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VICI Buys Caribbean Resort for Club Med Makeover
6 Jul
Summary
- VICI Properties is acquiring Carambola Beach Resort in St. Croix.
- The resort will be redeveloped to meet Club Med Exclusive standards.
- Renovations begin this summer with a 2027 Q4 reopening.
VICI Properties Inc. has announced plans to acquire the Carambola Beach Resort located in St. Croix, US Virgin Islands. This strategic acquisition marks a significant expansion for the real estate investment trust.
The company intends to partner with Club Med to redevelop the 150-key property. The goal is to elevate the resort to meet the high standards of Club Med's Exclusive Collection brand.
Work on the comprehensive redevelopment is slated to begin in the summer. VICI Properties aims for the resort to reopen its doors in the fourth quarter of 2027.
Following the renovation, the Carambola Beach Resort will be integrated into Club Med's portfolio of premium, all-inclusive destinations. VICI Properties, an experiential REIT, focuses on acquiring and owning market-leading destination assets.
