Royal Caribbean Group is making a major move beyond cruising, acquiring a 50 per cent stake in Sandals and Beaches Resorts for approximately US$3 billion.
The agreement will create a jointly owned company combining Sandals’ expertise in all-inclusive Caribbean resorts with Royal Caribbean Group’s expanding holiday portfolio, which includes Royal Caribbean International, Celebrity Cruises, Silversea, private destinations and the forthcoming Celebrity River Cruises.
The transaction represents Royal Caribbean Group’s first significant move into land-based resort holidays and gives the company a foothold in the growing all-inclusive market.
Sandals operates adults-only resorts across Jamaica, Antigua, Saint Lucia, The Bahamas, Barbados, Grenada, Curaçao and Saint Vincent and the Grenadines.
Its family-focused Beaches Resorts brand currently operates in Jamaica and Turks and Caicos, with further properties planned for The Bahamas, Barbados, Jamaica and Saint Vincent and the Grenadines.
Royal Caribbean Group Chairman and CEO Jason Liberty said the partnership represented an important next step in the company’s evolution.
“Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts,” Liberty said.
The companies said the additional investment would help accelerate the expansion of both resort brands, broaden their distribution and introduce the properties to more travellers.
There is also significant potential for the two businesses to draw upon their respective customer bases. Royal Caribbean Group operates 71 ships across its brands, while Sandals and Beaches have built a strong following in the Caribbean all-inclusive market.
Although future opportunities could include closer connections between the companies’ holiday products, existing reservations, loyalty programs, resort operations and cruise operations will continue as usual.
Sandals Resorts Executive Chairman Adam Stewart will retain a leadership role and help guide the long-term development of Sandals and Beaches Resorts. The joint venture’s board will be led jointly by Stewart and Liberty.
Stewart said the agreement would allow the company to grow more quickly while maintaining the qualities that had defined the brands for more than four decades.
“The future has never been brighter,” he said.
The deal comes as Royal Caribbean Group continues to expand beyond traditional cruising. The company is developing additional Perfect Day and Royal Beach Club destinations and will enter river cruising in 2027 through Celebrity River Cruises.
Royal Caribbean Group said its investment in Sandals and Beaches would give it a presence in another part of the approximately US$2 trillion global holiday market.
The transaction will be funded through committed debt financing from Morgan Stanley and is expected to close in early 2027, subject to customary approvals and closing conditions.
