Royal Caribbean to Buy 50% of Sandals and Beaches Resorts for $3 Billion

# What happened Royal Caribbean Group announced a roughly $3 billion investment for a 50% equity stake in Sandals and Beaches Resorts. The deal values Sandals at about $6 billion and is expected to close in 2027, subject to customary approvals and closing conditions.

# Who's involved Sandals is a privately held Caribbean resort operator founded in 1981. Its portfolio includes 17 adult-focused resorts and three family Beaches resorts across Jamaica, the Bahamas, Saint Lucia, Grenada, Barbados, Antigua, Curacao, and Turks & Caicos. Adam Stewart, son of founder Gordon "Butch" Stewart, will remain Executive Chairman and serve on a board that will be jointly led by Stewart and Royal Caribbean Chairman & CEO Jason Liberty.

Royal Caribbean Group operates multiple cruise brands, including Royal Caribbean, Celebrity Cruises, and Silversea, and participates in joint ventures such as Mein Schiff. At the time of the announcement the company had 71 cruise ships in service with about 175,000 berths and 13 ships on order representing approximately 43,230 berths due for delivery between 2027 and 2032.

# Strategic rationale The companies say the joint venture will:

• Broaden distribution so resort and cruise inventories can reach more customers across both platforms.
• Deepen guest engagement through potential loyalty program connections.
• Make it easier for travelers to discover combined cruise and resort vacation experiences.

Royal Caribbean frames the move as an expansion into an adjacent vacation category and a way to accelerate Sandals' growth. Possible operational outcomes discussed publicly include cross-promotions to cruise passengers and using resort properties to support private beach-club destinations at cruise ports.

# Background and context

# Market reaction and risks

# What to watch next

• Regulatory and closing approvals before the joint venture finalizes in 2027.
• Specific plans for loyalty integration and bundled cruise-resort offerings.
• Any announced capital plans for resort expansion or conversion to support private-destination beach clubs.
• Financial disclosures that clarify how the joint venture will be funded and how returns will be measured across both businesses.

This transaction shifts Royal Caribbean into established, all-inclusive Caribbean resorts while giving Sandals access to a large cruise customer base and distribution network.