Royal Caribbean Buys 50% Stake in Sandals and Beaches Resorts

Royal Caribbean Group has acquired a 50% stake in Sandals and Beaches Resorts as the cruise giant moves into the all-inclusive space for the first time.

Financial news outlets began to spread word about this potential acquisition yesterday afternoon. At around 1 am this morning, Royal Caribbean sent out a press release saying that they have signed an agreement to form a partnership to buy a 50% stake in Sandals Resorts.

The companies will offer an unparalleled collection of cruise, private destination and resort experiences in the Caribbean.

The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.

The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts.

Existing reservations, loyalty programs, resort operations, and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.

Royal Caribbean is paying approximately $3 billion for the 50% equity stake and has secured committed debt financing through Morgan Stanley to fund the investment. The deal is expected to close in early 2027.

Jason Liberty, Chairman and CEO, Royal Caribbean Group, gave the following statement:

“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories. We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests.

“Our partnership with Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”

Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts, added:

“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go. This partnership is the natural next step in building on that conviction.

“It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.

“As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”

This is not the first time that Royal Caribbean has looked into buying a resort. A few years ago, they were in talks to buy the Grand Lucayan Resort in Freeport, Bahamas, but the deal never went through.

The cruise giant also received government approval to buy the long-closed Xanadu Beach Hotel in Freeport in the spring of 2025. The deal went through this summer, and Royal Caribbean paid $30 million for it.

The Tribune reported that Royal Caribbean was also in the final stages of completing a deal to buy the Royal Oasis on Grand Bahama Island, with plans to use it to create a private destination for their guests.

Last summer, Royal Caribbean’s main competitor, Carnival Cruise Line, opened a private beach destination, Celebration Key, on Grand Bahama Island for their ships to visit.

Royal Caribbean currently owns three cruise lines (Royal Caribbean, Celebrity Cruises, and Silversea), and a 40% stake in the Grand Bahama shipyard.