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CARTWRIGHT ROBINSON RESIGNS AS PDM PARTY LEADER, EXPRESSES GRATITUDE

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#TurksandCaicos, February 25, 2021 – My people of the Turks and Caicos Islands, You the people of this great country have spoken and there is no defeat when the people have won through their vote. You have said in no uncertain terms that you wanted a new direction and I will always defend your democratic right.

My Party has made an Official Statement today and it was important that it did so first before I offer my final thoughts with the nod of the new Party’s Leader.

As reported on Saturday, as former Premier, I did phone the newly elected Premier and wished him the very best. I say to us all that if we truly love TCI, we should not wish ill. I said it as Premier and I will continue to say that to wish ill on a government as a citizen can be likened to you wishing a plane crash while you are on board.

I sincerely hope that the new government will be able to deliver for the people of the Turks and Caicos because at the time of challenge and amidst this raging pandemic, they deserve strong and decisive leadership.

The people’s success depends almost entirely on their Government’s success in office.

I will urge the new government to continue to look out especially for the most marginal among us, and for those who have been beaten down by this pandemic.

Our Party’s mission of lifting people up, must now be co-opted by this new government – for if it is and if it does it will be in the interest of all the people we came into politics to fight for.

I will personally back the government in following through on its promise to give each voter $2,000 for 3 months and to giving Civil Servants a portion of their salaries for a stimulus, in addition to the policies we had ready set in motion to ensure that people do not fall through the cracks which includes the completion of the current stimulus of $600 for TC Islanders only and for the payment of the $200 household grocery assistance in place of the package of groceries determined logistically to be difficult and then delayed because of elections.

I have been transparent on reporting on the country’s finances and invite the Minister of Finance to continue to do the same. Whilst anyone can find the November’s Report on Government Finances available on the Government’s Website, one will soon be able to see the latest Monthly Report (December) and 3rd Quarter Report that was presented at the last Cabinet last Monday which showed our continued use of savings to cover Government’s commitments and the stimulus offered, the restricted cash (money that can not be touched) at the end of November which includes an amount for the 90 day cash requirement under the UK Framework Agreement, the balances in the National Forfeiture Fund and TCI National Wealth Fund accounts and contracts already awarded. It will also show a high operating deficit, low and depleting reserves, poor performing revenue streams, high expenditure and debt of about $1.1m. The loan for $80m secured is left for drawing down and as reported publicly, it was decided best to leave larger borrowing to a Government with a fresh mandate. The matter of Budget preparation is urgent and it is for the Government of the day to set its priorities.

However, the need to invest in new sectors of the economy is as urgent today as it was yesterday.

And our tasks as citizens are to ensure that they follow up on that.

While in the coming days and weeks, there will be an ongoing post mortem on our term as government, I want it be known that throughout these four years – and against many odds – we have kept the faith and uphold the honor of governance.

We achieved many things against many odds.

But inspite of that, the people have resoundingly decided that they wanted a different tone, and a different direction; and as believers in democracy, we have to respect that for it was the people’s choice that gave us an opportunity four years ago.

In every endeavor, you would always wish you could have done more; and you always wished the many things you did, you could have done even better, but never for one day did we short-change the people or misled them and for this I am proudest.

For all the things we did and did not do – one thing was consistent. We kept the trust.

As the Premier and the leader of the PDM, I took responsibility for the many successes and I too must take full responsibility for the losses.

Though many thousands are disappointed around the country, we will do well to remember the best of times.
This is not the moment to turn on each other; it is not a time for recriminations.

While it is human to always wonder what might have been, we can forever cherish what has been — the many people who were touched by our policies and the many projects we embarked on, with the Vision of 2040 – a blueprint we have left for this new government to pick up on.

Four years ago, you elevated me to one of the most powerful positions in this land; and we made history together.

I will be forever grateful for the support you have given me, and the opportunity I had to serve.

I want to thank publicly all the PDM candidates who sacrificed so much to put themselves up in this election – and I want to especially thank their families as well who have had to loan their loved ones to the wider community.

Let me also express on a personal level, gratitude to my family especially my husband and my two daughters, who were always the lights in my life at the darkest moments. They have consistently been, without complaint, my refuge and my strength. When the political storms came in, I was battered down by their love.

The great British Prime Minister Margaret Thatcher once said: Being prime minister is a lonely job… you cannot lead from the crowd. I have lived that, and come to know that. But having known what I know now, still would not change my experience and my opportunity for anything.

And whilst our Party has lost its bid to lead, it does not take away from the fact that the PDM remains a Great Institution which has shown throughout history – and repeatedly so – that it is the most consistent force at the vanguard of national development.

I must thank the North and South Backsalina communities who stood with our Great Party through a similar defeat years ago and who have again done the same. You are champions and I appreciate you!

Our Party is an Institution and it will take a new generation to carry it forward to its full potential. The immediate task at hand will be with Hon Edwin Astwood, who has become the Opposition Leader. But there is also a whole new generation willing and able to take on the mantle, and to usher in a new era.

On Saturday, I officially handed in my resignation as leader of the PDM, and clear the way for the rank and file to decide on a new leader; a position that I have held since December 2012. This is the right and proper thing to do. And I have now had an opportunity to discuss it with Party Executives. During this time, I served as Leader of the Opposition and as Premier. My exit from active politics marks nearly 12 years of service following on from the Consultative Forum. There are a new breed of leaders waiting and many have already entered and I encourage them to stay committed; do not disappear. TCI needs you!

While I will take a long overdue break to recharge, I will always be here for this great party that I had the honor to lead. I wish to thank my Party and my PDM family for the opportunity and for all the support over the years. When first elected as Leader in December 2012, I was not present at the Meeting and to this date, I have enjoyed a level of confidence that kept me focused even among the criticisms and personal attacks.

While these difficult results will put this movement on pause, it cannot be stopped – for it is a movement that is bigger than any one of us; one that continues to enjoy a good legacy. I leave this Office with my head held high as did my former Leaders and after making significant progressive steps towards a brighter tomorrow.

The dream of lifting our people up – shall never become irrelevant or grow old.

The dream lives on! It shall never die!

Thank you again to the members of the Civil Service and members of Cabinet who assisted in delivering on our mandate to uplift and deliver transformational changes.

I say to my supporters and those who voted for the PDM Party, be encouraged; this is not your defeat. This on the other hand though is a victory for those that voted in majority for a new direction. Do not be upset by persons who used their power, for it was that same power that allowed my Team and I to achieve all we did.

It may have been a turbulent 4 yrs but it was a blessed and productive time for TCI and I thank God for all He brought us through together. I maintain that we must be a grateful people; grateful to God and not ungrateful for He is indeed good to TCI.

I have served 12 continuous years at the forefront in the political arena serving  through the Consultative Forum  to Leader of the Opposition to Premier.  I have a record of doing what others have never dared to or done. I will as before I enter politics, continue my life of service. I remain humbled for the opportunity to serve and know that these last four years when recorded will stand out in the Halls of History as a time of great challenge but also a time of great achievement.

It has been an honor Turks and Caicos.

May God bless you and may He continue to bless these beautiful by Nature Turks and Caicos Islands.

Peace And Love To All!

May God bless you!

Caribbean News

The $3 Billion Handshake

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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.

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Caribbean News

Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences

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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.

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Caribbean News

Royal Caribbean Signs US$3-Billion Deal for Half of Sandals and Beaches

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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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