Royal Caribbean Group may have more real estate in its pipeline than people realize, according to a remark from Jason Liberty, chairman and CEO, on the company’s third quarter earnings call on Tuesday.

Asked whether the company saw opportunities for land-based all-inclusive resorts outside the Caribbean by a Wall Street analyst, Liberty said the answer was yes.

“By the way, we also sit on a lot of land around the world, which we don’t talk a lot about,” he said.

Liberty did not elaborate on where the holdings are located or how much land is involved.

The comment came as he discussed the company’s planned $3 billion investment for a 50 percent stake in Sandals and Beaches Resorts.

Liberty said the company had tested the Sandals and Beaches brands and believed they had strong appeal around the world, though the near-term focus would remain on growing their footprint in the Caribbean.

The resort deal includes more than 1,000 acres of undeveloped Caribbean real estate, much of it beachfront and adjacent to existing resorts, with several greenfield sites as well.

Royal Caribbean has also been building out its own destinations. Liberty said the company had more than 100 destination projects underway in some form, and Michael Bayley, president and CEO of Royal Caribbean International, said the brand would break ground in two weeks on its Royal Beach Club in Lelepa, Vanuatu.

The company did not say whether its other land holdings were earmarked for cruise destinations, resorts or future development.