RREAF Holdings and Innisfree Hotels Join Forces for a New $110 Million Margaritaville Resort in Galveston, Texas

In a significant boost to the leisure and tourism sector in Texas, RREAF Holdings, a renowned real estate development firm, has joined hands with Innisfree Hotels to establish a sprawling new Margaritaville resort in Galveston, Texas. This ambitious project, with an estimated investment of $110 million, is set to break ground in early 2024 and is poised to become a cornerstone in Galveston’s hospitality landscape.

Spanning a massive 300,000 square feet, this beachfront property will stand as one of the largest developments in eastern Galveston. The resort will boast 334 elegantly designed rooms and an array of enticing amenities. A highlight is the 2.5-acre elevated water park, offering stunning views of the beach. The resort will also feature four dining establishments, a spacious ballroom, and direct access to the beach, providing an ideal blend of luxury and convenience.

Adding to the allure, the Margaritaville resort will offer unique facilities such as pickleball courts, a family entertainment center, and a lazy river. Adults can unwind at the exclusive adult pool, and everyone can enjoy the signature Margaritaville food and beverage experiences.

Kip Sowden, CEO of RREAF Holdings, emphasizes the potential of the Galveston market, citing its robust economic growth and the influx of people moving to Texas in recent years. “We’re proud to collaborate with esteemed partners like Innisfree Hotels and Margaritaville to deliver a top-tier, amenity-rich experience in this promising hospitality asset,” Sowden stated.

Galveston has experienced a remarkable economic upswing, welcoming over 8 million visitors in 2022, a 25% increase from the previous year. This trend is expected to continue, bolstered by the ongoing growth of the Houston metro area. Galveston’s status as a leading cruise port and a popular drive-to leisure destination for Texans further enhances its appeal.

Carl Schwab, President of RREAF Development Services, praised the City of Galveston’s cooperation and expressed enthusiasm for the project’s progression. Ted Ent, President and CEO of Innisfree Hotels, highlighted the successful partnership with RREAF Holdings, marking this project as their fifth joint venture and ninth beachfront hotel collaboration.

Jim Wiseman, President of Development at Margaritaville, shared his vision of expanding Margaritaville’s footprint across Texas, stating, “In Texas, every road leads to a new adventure. This resort, along with our upcoming lodging destinations, represents our commitment to bringing fun, escapism, and our iconic state of mind to more locations.”

This partnership between RREAF Holdings and Innisfree Hotels to develop the new Margaritaville resort in Galveston marks a significant milestone in Texas’s hospitality industry, promising to offer a unique and luxurious experience for visitors and residents alike.