Royal Caribbean Takes a 50% Stake in Sandals & Beaches Resorts

On September 23 2026, Royal Caribbean Group announced a definitive agreement to acquire a 50 percent equity interest in Sandals Resorts International and its Beaches brand for approximately $3 billion. The joint-venture will be governed by a board co-led by Royal Caribbean Chairman and CEO Jason Liberty and Sandals Executive Chairman Adam Stewart. The transaction is slated to close in early 2027, subject to customary approvals.

Royal Caribbean announces $3 billion deal for 50 percent stake in Sandals – Eye Witness News "Cruise And Resort Package": Royal Caribbean Completes Mega Deal With Sandals Resorts TravelweekRoyal Caribbean to buy 50% stake in Sandals Resorts for $3bn Royal Caribbean Group buys 50% stake in Sandals Resorts for US$3 billion

Sandals, founded in 1981 by Gordon “Butch” Stewart, operates 17 adults-only resorts and three Beaches family resorts across the Caribbean. Royal Caribbean, the world’s most valuable cruise operator (market cap ? $61.5 billion), has recently added private-island day clubs, a river-cruise line under Celebrity, and a “Perfect Day” private-destination concept. The Sandals deal marks its first direct entry into the land-based all-inclusive segment.

Orlando Sentinel"Cruise And Resort Package": Royal Caribbean Completes Mega Deal With Sandals Resorts Royal Caribbean moves into resort space with US$3m deal Royal Caribbean Sandals Deal: What We Know So Far Royal Caribbean to Buy Stake in Sandals Resorts in $3 Billion Deal

• Deal value: $3 billion for a 50 percent stake, valuing the combined portfolio at roughly $6 billion.

Royal Caribbean stock falls on report of Sandals deal talks

• Resort portfolio: 20 properties in eight Caribbean nations.

Royal Caribbean Nears $3 Billion Deal for Half of Sandals Resorts — BigGo Finance

• Royal Caribbean fleet: 71 cruise ships (? 175,000 berths) with 13 ships on order for delivery 2027-2032.

The Maritime Executive

• Financing: Debt financing secured from Morgan Stanley.

Royal Caribbean Group to invest $3 billion in Sandals, Beaches resorts partnership

• Market scope: Expands participation in the ? $2 trillion global vacation market.

Royal Caribbean Group enters the all-inclusive resort segment

Royal Caribbean said the joint-venture will explore broader distribution and deeper guest engagement across both portfolios. Sandals’ leadership emphasized continuity—reservations, loyalty programmes, and day-to-day operations will remain unchanged. Stewart noted the deal will provide “additional resources for future growth” while preserving the brand’s Caribbean heritage.

Royal Caribbean Is Investing $3 Billion in Sandals and Beaches Resorts in a Landmark Caribbean All-Inclusive Partnership

The transaction gives Royal Caribbean immediate scale in the all-inclusive resort market and creates cross-selling opportunities between cruise and land-based vacations. Linking loyalty programmes could enable a seamless “cruise-and-resort” experience, though specific packages have not yet been announced. The partnership also supports Sandals’ expansion projects, including a $200 million renovation of three Jamaican resorts.

Royal Caribbean Expands on Land "Cruise And Resort Package": Royal Caribbean Completes Mega Deal With Sandals Resorts Royal Caribbean Is Investing $3 Billion in Sandals and Beaches Resorts in a Landmark Caribbean All-Inclusive Partnership Royal Caribbean Sandals Deal: What We Know So Far Royal Caribbean Group and Sandals Resorts announce landmark partnership

Investor reaction varied: one report noted a 12 percent plunge in Royal Caribbean shares after the announcement, another cited a 5 percent decline followed by a 3 percent rebound, and a third described a roughly 6 percent drop on the day. No source provided definitive post-trade pricing, leaving the exact market impact unclear. While both companies affirm loyalty programmes will stay intact, they have not disclosed whether Sandals guests will earn or redeem cruise points.

Royal Caribbean Nears $3 Billion Deal for Half of Sandals Resorts — BigGo Finance

• “For nearly 60 years, we've reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” — Jason Liberty, chairman and CEO

Royal Caribbean to acquire 50% stake in Sandals Resorts for $3 billion

• “We’re entering all-inclusives for the same reason we entered river cruising,” — Jason Liberty, chairman and CEO

Orlando Sentinel

These statements capture the strategic vision of both CEOs.

Travelweek