Financial problems for Margaritaville Hollywood Beach Resort

From the Sun Sentinel.com: “Margaritaville hits financing skids

The fate of the long-anticipated Margaritaville Hollywood Beach Resort is in peril because of problems obtaining financing, but the city and the developer say they’re optimistic the money will come through.

Developer Lon Tabatchnik is supposed to have financing in place by Tuesday but has yet to raise the $126 million needed for the 17-story, 349-room Jimmy Buffett-themed resort.

But Tabatchnik, city officals say, has received commitments to date from only 26 Chinese investors, which would raise $13 million, far too little to meet Tuesday’s deadline.

To get the project going, he’s now talking to banks for loans and he’s asking the city’s Community Redevelopment Agency to kick in up to $25 million.

Update on the Margaritaville Beach Resort

Update: From CBS Local: “Sneak Peak At New Hollywood Beach Margaritaville

Parrot heads may soon be flocking to Hollywood Beach. Developers of the new Margaritaville Hollywood Beach Hotel Resort have released new renderings of the Jimmy Buffett themed-beachfront oasis.

From Sun-Sentinel.com: “Margaritaville brings excitement and renovations to Hollywood beach

From the Miami Herald: “Margaritaville not open yet, but ready to party

The Margaritaville Beach Resort isn’t even open yet, and it’s already booked it’s first big event. Thursday night, the site of the future Margaritaville will be hosting The Huddle, a conference for travel planners, in order to get Hollywood on the map as a premiere destination.

And the future, for Margaritaville — which is tied to singer Jimmy Buffett — is looking bright, said Tabatchnick, during a presentation to the Hollywood City Commission Wednesday.

“We are getting there,” he said. “We are going through the process.”

Though there have been some delays — including pushing back the opening from March 2014 to August 2014 — Tabatchnick said within 60 to 90days he should have the building permits, community development district approval for the public garage and most of the financing secured.

Proposed Margaritaville Casino & Hotel in Bossier City LA

From KTBS.com: “Bossier City Council Approves Negotiation For New Casino

The Bossier City Council on Wednesday gave the mayor’s administration clearance to finalize the sale of city land to a Jimmy Buffet’s Margaritaville-themed casino.

The casino would be built on what used to be the city dump, located just north of Louisiana Boardwalk — if state regulatory agencies approve it and Bossier Parish voters agree to an expansion of gambling in Bossier. That election is tentatively scheduled for November.

Developers of the proposed casino, who want to relocate a casino license now held in Lake Charles, said they want to build a Jimmy Buffett’s Margaritaville casino and hotel. The complex, which would cost $170 million, would include a 400-room hotel and Margaritaville restaurant. It would include parking for 1,500 vehicles and an entertainment facility for concerts.

Updates from Margaritaville.com

Jimmy Buffett Tampa Concert LIVE at LandShark Landing on April 16, 2011 at the Margaritaville Beach Hotel in Pensacola Beach, FL. Jimmy Buffet’s concert in Tampa will be streamed LIVE to a 20’ screen on the beach at LandShark Landing. The event is FREE and guests are welcome to bring chairs or blankets to enjoy the concert on the beach.

Margaritaville Lifestyle has a whole new look! Shop now through Sunday online at MargaritavilleLifestyle.com only, and receive 20% Off your order by using code FINLAND at checkout! See image for details, and fins up for FINLAND!

Five new styles from Margaritaville Eyewear are newly available, online at MargaritavilleEyewear.com! From the ocean to the beach to the streets of the city, these shades of the tropics combine state-of-the-art optical science and fun-in-the-sun protection!

Hollywood Beach Margaritaville Resort gets approval

From the Miami Herald: “Quaint Hollywood beach on the cusp of change

On Wednesday, Hollywood commissioners gave their blessing for Margaritaville, a vast 17-story resort hotel that promises to change the face of the beach.

The Jimmy Buffett-themed resort won’t break ground for another year, but visitors and locals already are waking up to the clatter of saws, hammers and construction trucks.

Hollywood beach has been on the cusp of change for three decades. While some would like to see its tacky shops and deteriorated properties disappear, old-timers want the beach to retain the quirky personality and small-town character that has been attracting retired Northerners, North Miamians and Canadian tourists for generations.

That said, beach regulars are torn about whether Margaritaville will be, as Buffett might say “Heaven on Earth with an onion slice.”

Over the years, city leaders have spent millions to polish the beach’s bedraggled reputation. They’ve spent $400 million to rescape its 2 ½-mile Broadwalk, bury power lines and turn side streets into artsy thoroughfares with sculptures, fountains and towering palm trees.

Lon Tabatchnick, developer for the $130-million Margaritaville, believes that the Jimmy-Buffett-themed hotel/resort will finally be the catalyst that the beach needs to make it a sought-after vacation destination — and, in time, lure other investors.

The resort, to be built on a six-acre stretch at Johnson Street and the Broadwalk, will have 350 rooms, a pool with a wave simulator, restaurants, a 22,000-square-foot banquet room, parking garage, shops and event areas.

Video and Photos of the Margaritaville Beach Hotel

A video of the recently opened Margaritaville Beach Hotel is available at FoxTV10.com:

In the midst of the devastating oil spill, there is some good news. A $50 million hotel is open on Pensacola Beach. Margaritaville Beach Hotel opens at time many places are considering closing down.

They have beach volleyball and a bar that will have live music every night. A new restaurant inside is open to the public. They hope that helps the numbers. It opened with only about 35 percent of the rooms full, but business is expected to pick up for the Fourth of July and Blue Angel weekend. They’re doing whatever they can to make sure summer profits won’t go like the lyrics: wastin’ away.

“We just want be part of whatever clean-up is going to be, we’ll be part of the recovery,” added Baldanza.

The hotel will likely be airing Buffett’s concert live, so for all of you who didn’t get tickets, that may be an option.

Some photos of the Margaritaville Beach Hotel area available at MargaritavilleHotel.com.

Margaritaville Hotel opens in Pensacola

From the Pensacola Business Journal: “Margaritaville Hotel opens on beach“. View photos from the opening here.

The Margaritaville Beach Hotel is open after a weekend of showing off for the developer’s family and friends.

Construction on the hotel at 165 Fort Pickens Road, former site of the Holiday Inn, started two years ago.

“It’s been a challenge, but anything can be done,” said Joe McCay, general manager.

The hotel is owned by Little Sabine Inc., whose chairwoman, Marilyn Hess, signed a franchise agreement with Jimmy Buffett’s Margaritaville two months ago.

The seven-story hotel has 162 rooms, some with Gulf-front views, plus two levels of underground parking. Rates are seasonal, ranging from $200 to $400 a night.

The Frank and Lola Loves Pensacola Café seats about 60 people inside and another 60 people on the veranda. Construction on an outdoor pavilion is scheduled to start next week and construction of a less-formal eatery, Margaritaville Café, is scheduled to begin in September.