A Caribbean-born hospitality brand is entering a new partnership with one of the world’s largest cruise companies, with Royal Caribbean Group agreeing to invest approximately US$3 billion for a 50 per cent stake in Sandals and Beaches Resorts.
The agreement, announced in a statement on Wednesday, will create a 50-50 joint venture between Royal Caribbean Group and Sandals.
Sandals, which was founded by the late Jamaican businessman Gordon “Butch” Stewart in 1981, is now run by his son Adam Stewart, who serves as executive chairman of Sandals and Beaches Resorts.
In a social media post, Stewart wrote: “Sandals will remain Sandals. Beaches will remain Beaches. Our home is the Caribbean.”
He said the partnership would keep employees, travel advisers and the company’s longstanding approach to hospitality at the centre of the business while supporting its international expansion and preserving the brands’ Caribbean identity.
In the statement announcing the partnership, Stewart said his father 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, and “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,” he added.
Chairman and CEO of Royal Caribbean Group, Jason Liberty, added that the Sandals partnership marks “an important next step” in Royal Caribbean’s efforts to build a wider vacation platform.
The companies said the joint venture will be jointly governed, with Liberty and Stewart serving as co-chairmen of the board.
The transaction is expected to close in early 2027, subject to customary closing conditions and regulatory approvals.
Sandals and Beaches Resorts currently have a combined portfolio of 20 all-inclusive resorts across 10 Caribbean islands. The properties are located in Jamaica, Antigua, The Bahamas, Saint Lucia, Grenada, Barbados, Curaçao, St Vincent and the Grenadines, and Turks and Caicos.
