LAKE OF THE OZARKS, Mo. (KMOX) – Tan-Tar-A, a huge property at the Lake of the Ozarks, has been sold and will be rebranded as “Margaritaville.”

Tan-Tar-A was recently bought by Driftwood Acquisitions & Development (DAD), a private investment firm that specializes in hotel acquisition, with joint venture partner Sefira Capital, a Miami-based investment boutique. The sale was announced Thursday.

Lake business owner Casey Van Allen isn’t surprised.

“This is really just another growth spurt from the outgrowth of USA Today’s designation as the best recreational, the number one recreational lake in the country,” Allen says.

He says they have seen the result of that in boat, real estate and condo sales. He adds they’ve also seen it in all aspects our tourism at the Lake of the Ozarks.

The 500-room lakefront property will remain open, but expect to see changes to the different amenities right away.

The resort also has two golf courses, a 103-slip marina, eight food and beverage venues and 91,000 square feet of event space. The resort will remain open while the property is renovated.

Margaritaville is a fast-rising “escapism” brand in the U.S., inspired by the lyrics and lifestyle of singer/songwriter Jimmy Buffett.

(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

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