Royal Caribbean is offering to rent out a yacht for a fraction of the cost.
The company is offering up to two-thirds of a yacht rental for $9.95 per night, plus a tip.
It’s the latest twist in the industry’s ongoing battle to bring back a once-faded, but now more accessible way to spend the vacation season.
(Read more: Royal Caribbean and Cruise Line: A New Beginning)The offer comes as the industry continues to grapple with a downturn in cruise line revenues.
Cruise lines have been in a state of financial uncertainty and are struggling to keep afloat, particularly with the financial stress of the current recession.
A recent report from research firm CB Insights found that cruise line revenue dropped from $5.4 billion in 2017 to $4.9 billion in 2018, the lowest since 2009.
Cruise lines also have to contend with an ever-expanding list of safety, security and cruise-related regulations.
The International Association of Machinists and Aerospace Workers (IAAF) has reported that cruise lines have become increasingly unsafe as more countries have stepped up regulations and tightened their borders to protect travelers.
And in the past year, a number of cruise lines, including Carnival, have faced safety problems at sea.
But Royal Caribbean’s new initiative comes at a time when many cruise lines are grappling with how to increase the value of their cruises and whether to keep the resorts around the world open.
The company says that this new program will help it better market and attract tourists to its resorts.
Royal Caribbean CEO Paul Daley told The New York Times that the initiative is meant to help the company “create a more engaging experience for our guests,” and he said the offer “will help us continue to build the brand.”
The offer is the latest move by Royal Caribbean in an attempt to reinvigorate its resorts, which have been struggling to make the money that cruise ships bring in.
The luxury cruise line recently launched a new cruise line called the Princess Royal that will offer exclusive tours and other services to guests and will run between the islands of the Bahamas and Turks and Caicos.
The Princess Royal will be the company’s first new luxury cruise ship since 2014, and its first in more than three decades.
Cruises are also making strides in making sure that they offer more vacation packages.
The Royal Caribbean has expanded its vacation packages for guests from three to four nights, with a “grand total of four nights” for those who want to travel on the Princess Royale.
(Related: Royal Cruise Lines: The Best Cruise Line Vacations)The company has also been working on a new program that will allow guests to rent a Royal Caribbean yacht and cruise ship.
The service is expected to launch next year, with the Royal Caribbean saying it will be available for rent from the start of the summer.
The plan is to offer guests the option to book their own room or stay with a hotel group, though Royal Caribbean does not disclose how much it will cost.