Caribbean News
Jamaica’s CARICOM Chairmanship to focus on People, Partnerships & Prosperity
Kingston, Jamaica – Jamaica will be leading dialogue and action under the theme ‘People, Partnerships, Prosperity: Promoting a Secure and Sustainable Future’, when the country assumes chairmanship of the Caribbean Community (CARICOM) on July 1, 2025.
This was revealed by Minister of Foreign Affairs and Foreign Trade, Senator the Hon. Kamina Johnson Smith, during a briefing with the diplomatic corps at the Ministry’s offices in downtown Kingston on Tuesday (June 3).
Prime Minister, Dr. the Most Hon. Andrew Holness, will assume the CARICOM chairmanship from Prime Minister of Barbados, Hon. Mia Mottley. Dr. Holness will serve for a six-month period up to December 31, 2025, when he will hand over the reins to the Prime Minister of St. Kitts-Nevis, Hon. Terrance Drew.
During his chairmanship, Dr. Holness will host the 49th Regular Meeting of the Conference of Heads of Government of CARICOM, which will bring together CARICOM member states, associate member states, representatives from regional bodies and specially invited guests.
Senator Johnson Smith outlined that the meeting will be held at the Montego Bay Convention Centre in St. James, from July 6 to 8. She also unveiled the official logo of the conference, which features Jamaica’s national bird – the hummingbird, the colours of the Jamaican flag and the signature blue of CARICOM.
The Foreign Affairs Minister noted that the theme of Jamaica’s chairmanship, which will take centre stage at the 49th conference, “was
chosen to ensure that we are able to address the challenges and opportunities of our time within the four pillars of our community – economic integration, human and social development, foreign policy coordination, and security”.
Senator Johnson Smith outlined, further, that Jamaica intends to place emphasis on how the community can deepen its collaboration within the context of a dynamic global environment to advance shared developmental goals.
“One particular area of focus for us will be security as we seek to increase focus on transnational organised crime, especially gangs, and how we enhance collaborative measures to tackle this widespread issue,” she stated.
“While the plans form part of a long-term strategy, we anticipate that any immediate progress in this area will also contribute to the ongoing efforts to restore peace and stability in Haiti, and address their issues of heightened gang activity, which has exacerbated their multidimensional crisis,” she added.
The Foreign Affairs Minister shared that Jamaica will be holding a security technology expo alongside the 49th regular meeting.
“We are taking the opportunity to showcase the significant strides made by Jamaica in crime fighting, thanks in large part to partnerships and to the strategic use of technology,” Senator Johnson Smith said.
She explained that the security expo will be open to delegates and their technical teams, allowing for the sharing of tools and best practices.
Mrs. Johnson Smith also highlighted that the conference will be preceded by the 18th CARICOM road race, which will be held on July 5 in observance of CARICOM Day.
“Teams from across the region will be participating in this 10K or 5K run and walk, which is linked to the region’s continued promotion of healthy lifestyles among our population to tackle non-communicable diseases and promote health and wellness,” the Senator informed.
The road race will be followed by the opening ceremony and welcome reception for the 49th regular meeting, hosted by Prime Minister Holness, on July 6.
“On the 7th and 8th of July, our main business sessions will take place, and we will, in that context, deliberate on the important priorities of the region,” the Minister said.
Matters to be discussed in the closed sessions include the implementation of the CARICOM Single Market and Economy (CSME), climate change and climate financing, food and nutrition security, regional security issues including the situation in Haiti and regional approaches to transportation, education, digitalisation, telecommunications, population issues and education transformation.
The key outcomes of the 49th Regular Meeting will be presented in a press conference at the end of the closed sessions.
CONTACT: DONIQUE WESTON
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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