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
[email protected]

VICI Investor Contacts:
[email protected]
(646) 949-4631

Or

David Kieske
EVP, Chief Financial Officer
[email protected]

Moira McCloskey
SVP, Capital Markets
[email protected]

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SOURCE Club Med