The existing property will be renovated and converted for an estimated $35 million. It will feature 462 casita-style single-story guest rooms, waterfront views with a mile of beachfront, Margaritaville food and beverage concepts, new recreational activities and family-friendly amenities.
Margaritaville is a global lifestyle brand inspired by the lyrics and lifestyle of singer, songwriter and best-selling author Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation.
Davidson Hotels & Resorts will operate the property as Paradise Point Resort & Spa until the hotel is reflagged, and will continue to manage the property following the completion of the renovation and rebranding.
Those improvements will add to the resort’s 80,000 square feet of meeting space, marina, spa, tennis courts and a fitness center, as well as the property’s five pools. Public spaces will be updated to reflect Margaritaville’s “no worries” lifestyle.
“We are excited to announce this exciting affiliation with Margaritaville at our Paradise Point Resort & Spa,” said Jon E. Bortz, chairman, president and CEO of Pebblebrook Hotel Trust. “Our island resort offers a unique San Diego beach experience in a secluded, yet centrally situated location to nearby attractions.
“Following an extensive evaluation of numerous alternatives, we selected Margaritaville because we believe it is the perfect fit for Paradise Point. The Margaritaville lifestyle brand is synonymous with fun and escapism, as is our property, and we expect a dramatic improvement in financial performance of Paradise Point upon reflagging, consistent with other Margaritaville branded resorts.”
Bortz noted the takeover of Paradise Point “marks Margaritaville's first West Coast property, which will allow our resort to target the loyal West Coast followers of the growing globally recognized Margaritaville brand.”
“Margaritaville is about relaxation, fun, great food, entertainment and creating memorable experiences,” said John Cohlan, Margaritaville CEO. “We look forward to sharing our way of life with visitors to this unique island paradise in San Diego.”
Pebblebrook Hotel Trust acquired Paradise Point in 2018. Pebblebrook will assist with the transition along with the resort’s current management company, Davidson Hotels & Resorts.
Margaritaville features 18 lodging locations and 24 additional projects in the pipeline with nearly half under construction, two gaming properties and more than 60 food and beverage venues including signature concepts such as Margaritaville Restaurant, award-winning JWB Prime Steak and Seafood, 5 o’Clock Somewhere Bar & Grill and LandShark Bar & Grill.
A year ago, the 44-acre Paradise Point launched a $24 million renovation, designed by the award-winning international firm Perkins + Will. The makeover remodeled all of the resort’s 462 California bungalow-style guest rooms and included new tile floors and quartz surfaces, updated bathrooms with walk-in showers, new coastal decor furnishings and the latest technology from USB ports to 60-inch high-def TVs.
In 1542, Mission Bay was discovered by Portuguese explorer Juan Rodrigues Cabrillo, who named the area Bahia Falza or "False Bay,” because it was not deep enough for ships.
In 1902, city horticulture commissioner George Hall first suggested the Bahia Falza “swamp” be developed into an aquatic park. In 1958, a master plan for the Mission Bay Aquatic Park was approved by the City Council and dredging soon followed.
The $60 million project created 30 miles of shoreline beaches, grassy knolls, areas for sailing, swimming, picnicking, powerboats, fishing, water skiing, Fiesta Island and Vacation Isle.
In 1962, recognizing the waterfront property’s potential, Jack Skirball, a rabbi-turned-Hollywood producer-turned real estate developer/hotelier, collaborated with architect Eldridge Spencer and builder Bob Golden to create Paradise Point. It was a unique vacation location insulated, but not isolated, from the city.