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(6:00 p.m. EDT) — Royal Caribbean may be on the verge of buying a majority stake in Sandals Resorts International, according to a report from the Financial Times.
The deal, valued at more than $6 billion, would be the biggest in the cruise line's history and would expand Royal Caribbean's efforts to cater to land travelers as well as cruisers.
According to the report, the family of Sandals founder Gordon Steward, who passed away in 2021, would retain equity holdings in the business. Royal Caribbean would become the controlling shareholder with an eye to eventually taking full control of the all-inclusive resort company.
The report indicated that while the deal is not yet finished and may still collapse, an agreement could arrive in the coming days.
Founded in 1981 by Stewart in Montego Bay, Jamaica, Sandals currently operates 17 resorts in various Caribbean islands, including Jamaica, Saint Lucia, the Bahamas, Barbados, Antigua, Curacao, Grenada, and Saint Vincent.
Royal Caribbean has also been busy investing in private destinations in the Bahamas and the Caribbean. The cruise line operates Perfect Day at CocoCay and recently opened the Royal Beach Club Paradise Island in Nassau. Meanwhile, Royal Beach Club Cozumel is slated to arrive in 2028.