Royal Caribbean takes 50% stake in Sandals, Beaches resorts venture for USD 3 billion
RCL•Royal Caribbean forms joint venture with Sandals Resorts
- Royal Caribbean Cruises agreed to form a joint venture with Sandals Resorts, taking a 50% stake in Sandals and Beaches Resorts.
- Deal values the stake at about USD 3 billion, implying a forward EBITDA multiple of about 10x.
- Morgan Stanley committed debt financing to fund the investment.
- Closing expected in early 2027, subject to customary approvals; transaction expected to be accretive to earnings next year.
Partnership expands Royal Caribbean into all-inclusive resorts
Partnership expands Royal Caribbean into all-inclusive resorts, aiming to accelerate Sandals and Beaches growth across the Caribbean.
