Royal Caribbean shares fall on reports of potential Sandals deal
Reports offered differing descriptions of the possible transaction, which neither company had confirmed.
Royal Caribbean shares closed down 8.24% on 22 September after the Financial Times reportedly said the cruise operator was nearing a deal for Sandals Resorts International that would value the hotel group at more than $6bn. The stock traded as low as $234.98, while volume exceeded five times its 20-day average.
CNBC reportedly described a $3bn transaction for a 50% equity stake in Sandals. Other accounts characterized the potential acquisition as involving a majority stake but did not specify a price or percentage.
Neither Royal Caribbean nor Sandals had issued a statement confirming either reported structure. A review of Royal Caribbean’s EDGAR filing history also found no 8-K referring to Sandals.
Sandals is a family-controlled operator of adults-only, all-inclusive Caribbean resorts chaired by Adam Stewart. Royal Caribbean reported net income of $1.128bn on revenue of $4.83bn for the second quarter of 2026. Separately, Royal Caribbean Cruises Ltd. was reported to have slid 5.52%.
