03/20/2013 03:31 pm ET

Jimmy Buffett St. Thomas Resort Planned With Wyndham Hotels

Jimmy Buffett has sailed quite a way from the flip-flop-wearing beach bum who was wasting away in Margaritaville.

Quite the businessman now, the singer/songwriter is yet again expanding his brand.

His website announces that Buffett is planning to open a timeshare resort in partnership with the Wyndham brand. It will be on the site of the former Renaissance Grand Beach Resort on Smith Bay.

Buffett and Wyndham Vacation Ownership President and Chief Executive Officer Franz Hanning announced the 262-unit resort, which is due to begin construction in July. First units could be done 18 months later.