VICI Properties to Redevelop 150-Key St. Croix Resort with Club Med Lease
VICI•VICI Properties has acquired Carambola Beach Resort in St. Croix for redevelopment into Club Med’s 150-key Exclusive Collection resort under a long-term triple-net lease. Construction begins summer 2026 with a targeted Q4 2027 reopening, projected to create 200 direct jobs and support sustainable tourism.
1. Partnership Details
VICI Properties acquired Carambola Beach Resort in St. Croix and entered a long-term triple-net lease with Club Med, which will operate the 150-key property under its Exclusive Collection brand.
2. Redevelopment Scope and Timeline
VICI will fund a comprehensive renovation that preserves the site’s natural beauty and historic roots, with construction beginning in summer 2026 and a targeted reopening in Q4 2027.
3. Economic and Community Impact
The redevelopment is expected to generate approximately 200 direct jobs and an equal number of indirect positions, engage local suppliers and artisans, and pursue BREEAM and Green Globe sustainability certifications.
4. Strategic Fit for VICI
The St. Croix project expands VICI’s experiential real estate portfolio into the U.S. Virgin Islands, reinforcing its strategy of securing operator-led, premium resort assets with stable, long-term lease income.
