Carib Scope

分类： business

  • BNECL appoints new chief executive officer

    BNECL appoints new chief executive officer

    Barbados National Energy Company Limited (BNECL), a key player in Barbados’ energy sector, has announced the appointment of Michael Sargeant, a highly accomplished industry veteran with nearly 40 years of global experience, as its new chief executive officer. Sargeant’s tenure will officially commence on September 15, marking a new chapter for the state-linked energy firm as it navigates a shifting global energy landscape and advances Barbados’ clean energy transition goals.

    Sargeant’s decades-long career is a rare blend of deep experience across both traditional fossil fuel and fast-growing renewable energy sectors, spanning a diverse range of international markets including the Caribbean, the United Kingdom, the United States, Canada, and across Asia. He cut his senior leadership teeth at global energy giant Shell, where he held a series of high-impact senior roles, including Vice President for the Americas, Global Operations Manager, and Global Manager for Technology Commercialization. Most recently, Sargeant served as Vice President for Renewables for the Americas at Finnish energy firm Neste, where he oversaw senior executive responsibilities for sales, marketing, commodity trading, and energy storage and distribution across the region.

    His core areas of expertise span a wide spectrum of critical energy needs: from energy market analysis and commercial strategy development to clean energy and renewable fuel innovation, strategic cross-sector partnership building, energy market infrastructure expansion, regulatory navigation and stakeholder engagement, and large-scale organizational transformation. These skills position him uniquely to lead BNECL through its current phase of growth and adaptation.

    The appointment of Sargeant comes at a pivotal juncture for BNECL, as the company works to streamline its existing operations and expand its footprint in Barbados’ rapidly evolving energy ecosystem. BNECL Chairman Donald Austin expressed strong enthusiasm for the new hire, noting that Sargeant brings an unparalleled combination of global energy expertise, sharp commercial acumen, and proven transformational leadership to the organization.

    “His cross-sector experience across both traditional and renewable energy will be invaluable as we strengthen our operations, pursue new market opportunities, and advance our core strategic priorities,” Austin said in a statement. “We are thrilled to welcome him home, and we are confident that under his leadership, BNECL will help build a secure, affordable, and sustainable energy future for Barbados.”

    For his part, Sargeant said he is honored to take on the CEO role at BNECL and is eager to collaborate with the company’s employees, board of directors, and key stakeholders to drive progress. “We operate in an exciting, increasingly complex energy environment,” Sargeant commented. “I look forward to building on the BNECL Group’s already impressive track record of accomplishments, and further solidifying its position as Barbados’ leading energy provider.

    “By operating with maximum efficiency and embracing diverse, forward-thinking energy solutions, we can improve quality of life for all Barbadians, support national economic growth, and help deliver a more secure, reliable, and affordable energy future for the country.”

    BNECL’s board of directors, senior management team, and all staff have extended a warm welcome to Sargeant as he assumes leadership and guides the company into this next phase of development.

  • Robert De Niro’s Nobu Beach Inn in Barbuda Targets Late 2026 Construction Completion

    Robert De Niro’s Nobu Beach Inn in Barbuda Targets Late 2026 Construction Completion

    Luxury hospitality brand Nobu Hospitality is advancing a high-end beach resort development on the Caribbean island of Barbuda, with construction of the Nobu Beach Inn projected to wrap up by the end of 2026. While an official guest opening date has not been confirmed to the public, the brand has opened pre-registration for customers interested in receiving project updates. This new resort is a collaborative venture between Nobu, Hollywood actor Robert De Niro, Australian investor James Packer, and seasoned hotelier Daniel Shamoon, marking a major expansion of the brand’s footprint in the region.

    The property is sited along Barbuda’s undeveloped southwest coast, spanning a sprawling 400 acres of land with two full miles of pristine beachfront access. In terms of accommodation, the resort will feature 36 guest bedrooms housed across 17 exclusive private villas, alongside 25 premium beachfront residences that are currently being offered for private sale. Starting prices for these luxury residences are set at $12 million, and buyers will gain full access to all of the resort’s shared amenities and services. Residence owners also have the option to enroll their properties in the resort’s rental program, allowing them to generate rental income when they are not using their units.

    To meet the expectations of high-end leisure travelers, the development includes a comprehensive range of recreational and hospitality facilities. Planned amenities include multiple signature Nobu restaurants, a private beach club, an ocean-facing infinity pool, a full-service spa, a dedicated fitness pavilion, a children’s activity club, and an open-air outdoor cinema. The resort will also feature hard court facilities for both tennis and padel, plus a fully equipped water sports center that will offer popular activities including sailing and water skiing.

    This new project builds on Nobu Hospitality’s existing established presence on Barbuda. The brand first opened a Nobu Barbuda restaurant and beach lounge on the island’s Princess Diana Beach back in 2020, and partner Robert De Niro has a decades-long personal connection to the area. De Niro shared that he first visited Barbuda more than 30 years ago, and from the project’s earliest planning stages, the team has prioritized designing the resort to complement, rather than overshadow, Barbuda’s unspoiled natural landscape and coastal ecosystem.

    A recent hotel industry report published earlier this week incorrectly stated that the resort would open to guests in late 2026. In response to the report, Nobu Hospitality clarified its current timeline on its official project page, confirming that only construction completion is targeted for the end of 2026, with a launch date for guest operations still to be determined.

  • IATA Calls for Transparency and Regional Coordination on Proposed Antigua andBarbuda Passenger Charge Increase

    IATA Calls for Transparency and Regional Coordination on Proposed Antigua andBarbuda Passenger Charge Increase

    The International Air Transport Association (IATA), which represents more than 370 airlines covering 85% of global air traffic, has raised urgent concerns over a planned $10 increase in passenger service charges by the government of Antigua and Barbuda, warning the change could erode the Caribbean nation’s air connectivity and competitive position in the global tourism market.

    Under the current proposal, every international passenger—including local residents—would face a $50 charge on both arrival and departure. For a round-trip journey, this adds an extra $20 to total travel costs, a significant increase that comes at a delicate moment for Antigua and Barbuda’s aviation sector. Data from the first half of 2026 already shows a 2.6% drop in passenger volumes compared to the same period in 2025, a decline that IATA argues could deepen if travel costs rise further.

    While airlines operating in the region have repeatedly stated they support sustainable funding for core aviation priorities—from safety oversight to planned infrastructure upgrades at V.C. Bird International Airport and Barbuda International Airport—industry stakeholders say they have been denied critical details about the proposal. To date, there has been no public clarification on how the size of the proposed increase was calculated, what total revenue the government expects to raise, or how the new funds will be allocated across airport development, day-to-day operations, and civil aviation safety oversight.

    The timing of the national charge hike is also particularly problematic, IATA notes, because the Organization of Eastern Caribbean States (OECS) member states are currently negotiating a region-wide harmonized funding framework for the Eastern Caribbean Civil Aviation Authority (ECCAA). The ECCAA is the regional body responsible for aviation safety oversight across most of the Eastern Caribbean, and earlier in 2026, participating OECS prime ministers agreed to develop a coordinated, cross-border framework that includes shared legislation, aligned implementation timelines, and a sustainable, collective funding model. The draft framework currently under discussion proposes a $2.50 charge on both arrival and departure for travel across participating states, far lower than the national increase proposed by Antigua and Barbuda.

    Antigua and Barbuda’s government has stated that a portion of the new revenue from its charge increase will go toward ECCAA funding, but stakeholders have yet to receive clear details on how the full proposed increase was determined or how funds will be split between national projects and regional ECCAA obligations. IATA warns that moving forward with a unilateral national charge before the regional framework is finalized and publicly debated risks undermining months of work to build a coordinated regional approach to aviation funding that works for all OECS members.

    As a leading tourism destination competing for international visitors, foreign investment, and new air services, Antigua and Barbuda’s competitiveness depends heavily on affordable travel, IATA emphasizes. Any increase to passenger travel costs must therefore undergo rigorous impact assessment to understand how it will affect destination affordability, tourist demand, long-term connectivity, and sustained economic growth from aviation.

    “It is essential that the government clearly explains the rationale for the proposed increase and how the additional revenues will be used,” said Peter Cerda, IATA’s Regional Vice President for the Americas. “Any contribution toward ECCAA funding should be advanced through the agreed regional framework, supported by transparent governance and funding mechanisms that ensure revenues collected for aviation safety oversight are dedicated to that purpose and transferred accordingly. This would also facilitate informed stakeholder consultation and maintain confidence in efforts to support aviation development and oversight across the region. Separating the regional ECCAA initiative from proposals for national passenger charge increases would allow each measure to be considered independently and assessed on its own merits.”

  • The Story Behind Belize’s Two-to-One Money Peg

    The Story Behind Belize’s Two-to-One Money Peg

    As the Belize dollar’s fixed two-to-one exchange rate against the U.S. dollar marks its 50th anniversary in 2026, this long-standing monetary anchor that has shaped the small Central American nation’s economy and national identity carries a century-long history of colonial shifts, economic crises and intentional policy choices.

    Long before Belize gained full independence, the territory existed as the British colony of British Honduras, and its monetary system faced early chaos. Prior to 1894, a patchwork of foreign currencies circulated freely across the colony, with values shifting wildly alongside global silver price fluctuations. This constant volatility created crippling uncertainty for domestic and cross-border trade, prompting colonial officials to pass the landmark Coinage Ordinance that October. The reform replaced the fragmented currency system with a unified monetary framework, tying the new British Honduras dollar directly to the U.S. gold dollar as the official standard and creating a single unit of account for all commercial activity.

    For more than half a century, the currency held a one-to-one parity with the U.S. dollar, aligned with the colony’s growing trade ties to its northern neighbor. That stability ended abruptly on December 31, 1949, when the colonial government made the decision to re-peg the currency to British sterling instead. The move devalued the British Honduras dollar by 30% against the U.S. dollar, sparking widespread public anger that fueled the rise of Belize’s nationalist movement and gave birth to the People’s Committee, the precursor to the country’s first major independence political party. Joseph Waight, a longtime Belizean financial secretary, notes that the 1949 exchange rate crisis is widely recognized as the catalyst for modern Belizean nationalism, making currency policy a near-sacrosanct issue in national politics.

    A second major shift followed the collapse of the Bretton Woods international monetary system between 1971 and 1973, when the U.S. ended the dollar’s direct convertibility to gold. The global shake-up sent most major currencies into a floating rate period, and by the end of 1975, the British Honduras dollar had depreciated to just 50 U.S. cents per unit. By this point, Belize’s trade and financial flows were overwhelmingly oriented toward the U.S. market, even as links to sterling bloc nations remained relevant. On May 11, 1976, Belizean policymakers made the deliberate decision to formalize the market rate, officially devaluing the currency by roughly 29% from 70 U.S. cents to 50 U.S. cents per Belize dollar. The historic move cemented the two-to-one peg to the U.S. dollar, cutting the decades-long tie to sterling and returning Belize’s monetary framework to the U.S.-centered standard first established in 1894, explains Emory Ford, chief economist at the Central Bank of Belize.

    For 50 years, this fixed exchange rate has remained unchanged, emerging as both a cornerstone of Belize’s financial system and a core part of national identity. Veteran Belizean banker Stephen Duncan breaks down the peg’s enduring national value: for the public, it delivers consistent stability that simplifies daily life and smooths household financial planning; as a defensive bulwark against external economic volatility, it helped Belize withstand the spillover effects of Mexico’s 1982 debt crisis when much of the region faced financial collapse; and as a check on governance, it forces national leaders to maintain disciplined fiscal and monetary balance to preserve the peg.

    The peg also delivers outsize benefits to Belize’s largest industry: tourism. The fixed two-to-one ratio eliminates exchange rate uncertainty for millions of U.S. and international visitors, simplifying trip planning and spending calculations. Combined with Belize’s reputation as a scenic, welcoming destination, that currency stability makes the country an even more attractive travel option, notes Dr. Carolyn Gentle-Genitty, a regional economic analyst. “Tourism and a large share of our national income rely on the stability this peg provides,” she explains.

    Fifty years on from that 1976 policy decision, Belize’s two-to-one currency peg has stood the test of global economic shifts, regional crises and domestic change, emerging as one of the country’s most successful and prudent long-term national economic policies.

  • Belize’s Tourism Leaders Confront Growing Industry Challenges

    Belize’s Tourism Leaders Confront Growing Industry Challenges

    On September 24, 2026, the Belize Tourism Industry Association (BTIA) celebrated its 41st anniversary by convening top tourism sector leaders and cross-sector partners for a strategic summit focused on solving the industry’s most pressing challenges. From invasive sargassum blooms and long-term sustainability to bolstering Belize’s global competitiveness, BTIA President Efren Perez has centered the conversation on deepened public-private collaboration as the core engine for sustained growth and inclusive shared prosperity across the sector.

    In his remarks at the gathering, Perez emphasized that private sector stakeholders are indispensable partners in identifying unaddressed gaps in Belize’s tourism ecosystem. “We have to look back at what we’ve accomplished, assess where we stand today, and map out the gaps that still hold our industry back – and the private sector can’t be left out of that conversation,” Perez explained. “Every major decision for the sector needs to be built around shared prosperity, so that benefits reach every corner of the industry and lift all segments, from large operators to small local businesses.”

    A central outcome of the summit’s discussions, Perez noted, is a renewed push to organize the fragmented private tourism landscape, unifying independent hotels, tour operators, travel agencies and destination management companies under a coordinated collective framework. This unified structure will position Belize’s tourism providers to compete more effectively in major regional and international marketing events, rather than operating as isolated individual entities. Rather than promoting single properties or experiences one by one, a coordinated collective can market the full breadth of Belize’s diverse tourism offerings to a global audience, expanding the nation’s reach far beyond what individual operators can achieve alone.

    This holistic industry-wide assessment, Perez added, will also help stakeholders pinpoint exactly where targeted investments are most needed – from upskilling training programs to providing small and medium operators with the digital and business tools they require to grow and compete in a fast-evolving global travel market.

    Among the urgent challenges highlighted by participating stakeholders, the accelerating influx of sargassum seaweed along Belize’s coastlines emerged as the most pressing threat to the nation’s beach and marine tourism. The summit agreed that only strengthened cross-stakeholder collaboration, dedicated sustainable funding, and coordinated national action can deliver the long-term, effective solutions needed to mitigate sargassum’s impact on the sector.

    This report is adapted from a full televised newscast transcript, with original Kriol language statements transcribed using a standardized spelling system for accessibility.

  • Hotels Want Clarity Before Taking Position on New Taxes

    Hotels Want Clarity Before Taking Position on New Taxes

    As Belize’s government weighs a planned increase to the hotel accommodation tax, key tourism sector leaders are already pushing for transparency, noting that no official written proposal has been released to date, even as early pushback against the measure builds.

    Two of the nation’s leading tourism industry bodies — the Belize Tourism Industry Association (BTIA) and the Belize Hotel Association (BHA) — have submitted a joint open letter to Prime Minister John Briceño, requesting full details of the planned tax adjustment before the groups commit to a formal public position on the policy.

    In comments shared publicly on the request, BTIA President Efren Perez explained that the joint correspondence was prompted by the fact that all discussions of the tax increase have so far been verbal, with no concrete documentation outlining the rate change, implementation timeline, or planned use of new revenue.

    “Right now, we don’t have anything tangible to review, which means we can’t properly assess the overall impact of this proposal on our members or the broader tourism economy,” Perez noted. “Before we can move forward with any formal negotiations, we need to see the full scope of what the government is proposing, so that all industry stakeholders can come to the table prepared.”

    Perez confirmed that the vast majority of tourism industry operators have already voiced clear opposition to any new tax increases, a position that sector leaders recognize and respect. However, he added that the industry remains open to constructive, collaborative dialogue with the government to address two of the most pressing threats facing Belize’s coastal tourism sector: invasive sargassum blooms and worsening coastal erosion.

    In addition to calling for transparency on the proposed tax, sector stakeholders are also urging the government to expand existing support for tourism businesses, which continue to grapple with soaring operational costs alongside growing environmental risks that threaten the long-term viability of Belize’s beach and coastal tourism offerings.

    Until the government releases a formal, written version of the accommodation tax proposal, BTIA and BHA will maintain their neutral formal position, while continuing to push for collaborative solutions to the environmental challenges that put the $1.8 billion tourism industry — Belize’s largest source of foreign exchange — at risk.

  • Three Local Businesses Secure EC$210,000 in Expansion Loans

    Three Local Businesses Secure EC$210,000 in Expansion Loans

    Three small and medium-sized local businesses in Saint Lucia have successfully secured a combined total of EC$210,000 in targeted expansion loans through the country’s National Development Foundation, a move designed to fuel local economic growth and create new job opportunities for community residents.

    The financing, which was distributed after a rigorous vetting process that evaluated business viability, growth potential and community impact, will support three distinct ventures across different sectors of the local economy. None of the recipients received more than EC$80,000 individually, with funding tailored to match each business’s specific expansion blueprints, from upgrading operational equipment to expanding service capacity and opening new physical locations.

    Officials from the National Development Foundation noted that the loan program was crafted specifically to address a persistent gap in access to affordable capital for small local entrepreneurs, who often struggle to secure flexible financing from large traditional commercial banks. Unlike standard bank loans, this program offers extended repayment terms and below-market interest rates, designed to reduce the financial burden on growing businesses and set them up for long-term success rather than quick returns.

    “Small local businesses are the backbone of our national economy, employing more than half of our country’s private sector workforce and keeping money circulating within local communities,” said a senior spokesperson for the foundation. “This round of funding is just one part of our ongoing commitment to nurturing homegrown entrepreneurship, and we have already seen strong demand from other qualifying businesses looking to expand in the coming months.”

    The three recipient businesses span the retail, hospitality and light manufacturing sectors, all of which have been working to recover and grow following recent economic disruptions. Business owners have confirmed that the financing will allow them to hire at least 15 new full-time employees combined within the next six months, a tangible boost to local employment rates.

    Local economic analysts point to this type of targeted small business financing as a key driver of inclusive economic growth. By supporting homegrown ventures rather than focusing exclusively on attracting large foreign investment, governments and development institutions can build more resilient local economies that benefit a broader cross-section of the population. The foundation has announced plans to open a new round of loan applications for local entrepreneurs later this quarter, with an additional EC$300,000 earmarked for distribution.

  • Regional shipping trade, stronger maritime regulation in focus on World Maritime Day

    Regional shipping trade, stronger maritime regulation in focus on World Maritime Day

    Two fatal boating collisions off Saint Lucia’s western coast in 2026 have pushed long-overlooked gaps in the island nation’s maritime regulation into public and policy focus, just days ahead of the annual global observance of World Maritime Day on September 24. In an interview with the St Lucia Times two days before the commemoration, Tariq Khan, chief executive officer of the still-young Saint Lucia Chamber of Shipping, outlined the organization’s urgent priorities, progress and actionable plans to strengthen the island’s maritime sector amid mounting global and local pressures.

    Founded just seven months prior, the Chamber has rapidly gained traction among industry and government stakeholders, centering three core goals from its early days: boosting port operational efficiency, advancing environmentally sustainable shipping practices, and upgrading and enforcing rigorous maritime safety regulations. Reflecting on the outsized role that shipping plays in Saint Lucia’s daily function, Khan emphasized the urgency of upgrading national port infrastructure in the coming year. “We rely on shipping heavily to import most of our food items, construction materials, medicines and so on,” he explained, noting that every improvement to maritime operations ripples directly through the island nation’s entire economy and public welfare.

    Today, global shipping networks face unprecedented strain driven by geopolitical instability, with one key flashpoint being the ongoing U.S.-Iran conflict that has left dozens of seafarers stranded in the Strait of Hormuz before the waterway was indefinitely closed. This closure has created a critical chokehold on global supplies of essential commodities, from crude oil to the fertiliser that forms the backbone of global agricultural production. For small island nations like Saint Lucia, which are almost entirely dependent on imported goods, the ripple effects of this disruption are already being felt. Earlier in September 2026, Prime Minister Philip J Pierre revealed that Saint Lucia has recorded an Eastern Caribbean dollar (EC$) 26 million revenue deficit between April and September, a shortfall driven primarily by skyrocketing global fuel prices that raise shipping and import costs across the board.

    One underdiscussed cascading risk, Khan warned, is the coming impact of global fertiliser shortages on Saint Lucia’s food security. The Chamber publishes a weekly industry insight bulletin to alert stakeholders and the public of emerging risks, and recent editions have highlighted that fertiliser shortages will soon translate to constrained domestic and regional food supplies, driving up prices for basic staple goods that rely on fertiliser for production. Unlike large economies, small island developing states have little buffer to absorb these supply shocks, making proactive intervention critical.

    To address this specific challenge, the Chamber is already developing targeted, homegrown solutions that reduce Saint Lucia’s dependence on imported fertiliser. The organization has allocated time and resources to support the expansion of local and regional organic fertiliser production capacity, including exploring large-scale use of sargassum, a locally abundant marine resource that has already been successfully commercialized by Saint Lucian producer Algas Organics. “If we can scale this production, we don’t have to rely too heavily on imported fertiliser, and in that we are able to make food supplies a bit more sustainable for us within the sector, within our region,” Khan explained.

    Beyond securing fertiliser supplies, the Chamber is working to cut overall import costs for all goods by rethinking traditional trade routes and expanding regional and alternative global trade partnerships. For decades, most of Saint Lucia’s imports have been sourced from the United States, the United Kingdom and distant European markets, but shifting geopolitical and energy trends have made these long-haul routes increasingly expensive and unpredictable. To offset this, the organization is advancing plans for a regional Caribbean shipping network that would allow for more efficient movement of goods between Caribbean nations, cutting down on long-haul shipping costs. Khan confirmed that the Chamber has already secured commitments from two groups of private investors to back the initiative, meaning the project will move forward without adding financial burden to Saint Lucia’s national treasury or government. Brokers are currently assessing potential large-capacity cargo vessels to serve the regional trade route.

    The organization is also exploring expanded direct trade with the African continent as a more cost-effective alternative to traditional suppliers. “We will see trade routes becoming more and more difficult to traverse and these challenges will have huge increases in costs for shipping,” Khan noted. “With the African continent, we have one straight shot across the Atlantic Ocean so we can see if our importers, our traders, our manufacturers can start accessing goods from that continent so that it becomes a bit more accessible and cheaper than what we’re experiencing right now.”

    A further core priority for the Chamber is building a skilled local workforce for the growing maritime sector, investing in training programs, skills development, resource allocation and industry expertise to prepare more Saint Lucians for careers in the growing field.

    Most notably, following a string of high-profile fatal maritime disasters across the Caribbean and along Saint Lucia’s own coast, the Chamber is pushing for urgent updates to national maritime regulations and enforcement mechanisms. Recent tragedies include the sinking of the MV Barima near Guyana that killed at least 72 people, and the two deadly collisions near Soufrière, Saint Lucia that claimed five lives earlier this year. “Those incidents …and all those things should not be happening. Overloading of vessels should not be happening. There would be regulations and enforcement to prevent those things from happening,” Khan said. The Chamber, working in partnership with Invest Saint Lucia, has already drafted a policy memo outlining proposed regulatory reforms that has been submitted to Minister of Investment Ernest Hilaire, who is set to present the plan to the Saint Lucian cabinet for approval.

    This year’s World Maritime Day theme, “From Policy to Practice: Powering Maritime Excellence,” aligns directly with the Chamber’s work, highlighting the global imperative of translating international maritime safety and sustainability rules into actionable, enforced local policy. For Saint Lucia, that translation could not come soon enough, as the young organization works to address immediate supply chain risks and build a more resilient, safe and prosperous maritime sector for the island’s future.

  • Royal Caribbean Confirms Plan to Buy Half of Sandals and Beaches Resorts for US$3 Billion

    Royal Caribbean Confirms Plan to Buy Half of Sandals and Beaches Resorts for US$3 Billion

    Two of the travel industry’s most iconic vacation brands are joining forces in a transformative deal set to reshape Caribbean leisure offerings, as Royal Caribbean Group announced a landmark partnership to acquire a 50 percent equity stake in Sandals and Beaches Resorts for approximately $3 billion. The alliance combines Sandals and Beaches’ decades of expertise in all-inclusive Caribbean resort hospitality with Royal Caribbean Group’s robust, diversified vacation platform, creating an unmatched collection of cruise, private destination and land-based resort experiences for global travelers.

    Royal Caribbean Group’s existing portfolio spans three industry-leading cruise brands – Royal Caribbean, Celebrity Cruises and Silversea – alongside a growing network of exclusive private destinations, an upcoming entry into river cruising launching in 2027, and one of the travel sector’s most innovative customer loyalty programs. Both brands share deep, longstanding roots in the Caribbean and a shared commitment to supporting local communities across the region, aligning their missions to deliver memorable vacation experiences while growing their undisputed leadership in Caribbean travel.

    “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 Chief Executive Officer of Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful long-term relationships 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 built powerful, 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.”

    Adam Stewart, Executive Chairman of Sandals Resorts, emphasized the shared vision for growth that underpins the agreement, noting that the partnership will deliver benefits for the brand’s team members, travel advisor partners, and the Caribbean communities that have long hosted its resorts. “The future has never been brighter, and I know this moment would make my father incredibly proud,” Stewart said.

    Valued at a forward EBITDA multiple of approximately 10x, the $3 billion investment will be fully funded through committed debt financing arranged by Morgan Stanley, per the terms of the deal. The transaction is expected to close in early 2027, pending completion of customary regulatory approvals and standard closing conditions, and is projected to be accretive to Royal Caribbean Group’s earnings as early as next year.

    Financial advisory for Sandals Group was led by BofA Securities and PJT Partners, with legal counsel provided by Latham & Watkins and Jones Day. Perella Weinberg Partners and Morgan Stanley served as financial advisors to Royal Caribbean Group, while Kirkland & Ellis LLP handled legal advisory work for the cruise group. The partnership agreement was signed at Royal Caribbean Group’s new headquarters in Miami, with Liberty and Stewart marking the milestone at the official signing event.

    A global leader in vacation experiences, Royal Caribbean Group currently operates 71 ships that call on more than 1,000 destinations across all seven continents through its three wholly owned cruise brands, in addition to holding a 50% joint venture stake in TUI Cruises, which operates the Mein Schiff and Hapag-Lloyd cruise lines. The company is actively expanding its collection of private destination getaways through its Perfect Day and Royal Beach Club brands, and is set to launch Celebrity River Cruises, its new river cruising division, in 2027. Backed by innovative brands, cutting-edge technology and an industry-leading loyalty program, Royal Caribbean Group has built a fully connected vacation ecosystem focused on turning one special vacation into a lifetime of getaways for guests. Recognized as one of Fortune’s World’s Most Admired Companies for 2026 and named to Forbes’ 2026 list of Best American Companies, the group operates around its core mission of delivering exceptional vacations responsibly.

    For more than 40 years, Sandals and Beaches Resorts have redefined all-inclusive Caribbean hospitality, drawing on the region’s unique warmth, vibrancy and cultural spirit to create distinct guest experiences. Sandals Resorts, the brand’s adults-only all-inclusive division, operates beachfront properties across eight Caribbean nations: Jamaica, Antigua, Saint Lucia, The Bahamas, Barbados, Grenada, Curaçao, and Saint Vincent and The Grenadines. The brand combines elevated offerings ranging from local and global gourmet cuisine and dedicated butler service to signature suites and the Caribbean’s first overwater villas with the unique cultural identity of each host island.

    Beaches Resorts, the family-focused arm of the brand, caters to modern travel preferences with family-centric all-inclusive getaways. It currently operates resorts in Negril, Jamaica and Turks and Caicos, with new locations under development in Exuma (The Bahamas), Barbados, Runaway Bay (Jamaica), and Saint Vincent and The Grenadines. Amenities including spacious multi-bedroom villas, diverse dining and live entertainment, on-property waterparks, and award-winning kids’ camps that include specialized autism-friendly programming have made Beaches a top choice for family and multigenerational group travel.

    Beyond its hospitality operations, Sandals and Beaches runs the Sandals Foundation, the brand’s non-profit philanthropic arm dedicated to strengthening Caribbean communities through targeted programs focused on education, community development and environmental conservation.

    As with all major corporate transactions, the agreement carries forward-looking statements that are subject to a range of risks and uncertainties that could impact actual outcomes, including general economic conditions, shifts in consumer travel demand, global health events, regulatory changes, cybersecurity risks, fluctuations in fuel prices and foreign exchange rates, and challenges related to staffing and supply chain operations.

  • Dominican Republic heads to Argentina as Guest of Honor at FIT Latin America 2026

    Dominican Republic heads to Argentina as Guest of Honor at FIT Latin America 2026

    Fresh off a successful appearance at Paris’ leading international tourism exhibition, the Dominican Republic is shifting its focus to the next major industry gathering, with tourism officials gearing up for a high-profile turn as Guest of Honor at the 30th edition of FIT Latin America 2026 in Buenos Aires. Dominican Tourism Minister David Collado has confirmed the country’s delegation is already en route to Argentina for the four-day event, which will run from September 26 to 29 at the iconic La Rural exhibition center.

    As the honored guest nation, the Dominican Republic will claim a sprawling 400-square-meter dedicated pavilion in the event’s international exhibition zone, designed to immerse visitors in the full breadth of the country’s diverse tourism offerings. Attendees will get an up-close look at everything from the Dominican Republic’s world-famous white-sand Caribbean beaches and vibrant local gastronomy to its rich musical traditions, handcrafted artisanal goods, centuries-old cultural heritage, and one-of-a-kind travel experiences that cater to every type of traveler.

    More than 35 private-sector stakeholders will join the official national delegation, spanning major hotel groups, boutique accommodation providers, and specialized tourism experience companies that operate across the country. The delegation’s core agenda for the event centers on three key priorities: unlocking new cross-border business partnerships, amplifying the Dominican Republic’s profile as a top global travel destination, and expanding and strengthening international air connectivity between the country and regional and global markets.

    Hosted in Argentina’s capital, FIT Latin America 2026 will occupy more than 20,000 square meters of total exhibition space, making it one of the largest regional tourism industry gatherings of the year. To accommodate both public interest and professional networking, event organizers have structured the schedule to welcome general leisure travelers on the first two days, September 26 and 27, while reserving the final two days, September 28 and 29, exclusively for B2B meetings and engagements among tourism industry professionals.

    This high-stakes participation in FIT Latin America is not an isolated appearance: it forms a core part of the Dominican Ministry of Tourism’s long-term, global promotion strategy, which aims to solidify the country’s reputation as a must-visit travel destination among travel industry leaders, tour operators, and tourism businesses across the Latin American region. The strategy builds on the momentum from recent international exhibitions, continuing the country’s steady push to expand its tourism market share and attract more international visitors from across the globe.