Caribbean News
Belize Central Investigation Laboratory (CIL) receives Lab Equipment to strengthen Fisheries Monitoring and Testing
Bridgetown, Barbados, 17th September 2023 (IICA): A limitation to increasing trade of fish and fisheries products in Belize is the restricted capacity of the sector to conduct tests indicating that products do indeed meet international market standards. Funded by the European Union, a key activity of the 11th European Development Fund (EDF) Sanitary and Phytosanitary (SPS) Measures Project is to improve laboratory testing capacity for the
fisheries and aquaculture sector in the CARIFORUM Region. As part of this activity, technical assistance has been provided to the Belize Agricultural Health Authority’s (BAHA) Central Investigation Laboratory (CIL) through training, technical guidance, and the provision of equipment. The Inter-American Institute for Cooperation on Agriculture (IICA) is the executing body, and the Caribbean Regional Fisheries Mechanism (CRFM) is a major partner in the implementation of this SPS Action.
Speaking at the Laboratory Equipment Handing-over Ceremony on 8th September in Belize, Aniceto Rodriguez Ruiz, Head of Cooperation, Delegation of the European Union to Jamaica, Belize, and The Bahamas, said, “The Sanitary and Phytosanitary EPA programme in Belize is funded by the European Union, demonstrating its commitment to supporting trade and regional integration, to promote food safety and plant protection in the country. The programme aims to strengthen Belize’s capacity and regulations to ensure the safety of agricultural products such as livestock and food crops or fisheries products and promote safer protection both for domestic consumption and for export.”
As part of this programme, the European Union handed over a Microwave Sample Digestion System, laboratory testing kits, diagnostic tools, and inspection equipment to upgrade CIL’s fisheries monitoring and testing facilities. “These tools will enable Belize to conduct accurate and reliable testing of agricultural and fisheries products, identify potential risks, and ensure compliance with international standards and regulations. The equipment will also contribute to the prevention and control of pests and diseases, safeguarding the health of consumers and ensuring the sustainability of Belize’s agricultural and fisheries sector,” Rodriguez Ruiz said.
In 2020, the most important fishing commodities exported from Belize to the US market were valued as follows, the Spiny Lobster at US$8.4 million and the Queen Conch at US$4.7 million. Dr. Sandra Grant, Deputy Executive Director of the Caribbean Regional Fisheries Mechanism (CRFM), shared why improving market entry is important, “Increased market access on the trade of fish and fish products requires that businesses in Belize and the Caribbean
must meet the requisite standards to export, especially for the international markets. Laboratory testing services are often inadequate and pose challenges to CARICOM countries in achieving the certification of products and meeting international market standards. Therefore, the laboratory services for testing chemicals and microbial food safety parameters for fisheries products play an important role in SPS measures. This small action today will contribute to the attainment of CARICOM food and nutrition security goals, sustain trade and economic development, and improve the capacity of our laboratories across the Caribbean to conduct testing for the fisheries and aquaculture sector in the Caribbean.”
CIL will now be able to perform tests relating to environmental and residue monitoring, preparing Belize to meet testing requirements for improved hygiene and consumer safety and to fulfil high standards for exported products. Ultimately, regional and international trade of fish and fish products will be improved in the following areas: inspection, import/export certification, diagnostics, risk assessment, surveillance, and reporting. The private sector will be positively impacted at all stages of the fisheries value chain, including fishermen, fishing organisations, fish processors, exporters and exporters’ associations, and other national and regional private sector fishing associations and entities.
Dr. Natalie Gibson, Laboratory Administrator/Deputy Director of Food Safety Services at BAHA’s Central Investigation Laboratory, also delivered remarks at the Handing-over Ceremony, “Initial plans for the use of the equipment are focused on testing for such substances as mercury, lead and cadmium in fish and fishery products – these metals can harm the health of consumers when they contaminate food or water at levels that are not safe. The equipment also has many broader applications and can be used in the preparation of various sample types for elemental analysis.”
Photo Captions:
Header: From left to right at the Equipment Handing-over Ceremony: Dr. Natalie Gibson, Laboratory Administrator/Deputy Director, Food Safety Services, BAHA Central Investigation Laboratory (CIL); Aniceto Rodriguez Ruiz, Head of Cooperation, Delegation of the European Union to Jamaica, Belize, and The Bahamas; and Willie Chan, Technical Coordinator, IICA Delegation in Belize.
insert: From left to right, examining the Microwave Sample Digestion System: Xavier Canton-Lamousse, Team Lead, Delegation of the European Union to Jamaica, Belize, and The Bahamas; Aniceto Rodriguez Ruiz, Head of Cooperation, Delegation of the European Union to Jamaica, Belize and The Bahamas; and Colette EuseyCuellar, Analytical Chemist, Central Investigation Laboratory (CIL).
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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