From left: Jason Liberty, chairman and CEO of Royal Caribbean Group, and Adam Stewart, executive chairman of Sandals Resorts. (Royal Caribbean Group)
BRIDGETOWN, Barbados — The CARICOM Private Sector Organization has hailed Royal Caribbean Group’s planned US$3 billion investment in Sandals Resorts and Beaches Resorts as a milestone for Caribbean business, saying the partnership could bring more visitors and new opportunities for regional suppliers.
Under the announced deal, Royal Caribbean Group would acquire a 50% stake in the resort enterprise. The transaction values Sandals at approximately US$6 billion and is expected to close in early 2027, subject to customary approvals, according to the CPSO.
The organization congratulated Sandals Executive Chairman Adam Stewart and his team, saying the deal shows that a company founded and headquartered in the Caribbean can attract investment on a global scale. It also paid tribute to the late Sandals founder Gordon “Butch” Stewart, whose ambition was to build a Caribbean brand with an international presence.
For Antigua and Barbuda and other destinations where Sandals operates, the CPSO said the companies’ combined reach could increase visitor arrivals and strengthen connections between air travel, cruises and resort stays. It named Jamaica, Saint Lucia, the Bahamas, Barbados, Grenada and St. Vincent and the Grenadines among the destinations that could benefit.
The group also urged Caribbean businesses to capture more of the spending that could follow. It pointed to opportunities for farmers, food processors, manufacturers and service providers to supply the tourism industry, keeping more of its earnings within the region.
The CPSO described the deal as an example of how Caribbean companies can use the CARICOM Single Market and Economy to grow and attract major investment. It said Sandals would enter the partnership with its Caribbean headquarters, leadership and identity intact.
“This is a proud day for the CARICOM private sector,” CPSO CEO and Technical Director Patrick Antoine said. “Sandals is proof that the Caribbean produces not only world-class destinations but world-class companies.”
Antoine said the organization was ready to work with Sandals to help translate the partnership into jobs and supply-chain opportunities across CARICOM.
This article was originally published by Antigua News Room. Read the original article here: CARICOM Private Sector Group Hails Royal Caribbean’s Planned US$3 Billion Sandals Investment.