Floridays Development is leading a team to deliver a new Compass Hotel by Margaritaville, a four-story, 120-key hospitality project planned for 120 Bayview Drive in Tampa. According to reporting from the Tampa Bay Business Journal, the property will be developed as a waterfront hotel and will incorporate the existing Evie’s at Spanish Point restaurant and tiki bar into the overall concept.
The development timeline calls for construction to begin within the next 45 days, with an anticipated 15-month build-out. Based on that schedule, the hotel could be in a position to open sometime next fall, subject to construction progress and any permitting or scheduling factors not detailed in the report.
Compass Hotels by Margaritaville are described as upscale boutique properties that sit within the broader Jimmy Buffett Margaritaville family of hotels and resorts. Compared with the larger full-service Margaritaville-branded destinations, Compass Hotels are typically smaller in scale and offer a more limited range of food and beverage options.
Plans for the Tampa project call for an activated ground floor featuring a bar and dining area to support both guests and local patrons. The program will also include a banquet space measuring just under 2,000 square feet, positioning the hotel to host meetings, social gatherings, and small events alongside its core lodging offering.
Stellar Sarasota has been selected as the general contractor for the development. Miles Beach of Miles architecture group is serving as the architect of record, providing design services for the new-build hotel and its integration with the existing restaurant and tiki bar on the site.
The project adds another Margaritaville-affiliated flag to the region, with Floridays Development coordinating the delivery of the Compass-branded property and a local construction and design team executing the build-out. No additional financial details, ownership structure information, or brand operating arrangements were disclosed in the available report.
