'Margaritaville' Hotel And Resort Coming To Times Square

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.

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.

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