Margaritaville Holdings and Driftwood Acquisitions & Development Rebranding Tan-Tar-A Resort in Central Missouri and Flamingo Beach Resort & Spa in Costa Rica
ORLANDO, FL. July 17, 2017 - Margaritaville Holdings and Driftwood Acquisitions & Development (DAD) today announced the rebranding of two high-profile resorts in the U.S. and Costa Rica. Tan-Tar-A Resort in Central Missouri and Flamingo Beach Resort & Spa in Costa Rica will join Margaritaville's rapidly expanding portfolio of hotels and resorts, effective immediately.
"We are thrilled to combine the fun and escapism of our brand with these iconic locations, and provide additional opportunities for our guests to relax and have a great time, which is what we are all about," said John Cohlan, chief executive officer of Margaritaville.
Flamingo Beach Resort & Spa in Guanacaste, Costa Rica Surrounded by the white sand beaches of Flamingo Beach on the northern Pacific Coast of Costa Rica, Flamingo Beach Resort & Spa is an oceanfront paradise nestled in tropical splendor. The resort offers 120 spacious guestrooms and suites, along with a full range of activities for eco-tourists, families, couples and more. In addition to its location on the Blue Flag-certified ecological Flamingo Beach, the property boasts a large main pool with a swim-up bar, an oceanfront restaurant and lounge, a family center, watersports, a spa, a tennis court and a fitness center. Social event and corporate meeting facilities are also available, including an intimate, private venue overlooking the ocean. Nearby activities range from scuba diving and deep-sea fishing to jungle canopy tours and day trips to the famous Arenal Volcano.
Tan-Tar-A Resort in Osage Beach, Missouri
Tan-Tar-A Resort is a 500-room lakefront property spread across 1,150 miles of shoreline on Lake of the Ozarks, perfectly positioned to transport guests into Margaritaville's vacation state of mind. Amenities include 27-holes of golf across two courses, a 103-slip marina, eight food and beverage venues, a full-service spa and salon, a fitness center, horseback and pony riding, and numerous sports facilities including tennis, basketball and beach volleyball courts. Indoor and outdoor pools are located throughout the property, as well as a 20,000 square-foot indoor waterpark. A premier destination for corporate meetings, incentive retreats and social functions, the resort is home to more than 91,000 square feet of event space. For those looking to say "I Do," an on-site wedding chapel is also available.
Tan-Tar-A was recently acquired by DAD - a privately held investment firm specializing in the acquisition and development of hotel assets - with JV partner Sefira Capital, a Miami-based investment boutique platform that focuses on acquiring and developing commercial real estate. An affiliate entity of DAD, Flamingo Beach Resort & Spa has been owned by Costa Rica-based Hotelera Playa Flamingo SA and managed by Driftwood Hospitality Management (DHM) since 2003.
A sister company of DHM, DAD has created a unique business model to deliver high-yielding institutional quality hotel investments to accredited investors. A portion of the equity of Tan-Tar-A will now be syndicated via DAD's investment platform. DAD will assist Margaritaville with the rebranding efforts for both properties.
"It's a dream come true for us to partner with Margaritaville, as we help to rebrand Tan-Tar-A and Flamingo Beach," said Carlos Rodriguez, chief executive officer of DAD. "The Tan-Tar-A acquisition has helped us reach our 2017 growth goal already, just halfway through the year, and Flamingo Beach has been near and dear to my heart for a very long time. We're excited to get underway, working together with the Margaritaville team to help travelers create unforgettable memories in the Midwest and Costa Rica."
Renovations are expected to commence immediately and will touch all facets of the properties, incorporating Margaritaville's signature 'casual-luxe' design elements. The properties will remain open during the phased conversion, with Margaritaville and DAD providing support to the resort teams.
For more information on DAD, please visit www.dadlp.com.
Margaritaville has become America's leading lifestyle escapism brand. Inspired by the lyrics and lifestyle of singer, songwriter and author, Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation. Margaritaville features nine destination resorts/hotels across the Southeast United States and Caribbean and twenty additional locations in active development, four gaming locations and more than 60 food and beverage locations including signature concepts such as Margaritaville Restaurant, award-winning JWB Prime Steak and Seafood, 5 o'Clock Somewhere Bar & Grill and LandShark Bar & Grill. More than 15 million travelers every year change their latitude and attitude with a visit to a Margaritaville resort, residential real estate destination, vacation club, vacation home rental and restaurant. Consumers can also escape everyday through a collection of Margaritaville lifestyle products including apparel for men and women, footwear, frozen concoction makers, home decor and more. Additionally, the brand's food, beverage and spirits lines - including Margaritaville tequilas, rums, LandShark Lager and Island Tea - deliver authentic, tropical escapism to fans around the world. Margaritaville, a state of mind since 1977.
About Driftwood Acquisitions & Development
DAD is a Miami, Florida-based company with a first-of-its-kind business model, providing the perfect vehicle for accredited investors to co-invest in institutional quality cash flowing hotel assets. The company finds and quickly acquires the best opportunities in the U.S. hotel market with its own capital. Once these hotels are secured and under management, DAD opens each asset to individual clients to participate, allowing the investor to build his or her own portfolio rather than investing in traditional blind pools. This eliminates risk factors and uncertainty, providing an innovative vehicle to strategically invest in hotel opportunities. In addition to this acquisitions business model, DAD is a reputable leader in the EB-5 Investor program, a government initiative to attract foreign investment to create jobs in the U.S. Through this program, DAD has helped foreign investors get their U.S. residency and created hundreds of jobs in South Florida by developing EB-5 qualified hotels. Since launching in 2015, DAD has seen continued solid growth. The company's portfolio today totals eleven acquisitions and four new-build developments, with a pipeline of many other diverse hotel and resort properties across the United States.
About Driftwood Hospitality Management
DHM currently manages approximately 40 hotels with more than 8,000 rooms throughout the United States and Costa Rica. The portfolio includes a broad cross-section of branded hotels ranging from large full-service to mid-size, extended stay and limited-service properties, as well as independent hotels, boutiques and resorts. The members of the company's senior management team have an average of 20 years of experience in all segments of the lodging industry and have proven highly successful in the development of new hotels and hotel takeovers, as well as the re-positioning and optimization of hotel operations.