In Brief: VICI Properties and Club Med have announced the acquisition and planned redevelopment of the Carambola Beach Resort in St. Croix, with Club Med set to operate the property under a long-term lease following VICI’s acquisition and funding of the renovation.
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The future site of Club Med St. Croix – Image Credit Club Med
VICI Properties and Club Med have entered into a partnership involving the acquisition and planned redevelopment of the Carambola Beach Resort in the U.S. Virgin Islands. VICI Properties has acquired the property and entered into a long-term triple-net lease with Club Med, which will operate the resort after redevelopment. VICI will fund the renovation, which is planned to elevate the property to Club Med’s Exclusive Collection standards.
The Carambola Beach Resort, originally built in 1986, is a 150-key property located between a crescent beach and tropical rainforest. Club Med’s plans include a comprehensive renovation that preserves the resort’s natural beauty and historic features. Upon completion, the resort will be part of Club Med’s Exclusive Collection portfolio.
The redevelopment is projected to generate approximately 200 direct jobs and at least as many indirect opportunities. The resort is also expected to stimulate the local economy through collaborations with excursion operators, service providers, and local farmers and artisans.
Discussions with senior government officials have addressed local employment, education and training, business development, and responsible tourism. The project will target BREEAM and Green Globe certifications for environmental design and operational responsibility.
Construction is expected to begin in summer 2026, with a targeted reopening in the fourth quarter of 2027. Club Med plans to continue engaging with the local community in the coming months to share further details of the project.
