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Buffett Vying for Hollywood Beach Plot

March 4th, 2010

Jimmy Buffett is going up against Bruce Willis and Sylvester Stallone… in business. On Thursday, Hollywood, Florida (near Miami) will hear competing proposals from Margaritaville and Planet Hollywood for a plot of land on the boardwalk. Both pitches include a hotel, which would be a first for Buffett and Margaritaville Enterprises.

The Miami Herald has more:

John Cohlan, CEO of Margaritaville Enterprises in Palm Beach, said the beachfront location and Hollywood’s no-fuss vibe makes it a good fit for the brand’s first hotel.

“This is a very authentic beach town,” he said. “That’s what Margaritaville is about.”

Plans show a tiki bar wrapped around a seaplane and a sailboat by the pool, as well as an amphitheater with free concerts arranged by the Margaritaville staff.

Margaritaville Hollywood Beach also predicts it will command rates about 15 percent higher than what the top hotels in Fort Lauderdale and Hollywood charge.

“There are certain revenue streams Margaritaville brings to the project,” said Tabatchnick, refering to Buffet-themed shops, restaurants and bars expected to bring in day visitors. “A regularly flagged hotel would not be successful there.”

But the Planet Hollywood team rejects the Buffett boost as a tall tropical tale.

“At the end of the day, Margaritaville is a bar,” said Koslow. “What’s so special about a bar?”

A city panel will hear presentations from both developers Thursday in City Hall starting at 9 a.m. While no stars are expected for the selection panel, Koslow suggested Planet Hollywood would deploy some celebrity muscle for the final vote before city commissioners next month.

“It will be a classic Planet Hollywood presentation,” he said. “If you know the name . . . and the people involved in starting it, you’ll get an idea.”

Read the full article here.

Tagged in Business Empire, Margaritaville Cafes