VICI Properties invests in Club Med resort in St. Croix

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Summary · why it matters

VICI Properties has secured the Carambola Beach Resort in St. Croix, U.S. Virgin Islands, for refurbishment into a Club Med resort, marking the company's return to the U.S. territory. VICI will fund the total renovation of the 150-key facility as part of a joint venture deal, while Club Med will sign a long-term triple-net contract. Separately, Scotiabank raised its price target on VICI to $32 from $30 on May 12, maintaining a Sector Perform rating. In the first quarter of 2025, VICI's adjusted funds from operations rose 5.7% to $650.9 million from $616.0 million a year earlier.

Impact on assets 2

Real Estate▲
VICI Properties Inc
VICI
▲ PositiveDemandCapitalrelevance

VICI invests in a Club Med resort, securing a long-term triple-net contract with Club Med, driving demand for its properties.

Financials▲

Off-coverage companies 1

Club Medi
Private▲ PositiveDemandrelevance

Club Med signs a long-term triple-net contract for a new resort in St. Croix, expanding its footprint.