US: The first COMPASS boutique hotel by Margaritaville Hotels and Resorts is being developed by Floridays Development Company on Anna Maria Sound, Florida.
Compass is a new upscale boutique select-service hotel brand.
“Over the last 40 years, Margaritaville has evolved from a song about paradise into a dynamic business capturing the attention of millions of consumers around the world,” said John Cohlan, chief executive officer of Margaritaville Holdings. “COMPASS by Margaritaville Hotels and Resorts presents a compelling competitive advantage to developers, giving them the unique opportunity to leverage the power of our time-tested lifestyle brand in the thriving boutique select-service space.”
Margaritaville spent the last year conducting extensive customer research and market analysis in order to create Compass. The outcome is a fresh new design concept and prototype – a distinctive five storey, 131-room, 83,000 interior square foot building sitting on approximately three acres of land. COMPASS by Margaritaville Hotels and Resorts will offer specific standards to guide developers, while allowing for a flexible design reflecting each property’s local surroundings and unique architectural or site plan needs.
COMPASS by Margaritaville Hotels and Resorts is a model that works for new-builds, adaptive reuse buildings, mixed-use concepts and conversions.
“Our focus is to ensure the cost to construct a COMPASS by Margaritaville Hotels and Resorts property is comparable to other upscale select-service hotels while offering a fun, locally inspired lifestyle experience in a boutique setting,” said Rick Cunningham, vice president of hotel development at Margaritaville Holdings. “With our tremendous brand awareness and the owner-friendly design concept, we see a remarkable opportunity to rapidly grow the brand across the US, with short-term target markets throughout the Southeast and mid-Atlantic.”
The first COMPASS by Margaritaville Hotels and Resorts is being developed by Floridays Development Company on Anna Maria Sound, Florida. The property will be adjacent to Minto Communities’ existing One Particular Harbour marina and luxury condo development. Anna Maria Island and Sound is a gulf coast leisure destination with marina and beach access to the Gulf of Mexico. Multiple additional projects are under consideration with development groups in the Southeast and Mid-Atlantic.