b'INDUSTRY MILESTONES1985 1986 1987 1988// Economy of scales// Sitmar orders new ships.// Carnival issues IPO.// Carnival becomes introduced. // Cruise lines pull out ofthe single largest brand. // Royal Caribbean signsMed following Achille Lauro// Carnival makes itsrst contract for worlds largestincident. acquisition:Holland ship, Sovereign of the Seas,// German economistsAmerica Line.enters service in 1988. see little potential for the// Richard Fain is named European cruise market, thatchairman and CEO cruises are too expensive andof Royal Caribbean.there are few destinations// MSC Cruises launches to cruise to. service.// World City introduces the1989 1991 1992Phoenix concept ship ahead of its time.// Royal Caribbeanghts// Twin-hull Radisson Diamond // Chandris launches otakeover attempt byenter service, forerunnerCelebrity Cruises.Carnival. to Regent Seven Seas. // Backers promise return1990of SS United States.// Crystal renews big-ship luxury market. 1993// Regency Cruises issues// Monarch of Seas is the IPO.// Royal Caribbean rst contemporary market // Micky Arison namedship to have balconyissues IPO. chairman and CEO ofstaterooms (pioneered by Carnival Corporation. Princess in the 1980s).1994 1996 1999 2000// Southeast Asian// The cruise industry// Star Cruises acquires// Norwegian introduces cruising begins.goes global, Carnival isNorwegian Cruise Line.Freestyle Cruising. in Europe with Airtoursand in Asia with Hyundai.1997 2001// Royal Caribbean acquires Celebrity. // Cruise lines introduce// Renaissance completes delivery 1995 1998 open seating for dinner.of eight new ships in 31 months. // Juneau introducesrst // Crystal, Norwegian// Disneyshorepower connection and Regent introducelauncheswith Princess.alternative restaurants. service.// Luxury lines make dining an experience.'