Wyndham Worldwide's timeshare division and Jimmy Buffett's Margaritaville Hospitality Group are redeveloping what was St. Thomas's Grand Beach Palace Resort into what will be the first property under the Margaritaville Vacation Club brand.
Wyndham St. Thomas, a Margaritaville Vacation Club resort, will start its three-year renovation process this summer and will start its reopening process in late 2014. Wyndham Vacation Ownership and Margaritaville will convert the 25-acre property's 290 rooms into 262 condo-style timeshare units. Located on the northeast side of St. Thomas in the U.S. Virgin Islands, the property sits on 1,000 feet of beachfront.
Orlando-based Margaritaville Hospitality Group, whose title stems from the 1977 Buffett classic about lost shakers of salt, has a dozen cafes spanning from Key West to Arizona. One Margaritaville-branded hotel opened in Pensacola, Fla., in 2010, while another is slated to open in Bossier City, just east of Shreveport, La., this summer.
Last year, Wyndham Vacation Ownership, which accounts for about half of Wyndham Worldwide's annual revenue, boosted revenue by 13% to $2.27 billion.
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