Sandals Resorts is a Jamaican operator of all-inclusive resorts in the Caribbean. Developed by Gordon “Butch” Stewart in 1981, the family operation was handed down to Stewart’s son, Adam, when Butch passed away in 2021. Although infighting continues to this day regarding Butch’s estate, Adam has since expanded the company to include 17 adults-only “Sandals” resorts and a few “Beaches” resorts, the latter of which are family-friendly.
The Wall Street Journal reported last week that Sandals Resorts International is considering selling itself for roughly $6 to $7 billion. Although the company might decide not to sell (as they did several years back, when they considered selling and worked with Deutsche Bank – they ultimately decided against a buyout at that time), they are, at the moment, working with bankers to explore their options.
The timing could potentially be fortuitous for the hotel industry, since hotel giants have been purchasing and partnering all-inclusive resort brands in recent years.
- IHG reached a long-term commercial agreement with Iberostar Hotels & Resorts in 2022
- All-Inclusive by Marriott Bonvoy announced the signing of three all-inclusive luxury resorts in Mexico with international developer AB Living Group in 2022.
- Hilton announced that it had signed an agreement for the Zemi Miches All-Inclusive Resort, Curio Collection in 2023.
- Just a few months ago, Hyatt and Grupo Piñero finalized their strategic joint venture in late December, adding the Bahia Principe Hotels & Resorts Brand to Hyatt’s existing All-Inclusive portfolio.
If one of them decided to buy Sandals Resorts International, it would gain that lucky company multiple ready-made all-include resorts including:
Jamaica
- Sandals Dunn’s River in Ocho Rios
- Sandals Montego Bay in Montego Bay
- Sandals Negril and Beaches Negril in Negril
- Sandals Ochi and Beaches Ocho Rios in Ocho Rios
- Sandals Royal Caribbean in Montego Bay
- Sandals Royal Plantation in Ocho Rios
- Sandals South Coast in White House
Saint Lucia
- Sandals Grande St. Lucian in Gros Islet
- Sandals Halcyon Beach in Castries
- Sandals Regency La Toc in Castries
Bahamas
- Sandals Royal Bahamian in Nassau
Barbados
- Sandals Barbados in Saint Lawrence Gap
- Sandals Royal Barbados in Saint Lawrence Gap
Antigua
- Sandals Grande Antigua in St. John’s
Curaçao
- Sandals Royal Curaçao in Santa Barbara
Grenada
- Sandals Grenada in St. George’s
Saint Vincent
- Sandals Saint Vincent and the Grenadines in Buccament near Kingstown
Turks & Caicos
- Beaches Turks & Caicos (scheduled to open March 2026)
Sandals hasn’t confirmed if they’re definitely going to sell yet. If they do, WSJ says it would be the biggest real estate transaction of 2025. We’ll keep our eyes on it.
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3 comments
Hyatt has certainly been on a frantic buying spree for all-inclusives recently but I’m a little dubious as – for better or for worse – Hyatt has been largely going asset light, meaning that they don’t want to actually own the hotels, just make their money on marketing and on rare occasions managing the property. What would they do with billions of dollars worth of hotels when they generally don’t want to own those hotels? The other big chains are similar. It’ll be interesting to watch in any case so thanks for bringing this up.
I give it a big “meh.” Not interested. No thanks.
Having stayed at most of the Sandals/Beaches properties, about the only thing currently going for the chain is its brand recognition due to their extremely heavy marketing and TA incentives. The resorts themselves have seen much better days and would require a major infusion of capital to bring the brand up to date.
My guess is that Sandals is once again playing this game to increases it’s valuation, as they need financing to renovate.