Margaritaville Hotel May Open In Times Square, Report Says

MIDTOWN MANHATTAN, NY — Break out your board shorts and Hawaiian shirts, Margaritaville may be coming to New York City. The Jimmy Buffett-themed hotel and restaurant chain is in talks with real estate developers to open a nearly 30-story hotel in Times Square, real estate publication The Real Deal first reported.

The Margaritaville hotel resort would occupy a site owned by a group of developers led by Soho Properties on Seventh Avenue and West 40th Street, the Real Deal reported. Development firm The Related Companies is prepared to provide a $180 million loan to help construct the hotel, which would reportedly be 29 stories and house 243 hotel rooms, according to the report.

Margaritaville hotels and restaurants are operated by Jimmy Buffett's Margaritaville Holdings LLC, according to Bloomberg. Margaritaville Holdings LLC was incorporated in 1997 and is a subsidiary of Cheeseburger Holding Company, LLC, according to the Bloomberg business profile.

The hotels and restaurants are known for their tropical themes and reflect the laid-back attitude of Buffett's music. The "It's Five O'Clock Somewhere," and "Cheeseburger in Paradise" singer currently owns nine Margaritaville resorts, which are located in Florida, Tennessee, Louisiana, Mississippi and the Cayman Islands.

Read the full Real Deal report here.

Photo by Rich Polk/Getty Images Entertainment/Getty Images