WILLEMSTAD – Royal Caribbean Group is making a major move into the Caribbean all-inclusive resort market with an approximately $3 billion investment in Sandals and Beaches Resorts, creating a partnership that could eventually connect cruise vacations, resorts, private destinations and loyalty programs across the region.
The transaction is particularly relevant to Curaçao because Sandals operates Sandals Royal Curaçao, the luxury adults-only resort at Santa Barbara. Royal Caribbean, meanwhile, is one of the major cruise companies serving the Caribbean, making the agreement a significant convergence between two important segments of the region’s tourism industry.
According to Caribbean Journal, Royal Caribbean Group will acquire an equity interest in Sandals and Beaches Resorts for approximately $3 billion. The percentage of Sandals that Royal Caribbean will own has not been disclosed.
Royal Caribbean Group is the parent company of Royal Caribbean International, Celebrity Cruises and Silversea.
The transaction is expected to close in early 2027, subject to regulatory approvals and customary closing conditions. Royal Caribbean has secured committed debt financing from Morgan Stanley to finance the investment.
The new joint venture will be overseen by a board under the shared leadership of Royal Caribbean Group Chairman and CEO Jason Liberty and Sandals Resorts Executive Chairman Adam Stewart. Stewart will remain Executive Chairman of Sandals and Beaches Resorts and continue overseeing the hotel company's long-term strategy.
The deal effectively takes Royal Caribbean beyond its traditional cruise business and gives the company exposure to a major portfolio of land-based all-inclusive resorts.
For Sandals, the partnership provides additional capital and distribution reach as the company accelerates expansion throughout the Caribbean.
Beaches has already outlined a $1 billion Caribbean expansion strategy, while Sandals is investing another $200 million in the transformation of three resorts in Jamaica.
For Curaçao, the transaction comes at a time when the island's all-inclusive hotel sector is expanding rapidly.
Sandals Royal Curaçao has become one of the island's major luxury all-inclusive properties, while other international brands have also expanded their presence. The recently opened TUI BLUE Curaçao and the planned 305-room adults-only Pyrmont Curaçao Beach Resort, part of Marriott's Autograph Collection, are further expanding the island's all-inclusive inventory.
The Royal Caribbean-Sandals agreement could eventually create additional opportunities for combining cruise and land-based vacations. Both companies said they intend to explore ways to broaden distribution, deepen guest engagement and make it easier for travelers to discover experiences across their respective portfolios.
However, no specific cruise-and-resort packages involving Curaçao or Sandals Royal Curaçao have been announced.
There will also be no immediate changes for guests. Existing Sandals and Beaches reservations will continue normally, as will Royal Caribbean's cruise operations. The companies' existing loyalty programs will also remain in place for the time being.
Over the longer term, loyalty could become an important part of the partnership. Royal Caribbean has been developing a broader loyalty platform across its vacation businesses, creating the possibility of closer connections between cruise passengers and Sandals or Beaches resort guests. Details of reciprocal benefits have not yet been announced.
The agreement is also significant for the wider Caribbean tourism industry because cruise lines and all-inclusive resorts have traditionally competed for many of the same travelers. The Royal Caribbean investment brings two major Caribbean vacation businesses into a strategic partnership spanning both sea- and land-based tourism.
For Curaçao, where policymakers are increasingly discussing how to maximize the economic value of tourism while managing continued growth, the deal adds another dimension to the island's changing tourism landscape: one of the world's largest cruise groups will now have a financial interest in the company behind one of Curaçao's prominent luxury resorts.