A Miami investment firm that recently acquired the Lake of the Ozarks' popular Tan-Tara-A Resort has re-branded the resort as Margaritaville.
Built in 1962, Tan-Tar-A features 500 rooms on 1,150 miles of shoreline at the Lake of the Ozarks. Coral Gables, Florida- based Driftwood Acquisitions & Development (DAD) recently acquired the resort, according to a news release. Margaritaville Holdings, which operates a chain of restaurants and resorts whose theme is inspired by the Jimmy Buffett song, will re-brand the Osage Beach resort as a Margaritaville effective immediately.
Amenities at the resort include a 27-hole golf course; a 103-slip marina; eight food and drink venues; and tennis, basketball and beach volleyball courts. The resort also houses a 20,000-square-foot indoor water park and 91,000 square feet of event space.
DAD, with partner Sefira Capital, focuses on acquiring and developing commercial real estate. Driftwood Hospitality Management, a DAD sister company specializes in delivering a high return to investors.
"It's a dream come true for us to partner with Margaritaville, as we help to re-brand Tan-Tar-A and Flamingo Beach," DAD CEO Carlos Rodriguez said in the news release."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."
Driftwood, which manages 40 hotels, also announced the acquisition of a resort in Costa Rica Thursday. Together, both resorts will become Driftwood's 10th and 11th resorts.
Margaritaville has nine resorts across the southeastern United States and and the Caribbean. Another 20 resorts are being developed by the company. Margaritaville also has 60 Margaritaville and Jimmy Buffett branded restaurants.
The companies said in the news release that renovations to the resort will begin immediately and include a "full rehab" of all parts of the property to incorporate Margaritaville's "casual-luxe" design elements into the property. The resort will remain open throughout the renovation.