Royal Caribbean Buys 50% of Sandals Resorts in a $3 Billion Deal: What It Means for Cruisers
Royal Caribbean Group is moving onto dry land with a half share in Sandals and Beaches Resorts. Here's what changes for your next cruise, and what doesn't.
By The Walking Cruiser | 23 September 2026
Royal Caribbean Group has signed a deal to buy a 50% stake in Sandals Resorts for around $3 billion, making the world's biggest cruise company a co-owner of the Caribbean's best-known all-inclusive resort brand. So, for now, nothing changes if you're booked on a ship or at a Sandals resort. But this is the clearest sign yet that Royal Caribbean wants to own your whole holiday, not just the bit that floats.
Key Facts
What: Royal Caribbean Group is taking a 50% equity interest in Sandals Resorts and its family brand, Beaches Resorts
Price: Approximately $3 billion, funded with committed debt financing from Morgan Stanley
When: Announced 23 September 2026, expected to close in early 2027 subject to approvals
Who runs it: A joint board led by Royal Caribbean Group CEO Jason Liberty and Sandals Executive Chairman Adam Stewart
Bookings and loyalty: Existing reservations, loyalty programmes and cruise operations carry on as normal
Scale: The Financial Times reported the business covers around 20 resort properties across the Caribbean
What Actually Happened
Royal Caribbean Group and Sandals confirmed on Wednesday that they've agreed to form a joint venture in the all-inclusive resort space, with Royal Caribbean buying half the company. Cruise Industry News broke down the terms: roughly $3 billion for the 50% stake, which works out at about ten times the resort business's expected forward earnings. Royal Caribbean has lined up loan financing from Morgan Stanley to pay for it, and the group expects the deal to add to its earnings next year.
Now, this didn't come completely out of nowhere. A day earlier, on 22 September, the Financial Times reported that Royal Caribbean was close to buying Sandals in a deal valuing the company at more than $6 billion. The maths lines up. Half the business for $3 billion puts the whole thing at around $6 billion.
But there's one interesting difference. The FT's sources described Royal Caribbean taking a controlling, majority position. What was actually announced is a straight 50/50 split, with a board shared between the two sides and Adam Stewart staying on as Executive Chairman of Sandals and Beaches. So Royal Caribbean isn't taking over Sandals. It's buying in as an equal partner.
Why Royal Caribbean Wants a Resort Company
Well, the official line is about growth. The companies framed the partnership as Royal Caribbean stepping into a neighbouring part of the holiday market, which they put at roughly $2 trillion globally, while giving Sandals the money to open more resorts faster.
Jason Liberty summed up the ambition as turning "the vacation of a lifetime into a lifetime of vacations." Strip out the marketing gloss and the idea is simple. Right now, if a family does a Royal Caribbean cruise one year and a Caribbean resort the next, Royal Caribbean only gets paid for the cruise. With this deal, they get a cut of the resort holiday too.
And if you've been watching Royal Caribbean closely, this fits a pattern. The company has spent years building land-based products around its ships. Perfect Day at CocoCay turned a private island into one of the main reasons people book a Bahamas cruise. Royal Beach Club Paradise Island pushed that idea into Nassau. Every one of those moves keeps more of your holiday spending inside the Royal Caribbean family. Buying into Sandals is the same strategy, just on a much bigger scale and with overnight stays instead of day passes.
There's also some backstory on the Sandals side. According to the FT, the family has tried to sell the business on and off for years. Founder Gordon "Butch" Stewart attempted a sale before his death in 2021, the pandemic stalled it, and family disputes over the estate followed. Bankers were brought in last year to run a new sale process. So this deal also settles a long-running question about who would end up backing the brand.
What This Means for Cruisers
So here's the honest answer if you're sailing with Royal Caribbean, Celebrity or Silversea in the next few months: nothing changes. Both companies were clear that existing bookings, loyalty programmes and day-to-day operations continue as usual. And the deal hasn't even closed yet. That's not expected until early 2027, and it still needs the usual approvals.
After that, it gets more interesting. The two companies said they'll look at ways to widen distribution, deepen guest engagement and make it easier for travellers to find holidays across both portfolios. That's corporate phrasing, but it points to a few obvious possibilities:
Cruise and stay packages. Most Royal Caribbean Caribbean itineraries start from Florida, but a pre or post cruise stay at a Sandals or Beaches resort bundled into one booking is the natural first product. Nothing has been announced, though, so don't book around it yet.
Loyalty crossover. Crown & Anchor Society members might eventually see perks at Sandals, or the other way round. Again, this is speculation. Neither company has said a word about linking loyalty schemes, and they specifically said current programmes carry on as they are.
Family and couples marketing. Sandals is aimed at couples, while Beaches is the family brand. That maps neatly onto Royal Caribbean's own mix: big family ships like the Oasis and Icon classes, and more grown-up options through Celebrity. Expect to see cross-promotion, even if it's just adverts in the app and onboard.
The thing I'd keep an eye on is pricing. Royal Caribbean didn't buy half of Sandals for $3 billion to discount it. If bundles do appear, check them against booking the cruise and the resort separately. Bundles aren't always cheaper, they're just easier.
Is This Good News or Bad News?
Honestly, it's mostly neutral for now, with some upside. Royal Caribbean has a strong track record with land-based products. CocoCay is genuinely one of the best private destinations in cruising, whatever you think of the prices once you're there. If that same attention to detail filters into how cruise and resort holidays are sold together, a lot of people will find booking easier.
But there are fair concerns too. It's another step towards a handful of huge companies owning more of the Caribbean holiday market. And some Sandals regulars will worry about a cruise giant changing the feel of resorts they've loved for decades. The 50/50 structure, with the Stewart family keeping a leading role, should calm that worry at least in the short term.
One thing that isn't in the announcement: any change to Royal Caribbean ships, itineraries or new port calls linked to Sandals locations. So if you've seen social media posts claiming your next cruise will stop at a Sandals resort, that isn't something either company has said.
FAQ
Did Royal Caribbean buy Sandals Resorts?
Royal Caribbean Group agreed to buy a 50% stake in Sandals Resorts, not the whole company. The deal is worth approximately $3 billion and includes the family-focused Beaches Resorts brand. The Stewart family keeps the other half, and Adam Stewart remains Executive Chairman.
When does the Royal Caribbean and Sandals deal close?
The deal is expected to close in early 2027. It still needs the usual regulatory approvals and closing conditions. Until then, Sandals and Royal Caribbean carry on as completely separate businesses.
Will my Sandals or Royal Caribbean booking change?
No. Both companies confirmed that existing reservations, loyalty programmes, resort operations and cruise operations will continue as usual. You don't need to do anything with a current booking.
Can I earn Crown & Anchor points at Sandals?
Not at the moment, and there's no announcement that you ever will. The companies said they'll explore ways to connect guests across both brands, but no loyalty link has been confirmed. Treat any claims otherwise as rumour until Royal Caribbean says so officially.
Will Royal Caribbean offer cruise and Sandals packages?
It's a likely possibility, but nothing has been announced. The companies have talked about making it easier to discover holidays across both portfolios, which points towards bundled cruise and resort trips in future. For now, you'd still book them separately.
Final Thoughts
So, Royal Caribbean now wants to be where you sleep before and after the cruise, not just on the ship. For the next few months, it's business as usual. But once this closes in 2027, I'd expect the first cruise and resort bundles to follow fairly quickly, and I'll be pulling them apart here when they do.
Would you book a Sandals stay tacked onto a Royal Caribbean cruise, or would you rather keep them separate? Let me know in the comments. And if you want honest takes on the ships themselves, subscribe to The Walking Cruiser on YouTube for full ship tours and reviews.
