In this episode, we dive into the massive operations of Carnival Corporation & plc, the Anglo-American operator controlling the world's largest cruise fleet with over 90 vessels. We unpack the history of this dual-listed giant, tracing its roots from a single line founded in 1972 by Ted Arison to a global hospitality empire reporting over $25 billion in revenue in 2024.

Listeners will learn about Carnival’s complex corporate structure, which unites a portfolio of nine distinct brands including Princess Cruises, Holland America Line, and the historic Cunard Line under one umbrella. We also explore the company’s expansion through major acquisitions, such as the hostile takeover of P&O Princess Cruises in 2003.

Finally, we discuss the turbulent waters the corporation has navigated, from the tragic Costa Concordia disaste ...