What's Happening?
VICI Properties and Club Med have announced a partnership to acquire and redevelop the Carambola Beach Resort in St. Croix, U.S. Virgin Islands. VICI Properties has purchased the property and entered into a long-term lease with Club Med, which will manage
the resort post-renovation. The redevelopment aims to elevate the resort to Club Med's Exclusive Collection standards, preserving its natural beauty and historic features. Originally built in 1986, the 150-key resort is situated between a crescent beach and tropical rainforest. The project is expected to create approximately 200 direct jobs and numerous indirect opportunities, boosting the local economy through collaborations with local businesses and service providers.
Why It's Important?
The redevelopment of the Carambola Beach Resort is significant for the local economy of St. Croix, as it promises to create jobs and stimulate economic activity. By aligning with Club Med's Exclusive Collection standards, the project aims to attract high-end tourism, which can lead to increased revenue for local businesses and service providers. The focus on environmental sustainability, with plans to achieve BREEAM and Green Globe certifications, highlights a commitment to responsible tourism. This project could serve as a model for future developments in the region, balancing economic growth with environmental stewardship.
What's Next?
Construction is slated to begin in the summer of 2026, with a targeted reopening in the fourth quarter of 2027. Club Med plans to engage with the local community to share project details and ensure that the development aligns with local interests. Ongoing discussions with government officials will focus on employment, education, and responsible tourism, ensuring that the project benefits the local community. The success of this redevelopment could influence future investment in the region, potentially attracting more international brands to the U.S. Virgin Islands.
