By: Staff Writer
September 25, 2026
Royal Caribbean Group is in talks to buy a 50 percent stake in the Sandals that was value the transaction at $6 billion according to reports from the Financial Times.
According to sources familiar with the matter cited by the Financial Times, Royal Caribbean would become the controlling shareholder under the proposed transaction, while members of the family of founder Gordon ‘Butch’ Stewart would retain an equity stake.
Founded in Jamaica in 1981 by the late Gordon ‘Butch’ Stewart, Sandals Resorts International has grown into one of the Caribbean’s premier hospitality entities, operating the Sandals and Beaches resort brands across the region and employing approximately 20,000 people.
If finalized, the transaction would mark a major diversification by Royal Caribbean beyond its core cruise ship operations into the land-based, all-inclusive resort market. Royal Caribbean currently operates private island destinations for its cruise guests and has been seeking to expand its land-based offerings.
The acquisition talks come during a challenging market period for the cruise line, whose shares have dropped by roughly 25 per cent over the past year, according to CNBC.
Sandals, which was established in 1981, is a privately-owned operator with 17 resorts under its brand name, as well as three family resorts, and two private destinations in the Bahamas and Panama.
The company was developed as a luxury, couples-only concept, and today has locations in Jamaica, the Bahamas, Saint Lucia, Grenada, Barbados, Antigua, Curacao, and the Turks & Caicos. It started the family resort brand Beaches in 1997 and has locations in Jamaica and Turks & Caicos.
The company’s core concept was luxury, all-inclusive resorts, launched by developer Gordon “Butch” Stewart. The Financial Times reports the deal would value the business at more than $6 billion and give Royal Caribbean a majority stake in the company.
It sees the motivation as a move by the cruise giant to diversify and create opportunities to cross-sell.
While a global company, Royal Caribbean continues to derive the majority of its revenue from North America and has a large presence in the Caribbean.
Today it operates the contemporary brand, Royal Caribbean, premium brand, Celebrity Cruises, and luxury brand Silversea Cruises, and is a joint venture partner with TUI Group in Mein Schiff and Hapag-Lloyd Cruises.