Caribbean News
Sandals Corporate University Signs MOU with prestigious Toronto Metropolitan University
The Sandals Corporate University (SCU) has taken a bold and inspiring step in the development of its team members by collaborating with yet another prestigious international institution, Toronto Metropolitan University (TMU).
On Friday, March 7, SCU signed a five-year Memorandum of Understanding (MOU) with the Canada-based university at Sandals Montego Bay. This MOU aims to enhance academic and workforce development in hospitality, tourism, business and management fields through TMU’s Ted Rogers School of Management.
As part of this collaboration, both institutions will facilitate internships and placements at Sandals and Beaches Resorts while developing specialised executive training programmes to further strengthen the skills and expertise of team members.
Senior Corporate Director of the SCU, Dr. Luz Longsworth, highlighted that the MOU is already bearing fruit, with new projects in development.
“These initiatives will include an exciting suite of courses on cutting-edge topics for our leaders and team members in areas such as digital innovation, strategic communication, mindfulness in leadership and big data in strategic decision-making,” Dr. Longsworth stated.
These initiatives are set to launch later this year. Meanwhile, Provost and Vice President of Toronto Metropolitan University, Dr. Roberta Iannacito-Provenzano, said she had the opportunity to witness Sandals’ operations firsthand over the past few days, including the resort brand’s annual Prestige Awards, which honour outstanding team members.
“It was clear the importance Sandals places on community and well-being. I can see that reflected in your team, and you should be really proud,” Iannacito-Provenzano expressed to Sandals Resorts’ Executive Chairman, Adam Stewart. “What I saw is that people truly care for each other. We are proud to collaborate with institutions like Sandals that embody these values.”
This marks the third such MOU for SCU, following similar engagements with the UWI Global Campus and the Turks and Caicos Islands Community College. Notable collaborations also include ongoing initiatives with Florida International University and Les Roches School of Global Hospitality.
Delivering the keynote address at the signing, Stewart underscored SCU’s commitment to aligning with internationally recognised universities to enhance hospitality training and create learning pathways for team members.
He expressed pride in the impact of the Sandals Corporate University on its team members not just in Jamaica, but across the Caribbean. “This is the Caribbean Dream. This company has demonstrated that what originates from the Caribbean can stand proudly on the world stage—provided we give our people the opportunity,” Stewart stated. “Being able to create connections like this with TMU is truly impactful. On behalf of our 18,000-plus team members and the students who will benefit from exchange programmes, I say thank you for the confidence and the opportunity to collaborate with Toronto Metropolitan University.”
Captions:
Header – From left: Dean of Ted Rogers School of Management Dr. Cynthia Holmes, Provost and Vice President of the Toronto Metropolitan University (TMU) Dr. Roberto Ianncito-Provenzano, Executive Chairman of Sandals Resorts Adam Stewart, Senior Corporate Director of the Sandals Corporate University (SCU) Dr Luz Longsworth, and Dr. Donette Chin-Loy Chang after signing a memorandum of understanding between SCU and TMU recently.
1st insert – Provost and Vice President of the Toronto Metropolitan University (TMU) Dr. Roberto Ianncito-Provenzano, Executive Chairman of Sandals Resorts Adam Stewart, and Senior Corporate Director of the Sandals Corporate University (SCU) Dr Luz Longsworth sign a memorandum of understanding between SCU and TMU.
2nd insert – General Manager of Sandals Montego Bay, Christopher Elliott, an alumnus of Toronto Metropolitan University (TMU), receives a piece of memorabilia from the university, presented by Provost and Vice President Dr. Roberto Iannicito-Provenzano (left). Looking on is Dr. Cynthia Holmes, Dean of TMU’s Ted Rogers School of Management (right).
3rd insert – Executive Chairman of Sandals Resorts Adam Stewart (third from left) is captured in the audience at the signing of the MOU between the Sandals Corporate University and Toronto Metropolitan University.
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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