Royal Caribbean Group has acquired a 50% stake in Sandals and Beaches Resorts, in a deal worth US$3 billion.

The two companies announced the deal on September 23, 2026. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions.

“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, Sandals Resorts and Beaches Resorts.

Stewart and Jason Liberty, Chairman and CEO, Royal Caribbean Group, say the new partnership pairs Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including Royal Caribbean, Celebrity Cruises and Silversea, private island destinations and river cruising. 

Liberty said the joint venture expands Royal Caribbean Group into an adjacent vacation category and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. 

The new partnership brings together “two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world,” said Liberty. “The Stewart family has created powerful and beloved brands, and we are honoured 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.”

The joint venture includes all Sandals and Beaches properties across the Caribbean, with an eye to expansion. 

Liberty said the companies will explore opportunities to broaden distribution, deepen guest engagement and make it easier for travellers to access vacation experiences offered across both portfolios. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment.

“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,” said Stewart.

Stewart added: “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.”

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. 

Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.

Source: Travelweek
Lead image caption: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, signing off on their companies’ new partnership, at Royal Caribbean Group’s Miami HQ.