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 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.
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 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.
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