- Island lifestyle brand Tommy Bahama, a subsidiary of Oxford Industries Inc (NYSE: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.
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