Arnie Weissmann
I received an advance copy of Royal Caribbean Group chairman Richard Fain's upcoming book, "Delivering the Wow" (Fast Company Press, 2025), which will be released Oct. 21.
It will hold the interest of even readers unfamiliar with Royal, cruising or business principles. In other words, it's a book with narrative strength, realistic characters, a fair amount of drama and (not giving anything away) an uplifting finish.
"I didn't go the path of 'seven principles of great leaders,'" Fain told me on a call. "First of all, I wish leadership could be encapsulated in seven principles. It can't. But I think it can be demonstrated through examples, and that fit in with my love of stories and history."
The recurring motif in the book is the importance of collaboration and culture. In this age of move-fast-and-break-things, it's refreshing to be reminded that lasting success can be built on a foundation of thoughtful debate among people moving toward a shared goal with intentionality.
"I think part of what has made Royal Caribbean so successful is that we have this ..." He paused here, then continued: "This jumble of weird people. Each of whom brings their own perspective, learned to work together, respect each other but also to stand up for what they think. That process isn't short."
One striking example happened early in his career. At 34, Fain had been promoted to co-president of the shipping company Gotaas-Larsen, which had a stake in Royal Caribbean. At the time, Royal was a four-ship cruise line whose founder, Ed Stephan, had increased capacity in his first three ships by cutting them in half and inserting a midsection with additional cabins.
Stephan came to Gotaas-Larsen's board with an even bolder idea: He wanted to add a deck to an existing ship, which would increase the line's capacity by 40%. But there was board opposition; would there be demand to fill the ship, which would be the largest cruise vessel in the world?
The board chose Fain to chair a committee to study the idea.
In a step that seems almost anachronistic, the committee's first meeting would not focus on the project itself but on how the committee would work together. They forbade discussion of the project itself, focusing instead on shared goals and a collaborative approach.
While the book shares many success stories, Fain doesn't shy away from challenging moments that didn't always end well. In addition to "wow" moments are what he calls "whoa" moments. A ship strikes a reef. Norovirus breaks out. An oil leak results in water pollution (and a hefty fine). Hurricanes. 9/11. Covid.
And while most of the book recounts strength moving to strength, Fain's self-deprecating humor keeps it from slipping into braggadocio. At one point, investor and Hyatt Corp. founder Jay Pritzker tells him, "Richard, if we can't get you to talk less, could you possibly talk faster?"
To make the point that frontline employees are critical to the line's success, he composes an apocryphal letter of complaint. "Dear Mr. Fain. You are an idiot. Your company is terrible. On our cruise, this went wrong and that went wrong. Everything was awful. However, George, my cabin steward, was wonderful. And Ana, our waiter, was fantastic. Don't blame them!"
He shares the four pillars of the 1988 strategic plan he presented to his board: "1) Don't screw it up. 2) Improve revenue. 3) Improve revenue. 4) Control costs."
It illustrates what he considers two critical points: Focus is paramount, and a collaborative discussion that aligns the board with a shared consensus is better than a presumptive PowerPoint.
On the page opposite the start of each chapter is the history of a nautical term. I'll show my ignorance and admit that I learned from the book that a "gross ton" is a measure of volume, not weight.
"The publisher didn't love [the definitions]," Fain told me. "He thought it was distracting and breaking the flow. But I really like it."
I wrote at the beginning of this column that the book would be appealing even to those who aren't familiar with cruising, but if you are interested in the history of the modern cruise industry, the book is likely to contain bits of that history -- or details -- you might not be aware of.
Fain details how Carnival Corp. was a contender to purchase a majority stake in Royal in 1988. The board eventually chose other investors, but what struck me was the asking price: $550 million. That was, Fain told me, "about a quarter of the cost to build the Icon of the Seas."
The company is now valued at approximately $90 billion.
If I have one complaint about the book, it's that there's no index. There are a lot of familiar names.
Fain is going to step down as chairman later this quarter (he will remain on the Royal board). As the book richly details, he has a lot to be proud of.
Richard Fain's Delivering the Wow goes on sale October 21. You can preorder it on Amazon.