Skift Take
Sports Illustrated's play for hotels could prove a winning brand extension. But its resorts risk becoming an also-ran if their operations aren't well coached.
Iconic magazine Sports Illustrated first lent its brand name to a hotel venture in late 2022, when its resort opened in Cap Cana in the Dominican Republic. Yet the forces behind Sports Illustrated Resorts aim to expand its footprint relatively quickly.
The resort brand is a creation of Experiential Ventures Hospitality and Authentic Brands Group. They invested about $3 million to renovate and rebrand a 150-room hotel — the Ancora Cap Cana, owned by Cap Cana Development — to create a vibe for sports fans.
Earlier this year, Kituwah, the development arm of the Eastern Band of Cherokee Indians, agreed to invest more than $300 million in Sports Illustrated Resorts. It took a page from the experiential hospitality playbook of the Seminole Tribe, which since 2007 has been scaling up the Hard Rock brand worldwide.
Kituwah is spending $75 million a year to build four Sports Illustrated resorts from scratch over four years. Its 50% equity control of Sports Illustrated Resorts makes it the large