Royal Caribbean Group has officially acquired a 50% equity stake in Sandals Resorts for $3 billion. This transaction values the Caribbean resort operator, which includes both Sandals and Beaches brands, at $6 billion. The deal was announced on September 23, 2026, and is expected to close in early 2027, subject to customary approvals.
This partnership marks a significant move for Royal Caribbean Group to diversify its offerings beyond cruises and strengthen its position in the broader vacation market. The cruise operator aims to expand into the all-inclusive resort space, leveraging Sandals' over four decades of experience in Caribbean hospitality. The joint venture will explore opportunities to broaden distribution and deepen guest engagement across both companies' portfolios.
The agreement brings together two prominent travel companies, combining Sandals' expertise in all-inclusive resorts with Royal Caribbean Group's vacation platform, which includes brands like Royal Caribbean, Celebrity Cruises, and Silversea. Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, will co-lead a board governing the joint venture. Stewart will maintain his leadership role in guiding Sandals' long-term strategic growth.
This investment is funded by committed debt financing from Morgan Stanley and is expected to be accretive to Royal Caribbean Group's earnings next year. The deal underscores Royal Caribbean's intent to become a leader in overall vacations, building on its existing portfolio of private destinations. Sandals operates more than a dozen properties across the Caribbean, providing Royal Caribbean with a strong foothold in the all-inclusive sector.
