Sea-to-land expansion: Royal Caribbean nears $6B Sandals deal

Royal Caribbean is nearing a deal to acquire a majority stake in Sandals Resorts International, valuing the Caribbean all-inclusive operator at more than $6 billion and giving RC control of Sandals’ 20 Caribbean resorts while enabling cross-selling of land-based vacations. The deal would be RC’s largest to date and follows a long sale process sparked by founder Gordon “Butch” Stewart’s 2021 death and ensuing family disputes; some Stewart family members would retain equity with RC potentially taking full control later. Shares fell after the FT report, and talks could still collapse.