An American, Ted Arison, founded Carnival Corporation &. PLC in 1972, which is a British American cruise company, but its operations headquarters are in Doral, Florida, in the United States while sales management headquarters are located in Southampton, Hampshire, England. He started the business empire as a transportation company and named it Carnival Cruise Lines. It started growing due to the new markets and increased demands. However, its origin can be traced back in the early 19th century from the oldest cruise ship operator, Peninsular and Oriental Steam Navigation Company.
Carnival Corporation and PLC are two different holdings with Carnival Corps owning the majority of the shares. In 1987, it offered an IPO (Initial Public Offering) for its common stock. After the IPO, it increased its capital base and started expansions through acquisitions of assets and other competitors such as Seabourn Cruise Lines, Holland America Tours and Windstar cruises in the 1980s. Later in the 1990s, it continued its acquisitions that included Costa Cruises and Cunard Line. It underwent a name change in 1993 when it changed its name to Carnival Corporation. After the founders’ death, his son Micky Arison who owns 47% through shares and bonds has led the company. The New York Stock Exchange (NYSE) lists the company’s stocks, which are incorporated in Panama. Its growth and developments have led to its success in the cruise industry becoming the worlds largest operator. The company was founded when the market was still ‘young and competition was low. Ted claimed that it was an opportunity since most of the vacation services were offered through road and air.
The company has become a multinational cruise company due to its dual-ownership. Its transport networks include all oceans and .continents. Locally, the company has most of its operations in Europe and the United States where it has small cruise ships to provide for domestic passengers. .