Hotel News Now: CEO sees hotels as Margaritaville’s sweet spot
With a $175-million resort set to open this summer, Margaritaville Holdings CEO John Cohlan plans to aggressively expand the brand in the hotel industry. The Margaritaville Hollywood Beach Resort is set on six acres along 450 feet of beachfront in Hollywood, Florida.
ORLANDO, Florida—Margaritaville Holdings has turned the laid-back image of one Jimmy Buffett song into a billion-dollar business and has set its sights on aggressively growing its hotel portfolio to match the other facets of its business.
With three hotels in operation and a fourth one due to open soon, the company is poised to expand its footprint globally, according to CEO John Cohlan.
“We’re in the destination business; it doesn’t have to be on a beach,” Cohlan said. “The growth opportunity is somewhat boundless. We’re going to be destination-focused in America and around the world.”
Cohlan said the company has plans for “many projects,” including a $175-million resort in Hollywood, Florida, that is scheduled to open later this summer, and one he said the company is close to announcing, but he declined to reveal any details.