Royal Caribbean nears $3 billion deal to take 50% equity stake in Sandals

Royal Caribbean is nearing a $3 billion deal to acquire a 50% equity stake in Sandals, the all-inclusive resort operator, according to a person familiar with the matter reported by CNBC. The transaction marks a significant push by the cruise operator to diversify its business model beyond ocean voyages and establish itself as a broader vacation provider.

The deal would represent one of the largest diversification moves in Royal Caribbean's history, pairing its cruise fleet with Sandals' portfolio of Caribbean resort properties. Sandals operates luxury all-inclusive resorts across multiple Caribbean destinations, typically catering to couples and honeymooners. The 50% stake structure suggests a joint-venture approach rather than a full acquisition, allowing Royal Caribbean to expand its vacation offerings while Sandals retains operational control and existing management.

Royal Caribbean has been pursuing growth opportunities outside traditional cruise operations as the industry seeks to broaden revenue streams and reduce dependence on ship-based travel alone.