On September 23, 2026, Royal Caribbean Cruises Ltd. (the "Company") announced that it entered into definitive agreements to acquire a 50% equity interest in the business comprising the Sandals and Beaches Resorts for a base purchase price of approximately $3.0 billion in cash. The Company 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.