Jimmy Buffett was in St. Thomas on Friday to unveil plans for the first Margaritaville Vacation Club.

Buffett is partnering with Wyndham to open the 262-unit resort, located at the former Renaissance Grand Beach Resort in Smith Bay on St. Thomas.

The hotel property has been abandoned for years, and Wyndham plans to invest $90 million to transform it into the flagship Margaritaville Vacation Club by Wyndham property.

Friday’s reception took place at Penga, the Point Pleasant Resort restaurant that overlooks the site of the new Margaritaville resort.

Kicking off his flip-flops, Buffett picked up his guitar and sang three songs – “Boat Drinks,” which he said was inspired by a trip to St. Thomas; “Volcano”; and, of course, “Margaritaville” – to the small crowd as the sun began to set over Water Bay.

Buffett came to St. Thomas on his first sailboat in 1972, a boat he bought with the money he made from his first album. He lived on his boat at the old Sheraton Marina off and on for about a year, playing gigs in the area and making friends.

When the opportunity to bring his Margaritaville brand to the Virgin Islands arose, Buffet said, he jumped at the chance, seeing it as a perfect fit.

Buffett said the brand is about a lifestyle, and a way to connect with his fans – also known as “parrot heads.”

“We sell escapism,” he said. “They’ve been escaping through our music for so long, this is a real place on the beach, Margaritaville. It’s about appealing to the people who’ve been fans for so long.”

Buffett said he plans to buy the first four timeshare units at the resort so his musicians and crew can rotate through. Music will be a big part of the resort, with live acts playing regularly – maybe even Buffett himself.

Buffett currently lives on St. Barths and pilots his own seaplane, which he said would be very easy to land in Water Bay.

“You never know when I’m going to show up,” Buffett said, referring to the future resort.

Construction on the resort will begin in July. The first phase – which includes the main administration buildings, restaurant, common areas and the units by the pool – will take about 18 months to complete.

Read the full article.

Soon you’ll be able to stay at Margaritaville next time you’re in St. Thomas, USVI:

The former Renaissance Grand Beach Resort property has been boarded up for years, but Wyndham announced this week that it will soon be given new life as a Jimmy Buffett’s Margaritaville resort.

Wyndham made the announcement at its quarterly earnings call Wednesday.

Wyndham Worldwide Corporation Chairman and Chief Executive Officer Steve Holmes said Wyndham is excited about partnering with Buffett as a way to grow the timeshare division of the company.

This won’t be the only new Margaritaville resort coming:

We’re very excited to announce that Margaritaville has entered into a partnership with Wyndham Vacation Ownership, the world’s largest vacation ownership company, to create Margaritaville Vacation Club by Wyndham. Wyndham will develop Margaritaville resorts, starting with the conversion of a 34-acre property in St. Thomas, slated to begin later this year. Stay tuned for updates!

What locale would you like to see a Margaritaville resort?

(hat tip Michael B)

The developer of the Margaritaville Hollywood Beach Resort is way behind in financing according to an article in the Orlando Sentinel:

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.

Tabatchnik had hoped to get the money through a program that gives foreign investors residency in the United States if they invest at least $500,000 each in job-creating projects.

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.

“We’re not alarmed by this,” Assistant City Manager Cathy Swanson-Rivenbark said. “We absolutely know he is feverishly working on this.”

Despite “the unforeseen hurdles,” Tabatchnik said he is not discouraged.

“We’re in the process of negotiating and finalizing the terms of our financing arrangements. We’re very close,” he said. “We’ll get them accomplished and we’ll get this project built.”

City officials say Tabatchnik wants to borrow at least $75 million from banks, but hotel analysts say banks are tight with credit for new hotels since the financial crisis in 2008.

“I think it’s going to be awfully tough. Banks are typically looking for at least 35 percent to 40 percent real equity,” said hotel analyst Scott Brush, of Brush & Co. in Miami.

The CRA already committed to lend Tabatchnik $10 million for furnishings at the resort when it is built. Tabatchnik is asking the agency to increase the loan by $15 million and provide it sooner so he can build.

The city is studying the proposal, Swanson-Rivenbark said.

Read the full story here.

Developers of the new Margaritaville Beach Resort in Hollywood, Florida have released renderings of the $130 million project that is slated to open in 2014.

The $130-million dollar resort will be located at Johnson Street on the Broadwalk and across A1A on the Intracoastal Waterway.

The resort will be 17 stories and have 349 rooms, along with seven restaurants, several bars, a spa, and retail shops. There’s also a lagoon pool which features a water slide and a “Flo Rider” used to simulate surfing which will be open to the public.

Take a look:

The Miami Herald has an update on the Margaritaville Beach Resort under construction in Hollywood, Florida:

Margaritaville Beach Resort may not be open yet, but it’s already hosting a party.

On Thursday, nearly 500 travel gurus will get down Margaritaville-style as part of the Florida Huddle, a signature travel symposium, which draws travel experts from places including Canada, Scandinavia and Germany.

“It’s sort of our coming out party,” said Lon Tabatchnick, the developer of the beach-themed resort.

And though there will be no building or hammocks by the pool, there will be a giant tent, island-themed décor and probably a few shakers of salt.

“What better way is there to get people excited about the future?” he said.

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.”

Read the full article here.

The $131 million project is expected to open in August 2014.