Struggles in the hospitality sector caused by the coronavirus pandemic aren’t stopping Margaritaville from opening a new location in New York City.
“We're just very excited to bring the Margaritaville lifestyle to the island of Manhattan. People forget it's an island,” CEO John Cohlan told FOX Business Network's “Cavuto: Coast to Coast” Wednesday.
Located in Times Square, the new resort hopes to offer “a sense of escapism” from the hustle and bustle of the big city, Cohlan explained.
The Margaritaville Resort Times Square has 234 guest rooms and boasts features that inlcude an outdoor heated pool, soundproof windows, laundry/valet service and a fitness center, according to the resort’s website.
While some hotels have had to pause expansions or even close locations due to a pandemic-induced decline in travel, Margaritaville chose to go ahead with the new resort.
In September, the American Hotel & Lodging Association (AHLA) underscored the hospitality industry's troubles by reporting that 68% of hotels had less than half of their pre-crisis staff working full time.
“I wish I could say we were prescient enough to know that the vaccine would arrive, but sometimes it's better to have that good fortune and be lucky,” Cohlan told host Neil Cavuto. “Our sense is that the coast is clearing now. And in the world of Margaritaville, we look at our glass half-full and optimism really is a big part of the DNA of what we do.”
The CEO acknowledged that the Big Apple doesn’t necessarily align with the brand’s tropical island look, but still expects the launch to be a success.
“Some of our most successful properties are not at the beach, [they're] in the Smoky Mountains, at lakes,” he said. “We just think that to be able to walk into an environment that’s relaxing, [and provides] a sense of escapism after having had an exciting day in Times Square and New York will be very attractive to people.”
Margaritaville Resort Times Square is scheduled to open in Spring 2021 and is currently taking reservations.
FOX Business’ Daniella Genovese contributed to this article.