'Margaritaville' Hotel And Resort Coming To Times Square

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NEW YORK (CBSNewYork) - Wastin' away again... in the crossroads of the world?

Parrotheads rejoice: As though "Margaritaville" the musical wasn't enough, a new Margaritaville Resort is bound for Times Square.

A rendering of the planned Margaritaville resort set for Times Square (credit: The McBride Company)

The $300 million resort is set to open in 2020 and will be located at Seventh Avenue and 40th Street. It'll have more than 200 rooms.

A rendering of the planned Margaritaville resort set for Times Square (credit: The McBride Company)

The developers say the resort will bring "an authentic 'no worries' vibe to the city that never sleeps."