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.

Twice-Weekly Nonstop Flights Begin December 20 with Fares from $347 One Way, Creating Direct Access to Salterra Resort & Spa

– New Route Expands BermudAir’s Winter Turks & Caicos Network –

[New York, NY – August 20, 2026] – BermudAir, the leading premium leisure carrier to Bermuda and the Caribbean, today announced it will introduce nonstop flights to South Caicos from Newark this winter.  The route places one of the Caribbean’s most secluded island destinations just 3.5 hours from the New York area for the first time.

The new service starts on December 20, 2026, operating on Sundays and Thursdays, and will be the only nonstop service to the destination from the New York area.  This seasonal service will operate through April 25, 2027.  Fares start at $347 one way ($773 roundtrip) and go on sale today.

The new South Caicos route creates gives travelers two distinct luxury resort options, with direct access to Salterra, A Luxury Collection Resort & Spa, recently named the No. 1 resort in Turks and Caicos by Condé Nast Traveler.

Set across 85 beachfront acres with a 3,000-foot private white-sand beach, Salterra brings a full luxury resort experience to an island still defined by its historic salinas, pristine waters, bonefishing flats and uninhabited cays. Upon landing at South Caicos International Airport (XSC), guests are approximately 10 minutes from the resort.

While flights go on sale today, the airline’s BermudAir Holidays vacation-packaging division will offer curated travel to South Caicos from next month, featuring flights, hotels and authentic island experiences, with bundled discounts and value-added perks, making it even easier to explore the destination.

Previously BermudAir announced seven new routes to Providenciales in Turks and Caicos, from Newark (EWR), Boston (BOS), Baltimore-Washington (BWI), Raleigh-Durham (RDU), Fort Lauderdale (FLL), St Petersburg/Tampa (PIE) and Toronto (YYZ) which will all start in December except for Fort Lauderdale which begins October 26.

Expanded Winter Season

• To South Caicos:
• Twice-weekly nonstop from Newark (Sundays and Thursdays) from December 20 through April 25, 2027.
• To Turks and Caicos:
• Weekly nonstop from Newark (Saturdays) and one weekly direct service (Thursdays) from December 19 through April 29, 2027;
• Weekly nonstop service from Boston (Saturdays), from December 19 through May 1, 2027;
• Weekly nonstop service from Baltimore-Washington (Thursdays), from December 24 through April 29, 2027;
• Twice-weekly nonstop service from Raleigh-Durham (Thursdays and Sundays), from December 20 through May 2, 2027;
• Thrice-weekly service from Fort Lauderdale (Mondays, Wednesdays and Fridays), from October 26 through May 3, 2027;
• Twice-weekly nonstop service from St Petersburg/Tampa (Mondays and Thursdays), from December 21 through May 3, 2027; and
• Weekly nonstop service from Toronto (Saturdays), from December 19 through May 1, 2027.

“We’re thrilled to continue expanding our Caribbean network as the premium leisure carrier from North America,” said Adam Scott, Founder and CEO of BermudAir. “Now New Yorkers can fly nonstop to two distinct sides of the Turks and Caicos Islands — Providenciales and the secluded island of South Caicos, home to the exquisite Salterra and Sailrock South Caicos resorts.”

The airline consistently earns Net Promoter Scores of 70+, one of the highest ratings in the airline industry.  All flights will be operated on comfortable Embraer E190 aircraft, offering passengers the airline’s signature warm service and authentic island hospitality.

“South Caicos has always felt worlds away, and that is part of its magic,” said Michael Tibbetts, Founder and CEO of Salterra. “Beginning this winter, guests can fly nonstop from Newark in 3.5 hours, land at one of the newest international airports in the region and be at Salterra minutes later. This route makes a long weekend escape and an extended stay to one of the Caribbean’s most unspoiled islands remarkably easy, without changing the sense of discovery that makes South Caicos so special.”

For more information or to book flights, visit www.flybermudair.com. Salterra will offer dedicated stay packages timed to BermudAir’s Thursday and Sunday nonstop service. To book a stay at Salterra, A Luxury Collection Resort & Spa, visit www.salterra.com

PROVIDENCIALES, TURKS AND CAICOS ISLANDS – (December 17th, 2025) – As the Turks and Caicos Islands welcomes visitors for the 2025/2026 winter season, forward bookings for the peak travel period from December to March are projected to surpass those of the same period last year. Experience Turks and Caicos is also forecasting steady month-on-month growth throughout the first half of 2026, with forward bookings already tracking ahead of 2025 levels.

“This is welcome news for our tourism sector, which experienced modest declines over the last two quarters,” said Mr. Paul Pennicook, Interim CEO Consultant of Experience Turks and Caicos. “One of the key drivers of this positive outlook is increased airlift, including a 19 percent increase in capacity from Canada for the winter season and a six percent increase from the United States.”                                                                                                                                                                                  Mr. Pennicook also attributed the improved projections to targeted marketing and trade engagement efforts led by Experience Turks and Caicos, particularly ongoing training and education for travel advisors and tour operator call-centre agents across all key source markets.

“We have maintained a strong presence through product launches and travel trade events such as Delta Vacations University, while significantly increasing the destination’s visibility through co-op advertising with major tour operators in our three primary markets,” he added.

Public relations activity has also played a critical role, with several hosted media visits from journalists in the United States, Canada, the United Kingdom, and Latin America, alongside proactive pitching efforts that resulted in more than 100 placements in travel trade and consumer publications in 2025.

Analysis of current booking patterns also indicates a notable shift toward shorter booking windows. “One major U.S. tour operator reports that over the past several weeks, approximately 90 percent of bookings have been for travel within the next 60 days,” Mr. Pennicook noted. “Hoteliers are reporting similar trends, suggesting the potential for further growth as we move into 2026.”

Despite the positive outlook, October and November recorded declines in stayover arrivals. Preliminary data shows 30,508 air arrivals in October, representing a seven percent decrease compared to October 2024, largely due to reduced airlift from the United States, Canada, and the United Kingdom as well as the impact of Hurricane Melissa on travel to the region. November recorded 52,547 stayover arrivals by air, a marginal one percent decrease year-on-year.

As the Turks and Caicos Islands welcomes visitors back to its shores this winter season, Experience Turks and Caicos would like to reassure that the island remains safe and welcoming. Statistics from the Royal Turks and Caicos Police Force show that overall crime is down, with a 40 percent reduction in murders. Experience Turks and Caicos is working closely with the police force to ensure tourism areas are well monitored and patrolled to enhance visitor security.