US Stock Market Move | Royal Caribbean Cruises (RCL.US) Falls 3% on Plan to Acquire Half of Sandals for $3 Billion

On Wednesday, Royal Caribbean Cruises (RCL.US) opened lower and drifted down, falling more than 5% at one point intraday before narrowing its loss to 3% as of press time. On the news front, Royal Caribbean International announced it has agreed to acquire a 50% stake in all-inclusive resort operator Sandals Resorts International for $3 billion, valuing the latter at $6 billion. This is the largest deal in the company's history, aimed at expanding its business from sea to land-based resort market. The company's stock has fallen about 25% over the past year, after it lowered its revenue growth forecast due to weakening demand for European itineraries. According to the statement, Royal Caribbean will receive a 50% stake in a newly established joint venture that controls Sandals' business, with some members of the Stewart family retaining control of the other half. The transaction is expected to close in early 2027.