CLUB MED ADVANCES STRATEGIC NORTH AMERICAN EXPANSION WITH THE REDEVELOPMENT OF CARAMBOLA BEACH RESORT IN ST. CROIX IN PARTNERSHIP WITH VICI PROPERTIES

VICI Properties (NYSE: VICI) and Club Med announced the acquisition and redevelopment of Carambola Beach Resort in St.

Rhea-AI Summary

VICI Properties (NYSE: VICI) and Club Med announced the acquisition and redevelopment of Carambola Beach Resort in St. Croix, U.S. Virgin Islands. VICI has acquired the 150-key resort, entered a long-term triple-net lease with Club Med, and will fund its upgrade to Club Med's Exclusive Collection standards.

The future Club Med St. Croix marks Club Med's return to U.S. shores. According to Club Med, construction is expected to start in summer 2026, with a targeted reopening in Q4 2027 and an estimated 200 direct jobs created.

Positive

• VICI acquires Carambola Beach Resort and signs long-term triple-net lease with Club Med
• VICI will fund redevelopment of 150-key resort to Exclusive Collection standards
• Project marks Club Med’s return to U.S. market, supporting brand visibility at a VICI asset
• Redevelopment projected to create about 200 direct jobs on St. Croix

Negative

• VICI assumes responsibility to fund comprehensive resort redevelopment with no investment amount disclosed

Argus Jun 15 session

-1.86% close to close Open Argus

Details

News Market Reaction – VICI

On Jun 15, the day this news came out, VICI closed 1.86% below the previous close.

Data tracked by StockTitan Argus for the Jun 15 session.

Key Figures

Resort size: 150-key resort Projected direct jobs: 200 jobs Club Med resorts: Nearly 60 resorts +5 more

Resort size

150-key resort

Future Club Med St. Croix property to be operated by Club Med

Projected direct jobs

200 jobs

Direct employment expected from redevelopment of Carambola Beach Resort

Club Med resorts

Nearly 60 resorts

Club Med global footprint in premium all-inclusive destinations

Experiential assets

101 assets

VICI portfolio across U.S. and Canada

Gaming properties

61 properties

Gaming assets within VICI’s portfolio

Other experiential properties

40 properties

Non-gaming experiential assets owned by VICI

Portfolio size

Approximately 130M sq ft

Total area of VICI’s experiential real estate portfolio

Hotel room count

Over 66,000 rooms

Hotel rooms across VICI-owned properties

Historical Context

5 past events · Latest: Jun 04

5 events

1. Jun 04

   Dividend declaration

   24h Move

   +2.4%

   Declared regular quarterly cash dividend of $0.45 per share.

2. May 04

   Acquisition-related deal

   24h Move

   +0.6%

   VICI involved in Golden Entertainment go-private transaction with cash and share consideration.

3. Apr 30

   Sale-leaseback deal

   24h Move

   -2.1%

   Closed $1.16B sale-leaseback for seven Nevada casino properties with new triple-net lease.

4. Apr 29

   Quarterly earnings

   24h Move

   +2.1%

   Reported Q1 2026 revenue of $1.0B and raised full-year AFFO guidance.

5. Apr 27

   Index change link

   24h Move

   +0.7%

   Index reshuffle noted Golden’s removal due to acquisition by VICI and partner.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

triple-net lease, all-inclusive, reit, s&p 500, +2 more

6 terms

triple-net lease financial

"VICI has entered into a long-term triple-net lease with Club Med"

A triple-net lease is a rental agreement where the tenant pays the base rent plus the property's operating expenses—typically taxes, insurance, and maintenance—so the landlord receives mostly a steady, predictable cash payment. For investors, it matters because it can act like a low-maintenance, bond-like income stream with clearer expense exposure, but returns depend on the tenant’s financial strength and long-term ability to cover those extra costs.

all-inclusive financial

"the pioneer of the all-inclusive concept with nearly 60 resorts"

An all-inclusive offering bundles the stated product or service with virtually all related fees, add-ons and services into one single price, so buyers know up front what they will pay. For investors, an all-inclusive label signals simpler revenue recognition and clearer customer pricing, but it also means margins and future upsell opportunities may be compressed; think of it like a fixed-price vacation package that covers lodging, meals and activities instead of separate bills.

reit financial

"an S&P 500 experiential real estate investment trust, announced today"

A real estate investment trust (REIT) is a company that owns, operates, or finances income-producing real estate, like shopping centers, apartments, or office buildings. For investors, REITs offer a way to invest in real estate without having to buy property directly, often providing regular income through dividends. They function like a mutual fund for real estate, making it easier for people to add property investments to their portfolio.

s&p 500 financial

"VICI Properties Inc. (NYSE: VICI), an S&P 500 experiential real estate"

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

breeam technical

"the project will target BREEAM and Green Globe certifications"

BREEAM is a widely used rating system that evaluates how environmentally friendly and resource-efficient a building is across factors like energy use, water, materials, waste and occupant health. For investors, a high BREEAM score acts like a visible fuel‑efficiency label or building “health check,” indicating lower operating costs, stronger tenant appeal, reduced regulatory and climate risk, and often better resale value—helping assess long-term financial performance.

green globe certifications technical

"the project will target BREEAM and Green Globe certifications"

Green Globe certifications are third‑party sustainability ratings awarded to businesses, mainly in tourism and hospitality, that meet standards for environmental management, social responsibility, and resource efficiency. For investors they act like an independent “eco‑report card”: certification can signal lower regulatory and reputational risk, potential cost savings from energy and waste reductions, and stronger appeal to customers and partners who prefer sustainable operators.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Developed in partnership with VICI Properties, the resort will mark Club Med's return to U.S. shores, bringing Club Med's signature all-inclusive experience to the cultural heart of the Virgin Islands

ST. CROIX, U.S. Virgin Islands, June 15, 2026 /PRNewswire/ -- Club Med, the pioneer of the all-inclusive concept with nearly 60 resorts in some of the world's most desired vacation destinations, and VICI Properties Inc. (NYSE: VICI), an S&P 500 experiential real estate investment trust, announced today the acquisition and planned redevelopment of the iconic Carambola Beach Resort, located in the U.S. Virgin Islands, marking the return of Club Med to U.S. shores. The future Club Med St. Croix will reinforce the hospitality brand's leadership in the premium all-inclusive category, while bringing a renewed spirit to the destination's most historic beachfront property.

The project is a result of a partnership between Club Med and VICI. Following VICI's acquisition of the Carambola Beach Resort, VICI has entered into a long-term triple-net lease with Club Med, and will fund the resort's redevelopment, elevating the property to Club Med's Exclusive Collection standards. Club Med will run the future operations of the historic 150-key resort, transforming it into a model for sustainable, culturally rich and all-inclusive hospitality in the region.

"The U.S. Virgin Islands represent an exciting new chapter for Club Med," said Carolyne Doyon, President and CEO of Club Med North America and the Caribbean. "For more than seven decades, we've welcomed North American travelers to our destinations around the world, and now we're bringing that experience back home. With St. Croix's natural beauty, strong community spirit, and deep cultural roots, together with the longstanding legacy of this hotel, this project reflects our vision for thoughtful growth, and meaningful connection across the Americas."

John Payne, President and COO of VICI, said, "We are very excited to begin our partnership with Club Med, a true pioneer of the premium all-inclusive resort experience and the brand leader in the category. Club Med's approach to growth aligns directly with how VICI partners with best-in-class experiential operators, and Carambola Beach Resort is an ideal asset to launch our relationship. We have tremendous respect for what the Club Med team has built, and we look forward to opportunities to support their continued growth across North America for years to come."

An Iconic Setting Reimagined
Originally built in 1986 by philanthropist and conservation pioneer Laurance Rockefeller, Carambola Beach Resort reflects his enduring vision for the U.S. Virgin Islands, where hospitality and preservation exist in balance. Club Med's redevelopment plans envision a comprehensive renovation that preserves the property's natural beauty and historic roots.

The resort, nestled between a crescent beach and tropical rainforest, will be part of Club Med's Exclusive Collection, the brand's most refined portfolio of premium all-inclusive resorts, distinguished by elevated design, personalized service, and exceptional experiences in extraordinary settings.

A Flagship Destination and a U.S. Homecoming
Club Med St. Croix will mark the brand's reentry onto U.S. soil and aims to attract travelers from the U.S., Canada, and around the world seeking a high quality, all-inclusive experience in a unique island setting. Beyond its touristic appeal, the resort will act as a key economic driver for St. Croix and the broader Virgin Islands, fueling job creation, local partnerships, and sustainable growth across the territory.

Empowering Local Opportunity: Economic Impact
Discussions with senior government officials have highlighted shared ambitions around local employment, education and training, business development, and responsible tourism.

Aligned with Club Med's Happy to Care sustainability commitments, the project will target BREEAM and Green Globe certifications—benchmarks of environmental design and operational responsibility. Together, these efforts underscore Club Med's longstanding focus on environmental performance and community stewardship.

"The arrival of the Club Med brand to the U.S. Virgin Islands marks another significant milestone in the continued economic growth and revitalization of our islands — particularly St. Croix — where tourism remains a key driver of opportunity and investment," said Governor Albert Bryan Jr. "We are proud to welcome the Club Med team to the territory and look forward to growing this partnership as we continue elevating the U.S. Virgin Islands, celebrating our people and culture, and welcoming new and returning visitors to our beautiful shores."

Once complete, the redevelopment is projected to generate approximately 200 direct jobs along with at least as many indirect opportunities. The resort is expected to further stimulate the local economy through collaborations with excursion operators, service providers, and local farmers and artisans, reinforcing the connection between tourism and the island's broader community. Club Med plans to continue to engage with the local community in the upcoming months to share further details of the project.

Construction is expected to begin in summer 2026, followed by a targeted reopening in Q4 2027.

To learn more about Club Med's existing footprint in North America, click here and to partner with Club Med on other potential developments, visit clubmeddevelopment.com.

ABOUT CLUB MED

Club Med, founded in 1950 by Gérard Blitz, is the pioneer of the all-inclusive concept, operating nearly 60 premium resorts in stunning locations around the world including North and South America, Caribbean, Asia, Africa, Europe and the Mediterranean. Each Club Med resort features authentic local style and comfortably upscale accommodations, superior sports programming and activities, enriching children's programs, gourmet dining, and warm and friendly service by its world-renowned staff with legendary hospitality skills, an all-encompassing energy and diverse backgrounds. 

Club Med operates in 40 countries spanning across 5 continents and continues to maintain its authentic Club Med spirit with an international staff of more than 23,000 employees from more than 110 different nationalities. Led by its pioneering spirit, Club Med continues to grow and adapt to each market with three to five new resort openings or renovations per year, including a new mountain resort annually. 

For more information, visit www.clubmed.us, call 1-800-Club-Med (1-800-258-2633), or contact a preferred travel professional. For an inside look at Club Med, follow Club Med on Facebook, Instagram, and YouTube. 

About VICI Properties Inc.
VICI Properties Inc. is an S&P 500® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 101 experiential assets across a geographically diverse portfolio consisting of 61 gaming properties and 40 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 130 million square feet and features over 66,000 hotel rooms and over 700 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Cabot, Cain, Canyon Ranch, Chelsea Piers, Club Med, Great Wolf Resorts, Homefield, Kalahari Resorts and Lucky Strike Entertainment. VICI Properties also owns four championship golf courses and approximately 33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties' goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators. For additional information, please visit www.viciproperties.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. You can identify these statements by our use of the words "assumes," "believes," "estimates," "expects," "guidance," "intends," "plans," "projects," "will," and similar expressions that do not relate to historical matters. All statements other than statements of historical fact are forward-looking statements. You should exercise caution in interpreting and relying on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, which are, in some cases, beyond VICI's control and could materially affect VICI's actual results, performance, achievements, or VICI's ability to achieve the benefits contemplated by the transaction. Other important risk factors that may affect VICI's business, results of operations and financial position (including risks relating to VICI's pending transactions) are detailed from time to time in VICI's filings with the Securities and Exchange Commission. VICI does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as may be required by applicable law.

Club Med Media Contacts:
Malaika Hollis
Alliance Connection
Malaika@allianceconnection.com

VICI Investor Contacts:
Investors@viciproperties.com
(646) 949-4631

Or

David Kieske
EVP, Chief Financial Officer
DKieske@viciproperties.com

Moira McCloskey
SVP, Capital Markets
MMcCloskey@viciproperties.com

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SOURCE Club Med

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did VICI Properties (NYSE: VICI) announce about Carambola Beach Resort in June 2026?

VICI Properties announced it acquired Carambola Beach Resort in St. Croix and entered a long-term triple-net lease with Club Med. According to VICI Properties, it will also fund the resort’s redevelopment, upgrading the 150-key property to Club Med’s Exclusive Collection standards.

How will the Club Med St. Croix redevelopment with VICI Properties impact the local economy?

The redevelopment is projected to generate about 200 direct jobs and at least as many indirect opportunities. According to Club Med, the resort should stimulate local business through partnerships with excursion operators, service providers, farmers, and artisans across St. Croix and the wider Virgin Islands.

When will construction and reopening of Club Med St. Croix with VICI Properties take place?

Construction on Club Med St. Croix is expected to begin in summer 2026, with reopening targeted for Q4 2027. According to Club Med, the project includes a comprehensive renovation that preserves the site’s natural beauty and historic character while elevating it to Exclusive Collection standards.

What is the nature of the lease between VICI Properties and Club Med for Carambola Beach Resort?

VICI Properties has entered into a long-term triple-net lease with Club Med for Carambola Beach Resort. According to VICI Properties, Club Med will operate the 150-key resort, while VICI owns the real estate and funds the planned redevelopment in the U.S. Virgin Islands.

How does the Carambola Beach Resort deal fit VICI Properties’ experiential real estate strategy?

The Carambola Beach Resort transaction aligns with VICI Properties’ focus on partnering with leading experiential operators. According to VICI Properties, Club Med is a pioneer in premium all-inclusive resorts, making the St. Croix asset a strategic addition to its diversified experiential portfolio.

Why is the Club Med St. Croix project significant for Club Med’s North American expansion?

Club Med St. Croix will mark Club Med’s return to U.S. soil and support North American growth. According to Club Med, the premium all-inclusive resort aims to attract travelers from the U.S., Canada, and beyond, reinforcing its leadership in the Exclusive Collection segment.