On Sep. 20, Gov. Andy Beshear announced that a Margaritaville Hotel Resort is coming to northern Kentucky.
According to a statement from Beshear, Newport Hotel Associates plans to establish a new Margaritaville Hotel Resort in Newport by fall 2026. The hotel is estimated to cost $133.6 million.
“We just celebrated our best year on record for Kentucky tourism in 2022, and with exciting projects like Margaritaville being announced, we know this success will only continue,” Beshear said.
The resort is projected to create 282 jobs – 187 full-time and 95 part-time. Beshear believes it will provide an economic boost to northern Kentucky.
The hotel will feature 264 rooms and restaurants including JWB Grill, License to Chill Bar, and a 12th-floor Five O’Clock Somewhere Bar & Grill overlooking downtown Cincinnati. There will also be spaces available for retail, meetings, and events, complete with rooftop options.
The resort will be a part of Newport on the Levee, a commercial complex along the Ohio River.
Margaritaville is named after a song by American singer-songwriter Jimmy Buffett, who owned the trademark for the name. In 1985, Buffett licensed the name to a developer in Key West, Florida, who created the first Margaritaville hotel. Complimentary establishments were created alongside the hotel, including Five O’Clock Somewhere Bar, which is named after a song by Buffett and Alan Jackson.
The official Margaritaville website lists 29 resorts around the world in 2023, with locations across the US as well as in countries like Mexico, Belize, and Costa Rica. At least seven more locations are coming soon.
Newport Hotel Associates is a joint venture partnership between real estate developer North American Properties, hotel developer Stormont Hospitality Group, and investment firm High Street Real Estate Partners.
“We are appreciative of both the city of Newport and the commonwealth for providing the leadership and support necessary to bring this vision to reality,” Jim Stormont, president of Stormont Hospitality Group, said in a statement. “We look forward to continuing this partnership as we work to complete this exciting project, which will create significant economic impacts throughout the region for years to come.”
On Sep. 20, Newport Hotel Associates received preliminary approval from the Kentucky Tourism Development Finance Authority for $33.4 million in tax incentives. The group is now awaiting final approval. “Kentuckians searching for their lost shakers of salt won’t have to travel far with the opening of the Margaritaville Hotel Resort in Newport,” Tourism, Arts and Heritage Cabinet Secretary Lindy Casebier said in a statement. “Travelers from within the state and beyond will undoubtedly flock to this entertainment-filled resort. Our cabinet is proud to support this tourism development project.”