- Island lifestyle brand Tommy Bahama, a subsidiary of Oxford Industries Inc OXM, is planning to debut a new resort concept with the launch of Tommy Bahama Miramonte Resort & Spa in California.
- The first Tommy Bahama resort will debut in late 2023.
- The brand is partnering with Lowe, a national commercial and hospitality real estate investor and operator, to execute and present the Tommy Bahama Miramonte Resort & Spa.
- CoralTree Hospitality, a wholly owned subsidiary of Lowe, will continue to manage the property, with Oxford Industries making a minority equity investment in the project.
- Tommy Bahama also believes in the potential of more such resorts in future.
- Price Action: OXM shares are trading higher by 3.31% at $110.43 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
