Jimmy Buffett’s fanbase is commonly referred to as Parrott Heads. The term was coined during a 1985 concert at the Timberwolf Amphitheatre in Cincinnati.
Buffett, not only a beloved musical performer but also a successful businessman, frequently hosted concerts in Cincinnati up until the time of his death this September.
Even though Buffett is no longer here to perform his music for his loyal legion of Parrott Heads, his legacy will live on in the Greater Cincinnati area through the highly anticipated Margaritaville Resort coming to Newport on the Levee.
In the heat of a contentious gubernatorial race, Kentucky Gov. Andy Beshear visited Newport today to tout the development and the role the state of Kentucky played in securing funding to get it across the finish line. Beshear, himself, might even be a little bit of a Parrott Head.
“A little known fact — I’ve attended not one, but two Jimmy Buffett concerts just across the river,” Beshear said.
Representatives from Margaritaville, Buffett’s hospitality company, and North American Properties, the holding company that owns Newport on the Levee, joined Beshear on the Levee to update the media on the project’s status.
“This area holds a special place in Margaritaville, so we look forward to opening our doors on the Ohio River,” Margaritaville Chief Operating Officer Tamara Baldanza-Dekker said in a press release. “The casual-luxe accommodations, instant escapism, and world-class hospitality synonymous with Margaritaville hotels and resorts will be the perfect addition to this welcoming community, picturesque skyline, and bustling destination.”
The Margaritaville Resort is set to be built in front of the Newport Aquarium in a vacant lot bordering 3rd Street.
As of now, no formal timeline has been released, although Beshear said he believed the project would take around “a year and a half” to build. Construction is estimated to be completed by fall 2026, according to a press release from the governor’s office.
The Margaritaville Hotel will be developed by Newport Hotel Associates LLC — a joint venture partnership between North American Properties, Stormont Hospitality Group and High Street Real Estate Partners.
The hotel will feature 264 rooms, multiple Margaritaville-branded food and bar concepts, a pool overlooking the Cincinnati skyline, retail spaces and more than 10,000 square feet of meeting and event space.
Additionally, the property is expected to create 282 new jobs — 187 full-time and 95 part-time.
In total, it’s projected to cost approximately $133.6 million. Newport Hotel Associates received preliminary approval on Sept. 20 from the Kentucky Tourism Development Finance Authority for incentives totaling nearly $33.4 million for the project.
The Kentucky Tourism Development Finance Authority preliminarily approved $33.4 million for the project on Sept. 20. The ruling now moves on to final approval. Through the Tourism Development Act, qualifying tourism development projects can recover approximately 25% of development costs through the recovery of sales tax generated by the development. Additional financing will come from a 3% surcharge on every retail transaction to help pay for the project and fund its marketing and sales efforts.
“In the words of Jimmy Buffett, take it all in,” Beshear said. “It’s as big as it seems. Count your blessings. Remember your dreams. Here in Kentucky, we got a lot of blessings to count. We got a lot of big dreams that we are realizing. With projects like Margaritaville, those dreams are becoming a reality.”
