Sandals Resorts International is reportedly exploring a sale of the company, according to the Wall Street Journal.
The WSJ said that Sandals is working with bankers on the possibility of a sale, citing people familiar with the matter. A sale could fetch between $6 billion and $7 billion, though Sandals could decide against selling, according to those same sources.
This isn't the first time Sandals has sought a buyer. The company in 2017 said it hired Deutsche Bank to explore its options.
A Sandals representative said the company doesn't comment on speculation.
Founded in 1981 by Gordon "Butch" Stewart, Sandals currently operates 17 all-inclusives in the Caribbean under its adults-only Sandals flag and three under family brand Beaches. The company has resorts in Jamaica, the Bahamas, St. Lucia, Grenada, Barbados, Antigua, Curacao and Turks and Caicos.
Stewart died in 2021, with his son, Adam Stewart, taking the helm as Sandals' executive chairman. Under Adam Stewart's leadership, the company has embarked on an extensive repositioning and expansion, unveiling a multimillion-dollar ad campaign late last year and recently announcing an investment of nearly $1 billion into expanding its Beaches portfolio.
There is strong demand in the all-inclusive sector. Major hotel companies have been expanding in this space, with Hyatt recently agreeing to acquire all-inclusive resort operator Playa Hotels & Resorts for approximately $2.6 billion, including debt.