Who Owns Princess Cruises?

Princess Cruises is owned by Carnival Corporation, the world's largest cruise company. Not Royal Caribbean. Not Holland America. Not P&O Cruises.

This guide is for first-time cruisers researching Princess Cruises who want to understand how cruise line ownership actually works. Whether you are confused by the name "Carnival" appearing on a premium cruise line, or trying to figure out which brands share a corporate umbrella, this article has your answers. We cover Princess Cruises' full ownership history, the complete Carnival Corporation brand portfolio, and how Princess compares to lines under different parent companies.

Princess Cruises was founded in 1965 by Stanley McDonald, a Canadian-born businessman who chartered the ship Princess Patricia from Canadian Pacific Limited. McDonald's original idea came from the 1962 World's Fair in Seattle, where a shortage of hotel rooms gave him the idea to use ships as floating accommodations. He repurposed the Patricia for Mexican Riviera cruises departing Los Angeles.

McDonald sold the company to British shipping giant Peninsular and Oriental Steam Navigation Company, known as P&O, in 1974. Under P&O's ownership, Princess received its first owned ship, the Sun Princess, and began the growth that would make it one of North America's most recognized cruise brands. In 1988, the television series The Love Boat, filmed aboard Pacific Princess, introduced Princess Cruises to viewers in over 90 countries.

In 2000, P&O spun off its cruise operations as an independent company called P&O Princess Cruises plc, listing it on the London Stock Exchange. Three years later, in 2003, Carnival Corporation merged with P&O Princess Cruises to form the world's largest cruise company. Princess Cruises has been part of Carnival Corporation ever since.

The 2003 ownership change did not alter Princess's brand identity or onboard experience. Princess still operates from its Santa Clarita, California headquarters, maintains its own loyalty program called Captain's Circle, and markets itself as a premium cruise line aimed at destination-focused travelers. Corporate ownership affects shipbuilding budgets, shared port infrastructure, and loyalty architecture. It does not affect what you eat for dinner or what shows are on stage.

Travel advisors who sell Princess professionally point to three practical benefits of Carnival Corporation ownership that passengers rarely see directly.

First, the shared Alaska infrastructure: Princess and Holland America together send more ships to Alaska each summer than any other cruise group, and both lines share access to Carnival Corporation's privately owned wilderness lodges, glass-domed railcars, and Glacier Bay National Park authorization. A passenger booking a Princess Alaska cruisetour is drawing on decades of Carnival Corporation investment in that destination.

Second, the sister-line pricing dynamic: advisors note that Princess's bundled Plus and Premier packages frequently offer better all-in value than comparable add-on pricing at Carnival Cruise Line, despite both brands sitting under the same parent. Corporate ownership does not mean uniform pricing or uniform experience.

Third, the shared port relationships: Carnival Corporation's scale gives Princess priority berthing access at high-demand ports, particularly in Alaska and Europe, that smaller independent lines cannot negotiate on their own.

According to MainStreet Travel Agency's 2026 agent guide, advisors consistently position Princess as the better fit for travelers who want a calmer, more destination-focused experience than Carnival Cruise Line, while still benefiting from the operational scale that only a company the size of Carnival Corporation can provide.

1965: Stanley McDonald charters Princess Patricia from Canadian Pacific Limited and launches Princess Cruises, running Mexican Riviera sailings from Los Angeles.

1968: Boise Cascade acquires Princess from McDonald. McDonald repurchases the company in 1970.

1974: Peninsular and Oriental Steam Navigation Company (P&O) acquires Princess Cruises. The Sun Princess, the first ship Princess fully owned, joins the fleet.

1977: P&O de-merges its passenger services division to form P&O Cruises, with Princess operating as a North American brand within that structure.

1980: The Love Boat, filmed aboard Pacific Princess, begins broadcasting in the United States. The show airs in over 90 countries and makes Princess a household name.

1988: P&O acquires Sitmar Line, adding three new-build ships to the Princess fleet: Star Princess, Crown Princess, and Regal Princess.

2000: P&O spins off its cruise operations as an independent publicly traded company called P&O Princess Cruises plc, listing on the London Stock Exchange.

2001: Royal Caribbean Cruises Ltd. approaches P&O Princess Cruises with a merger proposal. Carnival Corporation counters with its own bid.

2003: Carnival Corporation completes its merger with P&O Princess Cruises plc, forming Carnival Corporation & plc. Princess Cruises, P&O Cruises, AIDA, and Cunard all enter the Carnival portfolio in a single transaction.

2014: Princess launches MedallionClass development, beginning a multi-year technology program to deploy wearable devices across the fleet.

2024: Star Princess is ordered as the second Sphere-class vessel, the largest class of ship ever built for Princess Cruises.

2025: Star Princess joins the fleet at 175,500 gross tons, bringing the Princess fleet to 17 active ships.

Here is where most first-time cruisers get tripped up. "Carnival" refers to two different things.

Carnival Cruise Line is a specific cruise brand, known for value-priced sailings with a party-forward "Fun Ship" identity. Carnival Corporation is the parent holding company that owns Carnival Cruise Line along with seven other brands, including Princess. Princess Cruises is owned by Carnival Corporation the parent company, not Carnival Cruise Line the brand.

A useful comparison: Toyota builds both the Camry and the Lexus LS. Both come from the same parent organization. One is a mainstream sedan, the other is a flagship luxury car. Princess and Carnival Cruise Line work the same way: sister brands under a common parent, each operating with its own identity, pricing, and experience.

P&O Cruises Australia was formerly part of Carnival Corporation but ceased operations in 2025, with its ships absorbed into the Carnival Cruise Line fleet.

No. Princess Cruises does not own any other cruise line. It is a brand within Carnival Corporation's portfolio, not a parent company itself.

Holland America Line is a sister brand. Both Princess and Holland America sit under Carnival Corporation, but neither owns the other. They operate independently with separate ships, separate loyalty programs, and distinct onboard cultures.

P&O Cruises (UK) is also a Carnival Corporation sister brand. Princess and P&O share a long corporate history: P&O owned Princess from 1974 to 2003. Today neither brand owns the other. Both report to Carnival Corporation.

Royal Caribbean International has no connection to Princess Cruises. Royal Caribbean International is a brand within Royal Caribbean Group, a completely separate publicly traded company on the New York Stock Exchange under ticker RCL. Royal Caribbean Group owns Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. It has no ownership relationship with Princess Cruises or Carnival Corporation.

The four publicly traded cruise holding companies each own distinct brands. Understanding the difference matters for loyalty programs, pricing, and cross-brand perks.

*Viking Holdings' 103-ship fleet includes 89 river vessels, 12 ocean ships, and 2 expedition ships as of end-2025. The other three groups operate ocean ships only.

Carnival Corporation is the world's largest cruise operator by passenger volume. Royal Caribbean Group is the second largest. Norwegian Cruise Line Holdings is the third. Viking Holdings, which went public in May 2024, operates the largest river cruise fleet in the world alongside a growing ocean and expedition division, with no ownership connection to any Carnival Corporation brand.

Princess Cruises operates 17 ships in 2026. The fleet ranges from the 91,627-gross-ton Coral Princess up to the newest Sphere-class vessels, Sun Princess and Star Princess, at 175,500 gross tons each. Star Princess launched in 2025 as the newest ship in the Princess fleet.

The fleet spans five ship classes: Sphere, Royal, Grand, Coral, and post-refit Grand variants. Most Princess ships carry between 2,000 and 4,300 passengers at double occupancy. Princess has historically favored a tighter size range compared to Royal Caribbean, which builds vessels exceeding 230,000 gross tons.

Princess's MedallionClass technology, now deployed fleetwide, uses a wearable device roughly the size of a quarter. It enables contactless boarding, passenger location sharing, and on-demand service delivery anywhere on the ship.

Who owns Princess Cruises?
Carnival Corporation owns Princess Cruises. Carnival Corporation is a publicly traded holding company, not the same entity as Carnival Cruise Line the brand.

Is Princess Cruises owned by Carnival Cruise Line?
No. Princess Cruises is owned by Carnival Corporation, which also owns Carnival Cruise Line. The two brands are sisters under the same parent, not parent and subsidiary.

Is Princess Cruises owned by Royal Caribbean?
No. Princess Cruises is owned by Carnival Corporation. Royal Caribbean Group is a completely separate company with no ownership connection to Princess.

Does Princess own Holland America Line?
No. Princess and Holland America Line are both owned by Carnival Corporation, making them sister brands. Princess does not own Holland America, and Holland America does not own Princess.

Does Princess own P&O Cruises?
No. P&O Cruises (UK) and Princess are both Carnival Corporation brands. P&O owned Princess from 1974 to 2003, but today neither brand owns the other.

When did Carnival acquire Princess Cruises?
Carnival Corporation acquired Princess Cruises in 2003 through its merger with P&O Princess Cruises plc, creating the world's largest cruise company at the time.

How many ships does Princess Cruises operate?
Princess Cruises operates 17 ships in 2026. The newest is Star Princess, launched in 2025.

If you are booking your first Princess sailing, Carnival Corporation's ownership is largely invisible onboard. Princess operates with its own branding, onboard culture, and pricing structure. You will not encounter Carnival Cruise Line Fun Ship imagery on a Princess ship.

If you hold Carnival Cruise Line loyalty status, that status does not automatically transfer to Princess Captain's Circle. The two brands maintain separate loyalty structures despite sharing a parent company. Confirm directly with each brand before assuming any cross-brand status recognition.

If you are comparing Princess to Holland America Line, both brands sit under the same corporate parent and target a similar traveler profile: premium, destination-focused, and skewing slightly older than Carnival Cruise Line or Norwegian Cruise Line. The onboard experiences differ, but both benefit from Carnival Corporation's shared port relationships, shipyard contracts, and fleet logistics infrastructure.

Watch for: Carnival Corporation occasionally transfers ships between brands and adjusts loyalty structures. Verify the current details of any cross-brand benefits directly with Princess or the relevant sister brand before booking.