Scotiabank analyst Nicholas Yulico has adjusted his outlook on VICI Properties, reducing the price target while maintaining the existing rating. The firm lowered its price objective for the stock to $29, down from the previous target of $32. Yulico kept a Sector Perform rating on the shares.

The revision reflects a reassessment of the company's valuation potential within its sector. VICI Properties trades on the NYSE under the ticker symbol VICI.

Club Med and VICI Properties Inc. announced the acquisition and planned redevelopment of the Carambola Beach Resort in St. Croix, U.S. Virgin Islands, marking the return of Club Med to U.S. shores. The partnership aims to transform the historic 150-key resort into a premium all-inclusive destination within Club Med's Exclusive Collection, targeting a reopening in Q4 2027. This project reinforces Club Med's leadership in the premium all-inclusive category while bringing a renewed spirit to the destination's most historic beachfront property.

VICI Properties has acquired the resort and entered into a long-term triple-net lease with Club Med, which will fund the redevelopment. Club Med will manage future operations, elevating the property to meet its Exclusive Collection standards. The redevelopment plans include a comprehensive renovation designed to preserve the natural beauty and historic roots of the site, originally built in 1986 by Laurance Rockefeller. The resort will be nestled between a crescent beach and tropical rainforest.

The project is projected to generate approximately 200 direct jobs, along with at least as many indirect opportunities. It is expected to stimulate the local economy through collaborations with excursion operators, service providers, and local farmers and artisans. Discussions with government officials, including Governor Albert Bryan Jr., have emphasized shared ambitions regarding local employment, education, and responsible tourism.

Aligned with Club Med's Happy to Care sustainability commitments, the resort will target BREEAM and Green Globe certifications. These benchmarks underscore the brand's focus on environmental performance and community stewardship. The resort will serve as a key economic driver for St. Croix and the broader Virgin Islands.

Construction is expected to begin in summer 2026. The future Club Med St. Croix will aim to attract travelers from the U.S., Canada, and globally seeking a high-quality, all-inclusive experience in a unique island setting.

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