On September 23, 2026, Royal Caribbean Group announced a landmark agreement to acquire a 50% equity stake in Sandals Resorts for approximately $3 billion dollars.
The blockbuster joint venture values the iconic Caribbean all-inclusive resort company at roughly $6 billion and represents a major shift in the global vacation industry.
The transaction, which is expected to close in early 2027, will be financed through committed debt funding from Morgan Stanley. By combining one of the world’s largest cruise operators with one of the Caribbean’s best-known luxury resort brands, the partnership significantly expands Royal Caribbean’s presence beyond the cruise sector.
Royal Caribbean’s approximately $3 billion investment will secure a 50% ownership position in Sandals Resorts, implying an overall valuation of approximately $6 billion.
Governance of the new joint venture will be shared between the two companies, with Royal Caribbean Group Chairman and CEO Jason Liberty and Sandals Executive Chairman Adam Stewart providing board leadership.
The deal encompasses Sandals’ portfolio of 20 premier all-inclusive resorts throughout the Caribbean, spanning two of the region’s most recognizable hospitality brands.
Sandals Resorts represents the company’s adults-only luxury offering, with properties across Antigua, The Bahamas, Barbados, Curaçao, Grenada, Jamaica, St. Lucia, and St. Vincent.
Beaches Resorts serves the family vacation market, with large all-inclusive properties in Jamaica and Turks and Caicos.
Together, the brands give Royal Caribbean an immediate and substantial presence in the Caribbean’s land-based luxury vacation market.
The investment represents a major step in Royal Caribbean Group’s strategy to compete across the broader global vacation market rather than focusing exclusively on cruises. Adding a significant land-based resort business could also provide greater diversification when demand fluctuates across individual cruise markets or regions.
The partnership could eventually create new connections between cruise and resort vacations. Although existing reservations and loyalty programs remain unchanged for now, the companies intend to explore joint vacation packages, expanded distribution, and cross-brand benefits. Those opportunities could potentially include special resort access or other exclusive experiences for Royal Caribbean’s most loyal guests.
The deal ultimately brings together two major names in leisure travel—one built at sea and the other on land—and could create a more integrated vacation platform spanning cruises, resorts, and Caribbean destinations.
