A luxury resort in Florida is making an unusual move: keeping the NBA team at the property and using it to market its properties.
The Tybee Island Hotel, a luxury resort and convention center in Florida’s Keys, is in talks with the NBA to open a new arena in 2019, a person familiar with the negotiations said.
The deal is expected to be announced as soon as Thursday, according to the person, who spoke on the condition of anonymity because the negotiations are private.
The person said the deal is being discussed at a private dinner between Tybee and NBA President and CEO, Kevin O’Connor, who is also chairman of the Tybee Resort Group.
Tybee, which opened in 2014 and is home to a number of world-class resorts, is among the top five resort chains in the country, and the NBA has long been one of the top destinations for visitors to the resort.
Tyee, the NBA’s main franchise in the U.S., plays at the hotel for games and events.
In recent years, the franchise has been looking to build a new venue in Miami, a market that has been attracting crowds for the past several years.
Tybees move is in line with recent moves by other luxury resort chains to expand in Miami and other cities in search of a new home.
A few weeks ago, Marriott opened a hotel and convention facility in Miami for a reported $4 billion.
In December, Hyatt opened a brand new hotel in Fort Lauderdale, Fla., for a projected $1.2 billion.
A source familiar with Tybee’s plans said the company is interested in the NHL team, which will not be part of the deal.
It is not clear what the price of the NHL franchise would be.