No, Princess Cruises is not owned by Royal Caribbean; it is a prominent brand within the Carnival Corporation & plc portfolio. Carnival Corporation is the world's largest leisure travel company and owns several other famous lines, including Holland America Line, Costa Cruises, and Cunard. Royal Caribbean Group, its primary rival, owns and operates Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. Princess Cruises, headquartered in Santa Clarita, California, was famously the setting for the 1970s television show The Love Boat, which helped cement its brand identity as a leader in premium, destination-focused cruising. As of 2026, Princess remains a key player in the "premium" market segment, often serving as the direct competitor to Celebrity Cruises. While both Carnival and Royal Caribbean dominate the global cruise industry, they remain separate, publicly-traded entities that compete fiercely for market share in regions like Alaska, the Caribbean, and Europe. Knowing which "parent company" owns your line is helpful for understanding loyalty program partnerships and onboard service styles.