Jimmy Buffett's Margaritaville empire is rapidly expanding across the hospitality industry.
The brand's portfolio includes resorts, senior living communities, RV parks, a cruise brand, and more.
Margaritaville Holdings' CEO said the company may be the "fastest-growing hotel brand" in the US.
In 1977, famed musician Jimmy Buffett released his hit tropical anthem, "Margaritaville," a simple tune that's now synonymous with relaxing at the beach while "wasting away again."
The alcohol-soaked sponge cake and sunbake destination may have been an imaginary getaway in the 1970s hit …
… but since then, the Margaritaville name has been co-opted into a hospitality empire with a footprint that extends across the US and into international destinations like Mexico, Belize, and Puerto Rico.
Now, Margaritaville is a "diversified lifestyle brand" — according to a statement from John Cohlan, CEO of Margaritaville Holdings — that creates tropical havens for consumers looking for the getaway Buffett once crooned about.
"Most brands take on the identity of the product they brand, [like how] Starbucks stands for coffee," Cohlan told Insider in October. "[But] Margaritaville really stands for an emotion because it was in the culture for a long time before there was a product."
The first Margaritaville restaurant opened in 1987 in Key West, Florida.
Source: The New York Times
Since then, the eatery has grown into a hospitality giant with a portfolio that includes resorts, vacation homes, timeshares ...
... more restaurants, senior living communities, bars, RV parks, and now, a cruise line.
"However you like to lodge, we can provide that opportunity for you in our lifestyle," Cohlan said.
The tropical brand currently has 32 food and beverage offerings …
… and over 20 hotels in locations like Florida, California, Missouri, and Costa Rica.
But in the next three years, the company plans to have 50 resorts open, according to Cohlan.
"I would think we've got to be the fastest-growing hotel brand in the country," Cohlan said. "We're expanding very very rapidly."
Within the past year throughout COVID-19, Margaritaville has already opened new properties in destinations like Times Square, New York, Jacksonville Beach, Florida, and Nassau, Bahamas.
And looking ahead, the brand has already announced upcoming locations in Belize, Florida, California, Oregon, and more.
This year, the Times Square location is even getting into the business of celebrating the new year.
The $300 million hotel recently unveiled a New Year's Eve event, and the most expensive package starts at $1,710.
Similar to its hotel arm, Margaritaville is also looking to rapidly grow its new RV parks business, Camp Margaritaville.
The brand rolled out its first RV park in Lake Lanier, Georgia in 2019 to "off the charts" reception and reviews, Jim Wiseman, the president of development at Camp Margaritaville, told Insider in October.
On the heels of this success, within the next five years, Margaritaville is targetting opening 30 to 50 RV parks nationwide.
"What surprised us at Lake Lanier was the average daily rate we could generate with an upscale camping experience," Wiseman said. "That drove our interest to move [the expansion of Camp Margaritaville] along quicker."
At the moment, Margaritaville has over 20 projects in the works ...
... whether it be resorts, senior living communities, or RV resorts, a spokesperson told Insider in an email in October.
And it's not just land-based hospitality offerings.
In December, Margaritaville also announced its own cruise brand, quaintly called Margaritaville at Sea. The brand's first cruise ship will begin sailing out of Florida in April 2022.
The Margaritaville Paradise will have 658 cabins and branded food and beverage options that are consistent across the brand, which could appeal to some of Margaritaville's loyal fans.
"We'll continue to go places where consumers are looking for leisure experiences," Cohlan said in October when asked about plans to expand into other hospitality markets before the cruise brand was unveiled.
"But at the same time, we're focused on delivering the type of experiences we've been successful delivering," he continued.
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