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Times Square Will Soon Be Wastin' Away In Margaritaville

Rendering of the Landshark Bar & Grill at the planned Margaritaville Hotel in Times Square

Times Square is not known for its laid-back vibes, but a new hotel will attempt to inject one of the world's most touristy spots with a beach bum attitude and some sugary cocktails.

A 234-room, 29-story Margaritaville Resort is planned to open in Times Square, at 560 Seventh Ave., in 2020. Margaritaville Holdings reached a deal to bring the hotel to the property once slated for a Dream Hotel.

The resort, which is expected to cost $300M, will have several Margaritaville-themed bars and restaurants, including a rooftop Landshark Bar & Grill, a pool and ground-floor retail space. The hotel aims to "bring an authentic 'no worries' vibe" with "signature 'casual-luxe' design elements," according to Margaritaville's announcement.

The property is owned by Sharif El-Gamal's Soho Properties and will be developed by Soho in partnership with Chip and Andrew Weiss and MHP Real Estate Services

"We are thrilled to collaborate with one of the world's most beloved brands and bring New York's first Margaritaville to Times Square, where it will undoubtedly be a top destination for visitors and NYC residents alike," El-Gamal said in a statement.