Diamondrock Debuts Margaritaville Beach House Key West
DiamondRock Hospitality Company announced the grand opening of its Margaritaville Beach House Key West following a $3.5 million investment to bring the full Margaritaville experience to life along Key West's largest beach. The rebranded and upgraded resort features Tin Cup Chalice Bar & Chill, a spirited poolside restaurant and bar concept, an expansive retail outlet and popular family-friendly amenities.
The oceanfront resort offers 186 spacious suites, a lagoon-style pool, and lounging hammocks throughout the grounds. Exclusive amenities include poolside entertainment, daily refreshments, a 24-hour fitness center, kids' activities, lawn games, and easy access to beachfront fun. The resort also boasts indoor banquet space and lush, tropical gardens and courtyards, complete with a 1,500-square-foot event Tiki for smaller meetings, intimate weddings, and events.
"We are excited to begin our new relationship with Margaritaville at our Key West resort," said Mark W. Brugger, President and Chief Executive Officer of DiamondRock Hospitality Company. "Margaritaville is synonymous with Key West and a leading leisure hotel brand that we expect will drive incremental demand to our resort and significantly enhance financial performance."
DiamondRock acquired the property for $94 million in 2015 and converted the Marriott-branded resort to the independent Barbary Beach House Key West in late 2019 following an extensive renovation of the guestrooms and common areas. The Company projects its incremental $3.5 million investment to transform the resort into the Margaritaville Beach House Key West will generate over an 80% return for shareholders. The resort is expected to generate nearly $14 million of EBITDA in 2021.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
