TPI Hospitality and Margaritaville Holdings Sign Agreement to Develop Margaritaville Resort in Fort Myers Beach

Ft. Myers Beach, Fla. – June 11, 2018 – TPI Hospitality and Margaritaville Holdings today announced they have entered into a partnership to develop a new 254-room Margaritaville Resort at the entrance to Fort Myers Beach, in the popular Times Square district. Designed with a clear focus on maintaining the authenticity and charm of the local area, the ‘casual-luxe’ resort will sit on seven acres of beachfront land, with direct access to the white sand beaches and stunning views of the Gulf of Mexico. The property will boast low-lying open-air buildings that protect neighboring views, a walkable assortment of signature Margaritaville food and beverage concepts, entertainment venues and more. Many of the buildings will be located on the bayside of Estero Blvd., which leaves a beachside with lush landscape and breathtaking Gulf panoramas.

“TPI has been working for three years with members of the local business community, as well as our friends and neighbors who are residents of Fort Myers Beach, to create a plan that truly embodies a shared vision for the future of this site,” said Tom Torgerson, chairman of TPI Hospitality. “We received valuable creative feedback along the way and we are excited with where the evolved plan has landed and looking forward to the future.  Our alignment with Margaritaville ensures this one-of-a-kind resort will perfectly embody the look, feel and charm of its island community.”

Featuring Margaritaville’s signature, island-inspired design elements, each guestroom at the new Margaritaville Resort in Fort Myers Beach will have a private balcony, most with Gulf views. The resort will serve up several signature Margaritaville food and beverage concepts, including a LandShark Beach Club with a 5 o’Clock Somewhere Bar & Grill, a beachside LandShark Bar & Grill, a Coconut Telegraph Coffee Shop on the pedestrian bridge over Estero Blvd. and a JWB Bar and Grill on the second level. This upscale, 100-seat beachside restaurant will have a glass-enclosed, air-conditioned dining room with panoramic views of the Gulf and feature a décor reminiscent of Estero and San Carlos Island’s rich history.

On the bay side of Estero Blvd. will be an elevated, 22,000 square foot License to Chill Terrace with unobstructed views of the Gulf. The resort lobby, meeting spaces and St. Somewhere Spa will open up to the Terrace with glass walls. This lushly landscaped Terrace will have a three-meal-a-day restaurant, along with intimate social gathering areas including fire pit seating, outdoor island games, hammocks and more. The Live Life Like a Song retail store, also located off the Terrace, will showcase a collection of Margaritaville products including apparel and footwear for men and women, home décor and more – making for an exciting addition to the downtown shopping area. Offering a perfect view of the sunset over the Gulf, the resort’s main ballroom will be 5,000 square feet clear span with glass walls that open up to the elevated Terrace.

“The Times Square section of Fort Myers is known for its great food, entertainment and fun – attributes that are synonymous with Margaritaville,” said John Cohlan, chief executive officer of Margaritaville. “With our signature lifestyle built on relaxation, escapism and good times – and TPI Hospitality’s solid experience in new resort developments – we feel we have a perfect partnership in place.  We look forward to working together with TPI to add a new depth to this area, while seamlessly enhancing all of

the character that already exists.”

More details will come in the coming weeks and months, with a planned opening slated for Q1 2021.

For more information on TPI Hospitality, visit www.TPI-FMB.com. For more information on Margaritaville, visit www.Margaritaville.com.

About TPI Hospitality

TPI Hospitality, after three generations of family ownership, became 100% Employee Owned in January 2015.  TPI will develop, own and operate the Margaritaville Resort.

About Margaritaville

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.

Margaritaville features 12 lodging locations with more than 20 additional projects in the pipeline, four gaming properties and over 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. More than 20 million travelers every year change their latitude and attitude with a visit to a Margaritaville resort, residential real estate destination, vacation club, vacation home rental or restaurant.

Consumers can also escape everyday through a collection of Margaritaville lifestyle products including apparel, footwear, frozen concoction makers, home décor and more. Additionally, the brand’s food, beverage and spirits lines – including Margaritaville tequilas, rums, LandShark Lager and a new bestselling cookbook – deliver authentic, tropical escapism to fans around the world. Margaritaville, a state of mind since 1977.