Royal Caribbean Buys Half of Jamaica's Sandals in a US$3 Billion Deal

Royal Caribbean Group is taking a 50% stake in the Jamaica-founded Sandals and Beaches Resorts, tying the region's biggest cruise line to its best known all-inclusive brand.

Royal Caribbean Group is buying a 50% stake in Sandals and Beaches Resorts for about US$3 billion, in a deal announced on September 22 that binds the region's largest cruise operator to the Caribbean's best known all-inclusive brand.

The pairing is a bet on where Caribbean tourism spending is heading. A cruise line that moves millions of visitors through the region each year gains a land-based, high-margin resort footprint, while Sandals, built in Jamaica and run by the Stewart family, gains the balance sheet and distribution of a global operator.

For Jamaica, the transaction is a marker of the value now attached to a homegrown hospitality business. Sandals began with a single property in Montego Bay and became the flagship of Caribbean all-inclusive travel; a half-stake priced near US$3 billion sets a number on that four-decade build.

Terms are as announced by the companies on September 22, 2026. The Ledger will follow the regulatory and closing conditions as they are disclosed.