THE HON. GORDON “BUTCH” STEWART O.J. 1941-2021: LEGENDARY JAMAICAN ENTREPRENEUR REDEFINED ‘ALL-INCLUSIVE’ AND CHANGED THE WAY THE WORLD WENT ON VACATION
~Master Marketer Made Sandals a Household Name, Brought Opportunity to the Caribbean~
January 5, 2021 –
PROVIDENCIALES, TURKS AND CAICOS ISLANDS – Legendary Jamaican entrepreneur Gordon “Butch” Stewart, one of the
hospitality industry’s most vibrant personalities and founder of Sandals
Resorts International, the world’s leading all-inclusive resort company, has
died at the age of 79. An unstoppable
force, who delighted in defying the odds by exceeding expectations, Stewart
single-handedly built the world’s most awarded vacation brand from one resort in
Jamaica to over two dozen distinct resorts and villas throughout the Caribbean.
A son of Jamaica, Butch Stewart was
born in Kingston on July 6, 1941 and grew up along the island country’s North
Coast, a tropical paradise that now boasts several of his Luxury Included®
Sandals and Beaches Resorts and where his love of the sea, dominoes and free
enterprise were sown. Certain from the
start that he wanted to run his own company, at the tender age of 12, Stewart
first stepped into the hospitality industry selling fresh-caught fish to local
hotels. His success got him ‘hooked’ and
his enthusiasm for entrepreneurship never waned.
After completing his
secondary education abroad, Stewart returned home to Jamaica where he
demonstrated his innate talent as master salesman at the renowned Dutch-owned
Curaçao Trading Company, quickly rising to the position of sales manager but
itching to start his own company. In
1968, Stewart took his chance. With no
collateral but recognizing the comfort that would make air conditioning an essential
service, Stewart convinced American manufacturer Fedders Corporation to allow
him to represent their brand in Jamaica.
With that, Stewart’s foundational business – Appliance Traders Limited
(ATL), was born and he was on his way.
At
ATL, Stewart developed a simple business philosophy he articulated many times: “Find
out what people want, give it to them and in doing so – exceed their expectations.” This
would become the standard for every Stewart enterprise and practiced by every
employee of the many companies Stewart would go on to found, including and
perhaps most importantly, Sandals Resorts International.
Stewart
Founds Sandals Resorts
In 1981,
with a gift for recognizing opportunity, Stewart found one in Bay Roc: a
rundown hotel on a magnificent beach in Montego Bay, Jamaica. Seven months and $4 million in renovations
later, Sandals Montego Bay would open as the flagship of what is today the most
popular award-winning, all-inclusiveresort chain in the world.
While
Stewart never laid claim to inventing the all-inclusive concept, he is
recognized worldwide for his tireless effort to elevate the experience,
delivering to his guests an unsurpassed level of luxury, and to share his certainty
that a Caribbean company could successfully compete with any organization in the
world. He accomplished both.
“I had heard of the concept, yet at the time, the
services and rooms were very basic. Contrary to that, I envisioned we could
bring forward a luxury resort to offer customers so much more. So, we perfected
it. Only the most comfortable king size four poster beds, fine manicured
gardens, cozy hammocks and the kind of warm, refined service the Caribbean has
become known for. Just as important was to be located on the absolute best
beach, because that’s what everyone dreams of.”
Where other
so-called “all-inclusives” offered meals and rooms at a set rate, Sandals
Resorts’ prices covered gourmet dining options, premium brand drinks,
gratuities, airport transfers, taxes and all land and watersport
activities. The competitors’ meals were
buffet-style, so Stewart created on-property specialty restaurants with high
culinary standards and white-glove service.
Sandals Resorts also was the first Caribbean hotel company to offer
whirlpools and satellite television service, the first with swim-up pool bars
and the first to guarantee that every room is fitted with a king-size bed and a
hair dryer. More recent innovations have
included a signature spa concept – Red Lane® Spa, signature luxury suites
designed for privacy and ultimate pampering, complimentary WiFi, and signature partnerships
with iconic organizations such as Microsoft Xbox® Play Lounge, Sesame Workshop,
PADI, Mondavi® Wines, Greg Norman Signature Golf courses and the London-based
Guild of Professional English Butlers. And in 2017, Stewart introduced the
Caribbean’s first over-the-water
accommodations, which were quickly expanded to include Over-the-Water
bars and Over-the-Water wedding chapels.
By steadfastly adhering to the “we can do it better”
principle of pleasing his guests, Stewart fostered a company free to imagine
and free to consistently raise the bar.
This ethos earned him the title of “King of All-Inclusives,” changing
the face of the all-inclusive format and establishing Sandals Resorts as the
most successful brand in the category – boasting year-round occupancy levels of
more than 85 percent, an unequaled returning guest factor of 40 percent and
demand that has led to unprecedented expansion including the creation of
additional concepts such as Beaches Resorts, now the industry standard for
excellence in family beach vacations.
Butch Stewart loved Sandals. At the time of his passing, he was hard at
work on plans for the recently announced expansions to the Dutch island of Curaçao
and St. Vincent.
Stewart As Statesman
Stewart’s leadership
helped resurrect Jamaica’s travel industry and earned him the respect of his
peers and the admiration of his countrymen.
He was elected President of the Private Sector Organization of Jamaica
in 1989 and was inducted into its “Hall of Fame” in 1995. He served
as a Director of the Jamaica Tourist Board for a decade and as President of the
Jamaica Hotel and Tourist Association in the mid-80s, ably balancing government
and private sector priorities, reconciling the concerns of large and small
Jamaican hotels, and raising public understanding of the tourism industry. In 1994, Stewart led a group of investors to take
leadership of Air Jamaica, the Caribbean’s largest regionally based
carrier. It was a daunting task – planes
were dirty, service was indifferent and on-time schedules were rarely met,
causing market share to plummet along with revenues.
When Stewart stepped in, he insisted on a passenger-friendly
approach: on-time service, reduced waiting lines, increased training for all
personnel, and signature free champagne on flights to accompany an emphasis on
better food. He also opened new routes
in the Caribbean, brought on new Airbus jets and established a Montego Bay hub
for flights coming from and returning to the United States. Just as with ATL
and Sandals Resorts, Stewart’s formula proved successful and in late 2004,
Stewart gave the airline back to the government with an increase in revenue of
over US$250 million.
It was not the first time Stewart would come to the aid of
his country. In 1992, he galvanized the
admiration of Jamaicans with the “Butch
Stewart Initiative,” pumping US$1 million a week into the official
foreign exchange market at below prevailing rates to help halt the slide of the
Jamaican dollar. Dr Henry Lowe, at the
time president and CEO of Blue Cross, wrote to Stewart saying: “I write to
offer sincere congratulations to you for the tremendous initiative which has
done so much, not only for the strengthening of our currency, but more so, for
the new feeling of hope and positive outlook which is now being experienced by
all of us as Jamaicans.”
Less well-known may be the extent of Stewart’s considerable
philanthropy, where for more than 40 years he has helped improve and shape the
lives of Caribbean people. His work,
formalized with the creation in 2009 of The Sandals Foundation, offers support
ranging from the building of schools and paying of teachers to bringing
healthcare to the doorsteps of those who cannot afford it. This in addition to
his tireless support of a wide range of environmental initiatives. Beyond the
work of the Foundation, Stewart has given millions to charitable causes such as
celebrating the bravery of veterans and first responders and helping those in
the wake of devastating hurricanes.
In
2012, Stewart founded the Sandals Corporate University, aimed at providing professional
development for employees through reputable education and training programs.
With access to more than 230 courses and external partnerships with 13
top-ranking local and international universities, every staff member can apply,
broaden their knowledge, and advance their career.
Stewart’s successes
in business and in life have earned him more than 50 well-deserved local, regional,
and international accolades and awards including Jamaica’s highest national distinctions:
The Order of Jamaica (O.J.), and Commander of the Order of Distinction (C.D.). In 2017, Stewart was honored with the
inaugural Lifetime Achievement Award at the annual Caribbean Hotel & Resort
Investment Summit (CHRIS), hosted by the Burba Hotel Network, marking his
significant contribution to the hospitality industry. “The success of Sandals has helped to power
the growth of the tourism industry and economies not only in Jamaica but
throughout the Caribbean,” said BHN president Jim Burba. “The word ‘icon’ certainly applies to Butch
Stewart.”
It delighted Stewart
whenever he was dining anywhere in the world and an excited staff member would
share with him, “Thank you. I got my
start at Sandals.”
Father & Son
Butch Stewart,
The Man
With his easy pace,
infectious warmth and trademark striped shirt, Stewart exuded an
approachability that belied the complexity of his character. While he was an acute businessperson, who at
the time of his death was responsible for a Jamaican-based empire that includes
two dozen diverse companies collectively representing Jamaica’s largest private
sector group, the country’s biggest foreign exchange earner and its largest
non-government employer, he was an extremely private man whose deepest devotion
was to his family.
His greatest test
came in 1989 when his beloved 24-year-old son Jonathan was killed in a car
accident in Miami. Stewart recalled the
incident in a 2008 interview, “For two months after he died, I was absolutely
useless, and after that I was sort of running on remote control. Things were a
blur. It’s every parent’s nightmare.
After a year or so, I started to see things in vivid detail. You have to
get busy, be close with your family. It did a lot in terms of me getting
closer. There’s a lot more satisfaction.”
Early days of building business for Caribbean tourism
Stewart was able to return
to his relentless pace, and the consensus among those who knew him best is that
he did it by leading by example. “If you are going to lead, you have to
participate,” Stewart was fond of saying.
He believed that if everyone in the organization recognized that the man
in charge was working as hard as they were, they’d have an infinite amount of
respect and motivation. “It’s about instilling a spirit of teamwork, defining a
purpose and then rolling up your sleeves to get the job done better than
anybody else,” Stewart said.
The
company Butch Stewart built remains wholly owned by the Stewart family, who, in honor of Mr.
Stewart’s long-term succession plans, has named Adam Stewart Chairman of Sandals
Resorts International, extending his formidable leadership of the brands he has
shepherded since he was appointed CEO in 2007.
Butch (Hon Gordon Stewart) and Branson (Sir Richard Branson) travel titans
Speaking on behalf
of his family, Adam Stewart said, “our father was a singular
personality; an unstoppable force who delighted in defying the odds by
exceeding expectations and whose passion for his family was matched only by the
people and possibility of the Caribbean, for whom he was a fierce champion. Nothing, except maybe a great fishing day,
could come before family to my dad.
And while the world understood him to be a phenomenal businessman –
which he was, his first and most important devotion was always to us. We will miss him terribly forever.”
Adam Stewart named Chairman of Sandals Resorts International
Gordon “Butch”
Stewart is survived by his wife, Cheryl, children Brian, Bobby, Adam, Jaime,
Sabrina, Gordon, and Kelly; grandchildren Aston, Sloane, Camden, Penelope-Sky,
Isla, Finley, Max, Ben, Zak, Sophie, Annie and Emma; and great grandchildren
Jackson, Riley, Emmy and Willow.
A private funeral
service will be held. Those wishing to share memories, condolences or personal
stories may do so at AllThatsGood@sandals.com
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September 28, 2026 – Wall Street initially flinched at the $3-billion handshake. But in a matter of days, it was smoother sailing.
Perhaps the bigger Caribbean business story is not what Sandals Resorts International is getting from the deal. It is who is writing the cheque — and what that says about what Gordon “Butch” Stewart built.
As reports of Royal Caribbean Group’s Sandals deal circulated Tuesday, RCL shares plunged 6.14 percent from Monday’s $250.25 close to $234.89, on sharply elevated trading.
When the agreement became official Wednesday — approximately $3 billion for a 50 percent equity interest in Sandals and Beaches Resorts — shares slipped another 1.95 percent to $230.30 and touched $222.22 intraday. Investors were digesting both the size of the investment and committed debt financing secured through Morgan Stanley.
But by Thursday, RCL rebounded 3.77 percent, with shares continuing their recovery Friday to finish the week around $243. Analysts were also looking ahead: JPMorgan reportedly raised its RCL price target from $345 to $394, while Citi placed the company on a 90-day positive catalyst watch.
And just who is RCL?
Royal Caribbean Group is a global vacation giant, publicly traded on the New York Stock Exchange with a market value of roughly $65 billion. Its portfolio includes Royal Caribbean International, Celebrity Cruises and Silversea, alongside private destinations and an expanding vacation platform.
So when a company of that scale commits $3 billion for only half of Sandals and Beaches Resorts, the transaction puts a striking financial marker on one of the Caribbean’s greatest home-grown hospitality success stories.
The deal, expected to close in early 2027, creates a 50-50 partnership with the Stewart family and takes Royal Caribbean deeper into the all-inclusive resort business.
Butch Stewart started Sandals in Jamaica in 1981 believing a Caribbean company could compete with the world’s best.
Forty-five years later, one of the world’s biggest vacation companies is prepared to pay $3 billion just to own half of what he built.
Now that’s the handshake that does more than seal a deal — it cements a legacy.
Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio
Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group. Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.
The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.
The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.
“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”
The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.
Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.
BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.
PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.
The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.
Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.