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Landmark partnership brings together two of the Caribbean’s biggest tourism brands as Royal Caribbean makes major move into all-inclusive resorts

TIMES CARIBBEAN | CARIBBEAN BUSINESS & TOURISM NEWS

MIAMI / MONTEGO BAY — September 23, 2026 — In one of the biggest tourism transactions involving a Caribbean hospitality brand, Royal Caribbean Group has agreed to acquire a 50% equity interest in Sandals and Beaches Resorts for approximately US$3 billion.

The agreement creates a major new partnership between the global cruise company and the Jamaica-born all-inclusive resort group, bringing together two businesses with enormous reach across the Caribbean tourism industry. (Royal Caribbean Group Press Center)

Under the deal, Royal Caribbean Group will enter the all-inclusive resort sector while Sandals and Beaches gain additional financial and strategic resources to support future expansion. Royal Caribbean Group’s existing portfolio includes Royal Caribbean, Celebrity Cruises and Silversea, alongside private destinations and other vacation offerings. (Sandals News)

The approximately US$3 billion investment represents a 50% interest and values the transaction at roughly 10 times forward EBITDA, according to the companies. Royal Caribbean has secured committed debt financing from Morgan Stanley to fund the investment. (Royal Caribbean Group Press Center)

The transaction is expected to close in early 2027, subject to customary approvals and closing conditions. Until then, existing Sandals and Beaches reservations, loyalty programmes and resort operations, as well as Royal Caribbean’s cruise operations, are expected to continue as usual. (Sandals News)

The new joint venture will be governed under the shared leadership of Sandals Executive Chairman Adam Stewart and Royal Caribbean Group Chairman and CEO Jason Liberty. Stewart will continue to play a leadership role in the long-term strategic direction of Sandals and Beaches Resorts. (Royal Caribbean Group Press Center)

The agreement marks a significant expansion for Royal Caribbean beyond cruising and gives the company a major position in the Caribbean’s all-inclusive resort market.

For Sandals, founded in Jamaica more than four decades ago, the partnership opens the door to accelerated growth while maintaining the brand’s established identity and regional presence.

The deal immediately stands out as one of the most consequential developments in Caribbean tourism this year — linking a global cruise powerhouse with one of the region’s most recognised home-grown hospitality brands.