Royal Caribbean Group to acquire 50% stake in Sandals
The $3 billion joint venture will extend the cruise company’s reach into land-based all-inclusive resorts.
Sandals has announced a $3 billion agreement under which Royal Caribbean Group will acquire a 50% equity stake in the resort operator. The transaction is structured as a joint venture and marks an expansion by Royal Caribbean Group into the land-based all-inclusive resort sector.
The deal also adds a new element to the relationship between the cruise and resort industries, bringing together Royal Caribbean Group and the operator of the Sandals and Beaches brands.
Omar Josephs, senior manager at Unique Vacations Canada, said the partnership would give the company greater capacity to grow while retaining the qualities associated with Sandals and Beaches.
Josephs also said existing reservations, rates and contracted agreements would remain unchanged. According to him, clients and groups can expect the Sandals and Beaches experiences they previously arranged to proceed as planned.
