KINGSTON, Jamaica – The Jamaica-based Sandals Resort has announced that it had entered into an agreement with the US-based Royal Caribbean Group (RCL) to form a partnership in the all-inclusive resort space with RCL making a 50 per cent investment.
Under the terms of the agreement, Royal Caribbean Group will acquire a 50 per cent equity interest in Sandals and Beaches Resorts for approximately three billion US dollars. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment.
The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.
“Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform,” the parties said in a joint statement following the signing of the agreement by RCL chairman and chief executive officer, Jason Liberty, and Sandals Resorts executive chairman, Adam Stewart.
The statement said that the partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty programme.
The two companies said that they will offer travellers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.
The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately two trillion US dollars global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion.
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.
“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,” said Liberty, adding “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,” Liberty said.
Stewart said that his father, Gordon ‘Butch’ Stewart, had 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,” Stewart said.
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.
Royal Caribbean Group operates 71 ships sailing to more than 1,000 destinations across all seven continents through its three wholly owned brands – Royal Caribbean, Celebrity Cruises, and Silversea – and a 50 per cent joint venture interest in TUI Cruises, which operates the Mein Schiff and Hapag-Lloyd brands.
Named to the Fortune World’s Most Admired Companies 2026 list and to Forbes’ 2026 Best American Companies lists, Royal Caribbean Group is guided by its mission to deliver the best vacations responsibly.
Sandals and Beaches Resorts has been redefining the region’s all-inclusive experience for more than four decades. Sandals Resorts is the adults-only all-inclusive brand with beachfront resorts across Jamaica, Antigua, St. Lucia, The Bahamas, Barbados, Grenada, Curaçao, and Sr. Vincent and the Grenadines.
Beaches Resorts is the family all-inclusive with resorts in Negril, Jamaica and Turks and Caicos, and coming soon to Exuma, The Bahamas; Barbados; Runaway Bay, Jamaica; and St. Vincent and the Grenadines.
