Royal Caribbean Bets on Sandals Land Bank for Vacation Wallet

Royal Caribbean Group’s planned investment in Sandals and Beaches Resorts is about keeping guests inside the company’s ecosystem no matter how they choose to vacation, according to Jason Liberty, chairman and CEO.

“Our strategy is to turn the vacation of a lifetime into a lifetime of vacations,” Liberty said on the company’s third quarter earnings call on Tuesday.

Royal Caribbean is paying approximately $3 billion for a 50 percent stake in the all-inclusive resort operator, about 10 times forward EBITDA. Liberty said the deal was expected to be immediately accretive to earnings while keeping the company within its leverage targets.

The transaction is expected to close in early 2027 and will be accounted for as an equity method investment on a one-quarter lag.

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