Caribbean News
Sandals Resorts Announces 40 for 40 Initiative’ Projects
~Created with the Sandals Foundation to Celebrate Sandals’ 40th Anniversary, Selected Projects Uplift Communities, Offer Voluntourism Opportunities for Guests~
#Jamaica, March 22, 2022 – In partnership with its philanthropic arm, the not-for-profit Sandals Foundation, Sandals Resorts International (SRI) announces the full list of projects under its 40 for 40 Initiative. Launched as part of Sandals Resorts’ 40th anniversary celebrations, 40 projects were identified across eight Caribbean destinations where SRI operates that best showcase the incredible link between tourism and its power to transform communities and improve local lives.
The 40 for 40 Initiative projects were selected across six areas: preserving natural resources through Conservation Efforts and Tours; Investing in Food Security by supporting and working with local farmers; Hospitality Training and Certification aimed at ensuring ongoing excellence; maintenance of cultural heritage through Support of Local Artisans and Music Education & Entertainment; and bolstering local economies through Small Business and Community Market Support.
Across the Caribbean, SRI team members from Sandals Resorts, Beaches® Resorts and the Sandals Foundation will
be rolling up their sleeves to help bring these projects to life. Visiting guests can also support and participate in many of the activities taking place throughout the region.
“Tourism has the power to transform, not only the lives of the guests who immerse themselves in the charm and culture of the Caribbean while on vacation, but for our team members and neighbors who build their families’ roots in the region,” said Adam Stewart, Executive Chairman, Sandals Resorts International and President and Founder of the Sandals Foundation. “This is the important work we build on and celebrate today, as part of our relentless efforts to strengthen the transformative link between tourism and the empowerment of our local Caribbean communities.”
Conservation Efforts and Tours
Through the Sandals Foundation, SRI has made the environment a priority, investing millions in education and advocacy programs, establishing marine sanctuaries, out-planting more than 12,000 corals, and engaging over 55,000 people in conservation efforts. Now, the team will advance its efforts to protect the region’s natural resources by expanding opportunities for marine conservation.
In honor of its late Founder, Chairman and philanthropic stalwart, Gordon “Butch” Stewart, the team has partnered with the Professional Association of Diving Instructors (PADI) to implement its ‘Sea the Legacy of Love’ Scholarship Program. The program will provide 40 Caribbean nationals across six islands with dive certifications from open water to master level. This, together with opportunities for guests to take part in activities such as coral out-planting in Jamaica and St. Lucia, will have a lasting impact on life below the surface.
Additional projects include supporting the Andromeda Gardens, a 6.5-acre botanical garden in Barbados created in the 1950s, and providing funding to assist in the recovery of sand dunes in Lucayan National Park in The Bahamas that were heavily impacted by invasive plants and storm surges.
Investing in Food Security
Together with the Sandals Foundation, SRI, which already sources over 90% of its food supply locally, is ramping up its investment in agriculture and the institutions training the next generation of producers. Various contributions will include equipment donation at the Agriculture Training College in Barbados, construction of hydroponics at Antigua’s Gilbert Agricultural and Rural Development Centre, and establishing community composting practices on-resort. The Foundation will also support the Grenada Network of Rural Women Producers (GRENROP), a group of 65 local women and at-risk youth charting their financial independence through agriculture.
Small Business and Community Market Support
The Sandals Foundation is continuing to invest in local businesses like the Oistins Fish Fry in Barbados, where locals and visitors alike can meet with vendors and enjoy freshly prepared seafood. Guests at Sandals have the opportunity to embark on paid tours that directly support these vendors and their livelihoods.
With establishments such as these accounting for on average 30 percent of its island’s global development product (GDP), the Sandals Foundation is committed to improving the welfare of operators as well as their earning potential by upgrading additional locales such as Cultural Market Place in Turks & Caicos and Pineapple Craft Market in Jamaica. The Sandals Foundation’s community projects are highlighted on resort, inviting guests to support through donations.
Supporting Local Artisans
For years, guests of Sandals and Beaches Resorts have had access to locally made items at its retail shops, proceeds of which are reinvested into local community groups. The Sandals Foundation will expand its hugely successful Caribbean Artisan Program by training more crafts people across more islands including Curaçao, St. Lucia,
Bahamas and Turks & Caicos, providing more travelers the opportunity to take home a piece of the region. Sandals and Beaches Resorts guests can also look forward to meeting these craft men and women through pop-up shops on resort and seeing the magic unfold.
Music Education and Entertainment
From ska and calypso to Jamaica’s iconic reggae and dancehall, the unmistakable soundtrack of the Caribbean keeps visitors coming back and locals moving forward. Together with international partners, high school and college music educators will be trained on key techniques to further develop the region’s iconic sounds. Additionally, the 40 for 40 Initiative will culminate with a musical showcase that brings the magic of Caribbean music to Miami in order to help raise funds for continued growth of the region.
Hospitality Training and Certification
To ensure the continued training of future tourism industry players, the teams at SRI and the Sandals Foundation are supporting hospitality training and certification programs to strengthen vocational skills in the areas of food & beverage, health, beauty, and wellness. In Antigua, trainees can receive a health and beauty certification to gain skills for the fast growing wellness sector. In Exuma and New Providence, the Foundation will assist with year-long programs that supports commercial food preparation.
“We are very excited about these 40 projects of transformation and our role in helping realize the impact tourism makes in the Caribbean,” said Heidi Clarke, Executive Director of the Sandals Foundation. “Tourism touches almost every corner of local communities and we are fully appreciative of its ability to make a real difference. We are extremely grateful to every guest, team member, partner, travel advisor, donor and supporter who have volunteered or supported our work to improve literacy, healthcare, youth engagement and the many areas in which we focus. Together with our SRI teammates, we will continue to use the power of tourism to bring lasting change,” said Clarke.
Celebrating its 13th anniversary on March 18th, since its inception in 2009, the Sandals Foundation has implemented projects and programs valued at nearly US $79 million, touching the lives of more than 1.1 million people.
For a complete list of 40 for 40 Initiative projects, visit: https://news.sandals.com/article/1629/.
For more information about the Sandals Foundation and to donate, visit: https://sandalsfoundation.org.
Press Release: Sandals Resorts
By Deandrea Hamilton | Editor
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.
Caribbean News
Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences
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.
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