Royal Caribbean is reportedly close to finalizing a deal to acquire a majority stake in Sandals Resorts International, a Caribbean-based company specializing in couples-only vacation resorts. The transaction is expected to value Sandals at more than $6 billion and would represent Royal Caribbean’s largest acquisition to date.
The move is part of Royal Caribbean’s broader strategy to expand its offerings beyond its cruise fleet and into land-based hospitality. The acquisition would give Royal Caribbean control over Sandals’ portfolio of 20 resorts spread across several Caribbean islands, including St Vincent, St Lucia, and Barbados. This would enable the cruise company to cross-sell vacations on land alongside its sea-based cruises.
Negotiations come after several years of uncertainty surrounding the potential sale of Sandals, which were complicated by the passing of company founder Gordon “Butch” Stewart in 2021. His death led to family disputes and legal challenges over the management of his estate and the businesses under its control. Under the terms currently being discussed, some members of the Stewart family would retain minority equity stakes while Royal Caribbean becomes the controlling shareholder. In the longer term, Royal Caribbean may assume full ownership.
Sources close to the discussions suggest that an agreement could be reached soon, but warn that the talks remain subject to change and could still fall through. Neither Royal Caribbean nor Sandals Resorts have publicly commented on the potential deal.
Sandals Resorts markets itself primarily as a romantic destination, offering accommodations exclusively for couples, while its sister brand, Beaches Resorts, caters more to families. The resorts are known for their scenic waterfront locations and luxury amenities tailored to leisure travelers.
Royal Caribbean, led by CEO Jason Liberty, has emerged as a dominant player in the cruise industry, with a market capitalization around $66 billion—significantly larger than its U.S. competitors, Carnival Corporation and Norwegian Cruise Line. The company operates a fleet of 71 ships and also manages island resorts such as Perfect Day at CocoCay in the Bahamas, available exclusively to its cruise guests.
Despite strong growth following the challenges of the COVID-19 pandemic, the cruise sector has faced some headwinds in 2026. Regional instability linked to the conflict in Iran and other geopolitical concerns have dampened demand, particularly in Europe. As a result, Royal Caribbean recently lowered its full-year revenue growth forecast from 10 percent to 9 percent. However, the Caribbean market remains relatively resilient and has been highlighted as a key strength for the company.
Royal Caribbean’s share price has declined approximately 9.3 percent so far this year as of mid-September, reflecting broader market uncertainties affecting the travel and leisure industry.