- 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...
Posted In:
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
