$150 Million Luxury Hotel Could Come To Ocean City Boardwalk

OCEAN CITY, NJ — A huge, $150 million luxury hotel could soon be coming to the Ocean City Boardwalk.

Local developer Eustace Mita, chairman and CEO of Icona Hotels and CEO of Achristavest Developers, outlined a proposal for "Icona Ocean City" at a recent City Council meeting.

The hotel would be located between 5th and 6th streets on the Boardwalk, next to Wonderland Pier and behind the Ocean City High School. The land is currently owned by the city.

Mita, who also is co-owner of Wonderland Pier with Mayor Jay Gillian, said that the proposed hotel would be reminiscent of the grand hotels from the old days of the Jersey Shore. A classic look would last generations, said Mita's attorney Stephen Nehmad.

It would fit in with the architecture like City Hall and Music Pier, the project's architect said.

The hotel would also have upscale retail and amenities such as a swimming pool.

There hasn't been a new hotel in Ocean City in more than 50 years, Mita said, as many former hotels have been transformed into condominiums.

Mita said that the hotel would benefit Ocean City by bringing more guests in the off-season. It would give an anchor to that side of the Boardwalk, he added.

Also, it would be the "highest taxpayer by a wide margin in Ocean City," Mita said, bringing millions in tax revenue.

In 2022, high rise hotels were a major topic in the mayoral election. Both candidates, Gillian and then-Councilman Keith Hartzell, voiced opposition to building high rise hotels on the Boardwalk.

Mita also recently unsuccessfully attempted to purchase the historic bank building in downtown Ocean City to turn it into a hotel.

No timeline was shared on the hotel. The city would need to sell the land and the Zoning Board would need to approve it as a zoning change is needed, along with other approvals.