraries
- World Cruise voyages available
MedallionClass Experience
- Wearable OceanMedallion device
- Keyless cabin entry
- On-demand food and drink delivery anywhere on ship
- Real-time guest location and wayfinding
Dining
- Main dining rooms with multicourse menus
- Specialty restaurants on each ship
- The 360 Experience immersive dining event
- 2025 Wine Spectator Award of Excellence winner
Entertainment
- Movies Under the Stars poolside screenings
- Broadway-style productions
- Live music and guest entertainers
- Onboard casinos and spas
- Virtual and immersive experiences — see how VR is reshaping travel entertainment
Shore Excursions & Land Programs
- Guided tours at 300+ ports of call
- Holland America Princess Alaska Tours
- Denali wilderness packages
- Cultural and culinary excursions
Princess Community Foundation
- Established 2008
- Supports nonprofits globally
- Partners in education and disaster relief
- Local community development programs
FAQ
Who owns Princess Cruises?
Princess Cruises is owned by Carnival Corporation & plc, the world’s largest cruise company. Carnival acquired Princess through its $5.4 billion merger with P&O Princess Cruises plc on April 17, 2003. The parent company trades on the NYSE and LSE under the ticker CCL.
When did Princess Cruises come out?
Princess Cruises was founded in 1965 by Stanley McDonald, who chartered the Princess Patricia from Canadian Pacific for Mexican Riviera sailings from Los Angeles. The first voyages departed that same year, marking the beginning of what would become one of the world’s largest cruise lines.
Is Princess Cruises an American company?
Princess Cruises was founded in the United States and is headquartered in Fort Lauderdale, Florida. It is incorporated in Bermuda and owned by Carnival Corporation & plc, a dual-listed company registered in both the United States and the United Kingdom.
Is Princess Cruises still operational?
Yes. Princess Cruises is fully operational as of 2026, running 17 ships on itineraries across all seven continents. The fleet includes the recently launched Star Princess (2025) and Sun Princess (2024), the two largest ships in the line’s history at 175,500 gross tons each.
What is the net worth of Princess Cruises, and what is its market cap in 2026?
Princess Cruises is a private subsidiary of Carnival Corporation and does not carry a standalone market cap. Financial analysts estimate its value to Carnival at approximately $10 billion. Carnival Corporation & plc — its parent — had an estimated net worth of roughly $28 billion as of 2025, trading on NYSE as CCL.
