Royal Caribbean Buys 50% Stake in Sandals Resorts for $3 Billion

Royal Caribbean Group is expanding beyond ocean cruising into land-based all-inclusive resorts by acquiring a 50% equity stake in Sandals Resorts International for $3 billion, valuing the Caribbean resort chain at $6 billion. The transaction, which is expected to close in early 2027, marks a major strategic diversification for the cruise operator into terrestrial hospitality.

"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," said Jason Liberty, Royal Caribbean's chairman and CEO, in a news release.

Joint Venture Structure and Properties

The newly formed joint venture will oversee Sandals and Beaches' collection of 20 all-inclusive properties operating across the Caribbean. Family members of founder Gordon 'Butch' Stewart will retain the remaining 50% equity stake in the hospitality company.

"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," said Adam Stewart, executive chairman of Sandals Resorts and Beaches Resorts, in an Orlando Sentinel report.

Leadership of the joint venture will be shared through a governing board led jointly by Adam Stewart and Jason Liberty. Royal Caribbean Group secured committed debt financing from Morgan Stanley to fund the $3 billion investment.

Market Response and Equity Performance

Following the transaction announcement, Royal Caribbean Cruises Ltd (NYSE: RCL) stock traded at $242.70, rising 1.56% from its previous close of $238.98, according to Finnhub market data as of September 25, 2026.

What Is at Stake for the Tourism Sector

The acquisition bridges two distinct segments of the leisure travel industry, combining large-scale cruise operations with premier land-based resorts. By securing a half-stake in Sandals' established footprint, Royal Caribbean broadens its portfolio to capture recurring consumer vacation spending both at sea and on land across the Caribbean region.