Royal Caribbean Nears $3 Billion Deal to Take 50% Equity Stake in Sandals
Royal Caribbean has been trying to diversify beyond cruises and become a leader overall in vacations.
TL;DR
- Royal Caribbean is close to a $3 billion deal for a 50% equity stake in Sandals.
- The deal values Sandals at $6 billion and is expected to drive growth for both companies.
- Royal Caribbean aims to diversify beyond cruises and become a leader in overall vacations.
- Sandals and its Beaches brand have over a dozen properties in the Caribbean.
- Royal Caribbean shares fell approximately 6% on reports of the potential deal.
- The cruise company's stock has declined over the past year due to softer demand for European sailings.