Royal Caribbean Group agreed to invest about $3 billion for a 50% stake in Sandals and Beaches Resorts, forming a joint venture with the Stewart family, which will retain the other half. The deal is expected to close in early 2027, subject to regulatory approvals.
The venture will combine Sandals and Beaches’ Caribbean resort portfolio with Royal Caribbean’s cruise, private-destination and vacation businesses. Royal Caribbean said the deal is expected to add to earnings next year; existing reservations, loyalty programs, and resort and cruise operations will continue as usual.
The joint venture will be overseen by a board co-led by Royal Caribbean chairman and CEO Jason Liberty and Sandals executive chairman Adam Stewart. Stewart will remain in his Sandals and Beaches role and continue overseeing the brands’ long-term growth strategy.
