Royal Caribbean Group (RCL) just reported another huge quarter on Tuesday, October 27, 2026. Revenue is up, net income is up, and ships are filling up faster than ever.
But one interesting nugget about a 1,000-acre piece of beachfront real estate was brought up during the earnings call, and it was of particular interest to me.
It turns out that $3 billion deal to acquire a 50% stake in Sandals and Beaches Resorts includes way more than just buildings and resorts. Royal Caribbean officially controls a huge 1,000-acre land bank of prime Caribbean beachfront real estate.
The Quick Numbers
It looks like Royal Caribbean is firing on all cylinders. The cruise brand delivered 2.7 million vacations this past quarter alone, driving total revenue up 9% year-over-year to $5.59 billion.
The company reported adjusted earnings per share (EPS) of $6.57 as well, which easily beat Wall Street expectations. Ships ran at 112% occupancy, and early bookings for 2027 sailings are looking strong even at record pricing.
Demand isn’t slowing down and Royal Caribbean bumped up its EPS guidance again, now looking at $17.85 to $17.95 for 2026 (that’s 14% growth year-over-year).
The 1,000-Acre Beachfront Gem
So, the numbers looked strong, but another headline came when analysts began digging into what Royal Caribbean was actually getting out of its $3 billion, 50% stake in Sandals Resorts.
That’s when CFO Naftali Holtz and CEO Jason Liberty revealed that the agreed purchase price includes over 1,000 acres of undeveloped Caribbean beachfront property.
CFO Naftali Holtz emphasized how rare this kind of real estate is, noting on the call:
“The purchase price that we paid and we have agreed to includes that 1,000 acres. This is beachfront key locations. We are very excited about continuing to have the company develop that.”
Much of this land sits right near existing Sandals and Beaches properties, making expansions both a simple and realistic possibility.
Royal Caribbean CEO Jason Liberty made it clear that getting your hands on this much pristine land in the Caribbean today is almost unheard of:
“This is not stuff that you can just go buy off the shelf. This has been curated brilliantly by the Stewart family.”
No, Cruise Ships Aren’t Docking at Sandals Resorts
All that land access doesn’t mean cruise ships will be docking in these locations though.
Jason Liberty set the record straight on the call, addressing those concerns directly:
“I think it is important to be clear, because I know there has been lots of questions that we have gotten about, are we going to show up at Sandals Saint Vincent with a cruise ship and tender people into that beautiful resort? The answer to that is no. Sandals needs to be Sandals. Beaches needs to be Beaches.”
Instead of mixing ship crowds into quiet land resorts, Royal Caribbean wants to use this land to build out the ultimate pre- and post-cruise experience.
About 30% of Royal Caribbean’s loyal cruisers already take all-inclusive land vacations. By expanding the Sandals portfolio across these 1,000 acres, Royal Caribbean can keep those travelers inside their brand family before and after they step foot on a ship.
Pretty smart move if you ask me.
The $3 billion joint venture is expected to officially close in early 2027.
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