Royal Caribbean plans US$3 billion stake in Sandals and Beaches
The proposed transaction covers 18 operating resorts, three properties under development and more than 1,000 acres of undeveloped Caribbean land.
Royal Caribbean Group plans to pay about US$3 billion for a 50% stake in Sandals and Beaches Resorts. The company said the purchase will be funded through committed debt financing from Morgan Stanley, implying a valuation of approximately US$6 billion for the resort business.
Company filings and investor materials indicate that the transaction includes 18 operating resorts, three resorts under development and more than 1,000 acres of undeveloped Caribbean land. Some of that land adjoins existing resort properties.
The portfolio operates across Jamaica, Antigua, Saint Lucia, The Bahamas, Barbados, Grenada, Curaçao, Saint Vincent and the Grenadines, and Turks and Caicos. Jamaica is its largest market, with seven operating Sandals and Beaches resorts.
Royal Caribbean CEO Jason Liberty said the company does not intend to bring cruise ships to Sandals Saint Vincent and tender passengers into the resort, emphasizing that the Sandals and Beaches brands would retain their respective identities.
The deal is expected to close in early 2027, pending regulatory approvals and customary closing conditions. Separately, Royal Caribbean reported quarterly revenue of US$5.6 billion and net income of US$1.7 billion.
