Royal Caribbean raised its full-year guidance, expecting earnings of $15.41 to $15.55 per share. CEO Jason Liberty noted a rise in traveler preferences for experience-driven travel, with 75% planning to spend the same or more on leisure travel in the next 12 months.

The company reported growth in bookings in the second quarter, especially from younger cruisers. Royal Caribbean’s income rose to $1.2 billion, with adjusted earnings per share of $4.38 and revenue of $4.54 billion. Despite this, shares fell 5% on Tuesday.

Royal Caribbean’s capacity increased by 5.8% compared to the previous year, with 2.3 million guests taking a cruise in the second quarter. Bookings for new ships, Star of the Seas and Celebrity Xcel, are reportedly performing well, showcasing strong demand for the company’s offerings.

Read more at CNBC: Royal Caribbean CEO says higher guidance reflects travel trends