Margaritaville Casino & Restaurant in Biloxi, Mississippi, US has announced plans for a new hotel resort that includes timeshare properties, a spa and 250 bedrooms.

Ground will be broken in the project during Q1 of 2014 with an estimated completion date of Q1 in 2015.

The 250-bedroom hotel will cost around US$60m (£36.3m, €43.9m) to build and will feature an expanded and renovated casino floor, which will see the addition of a spa, pool and meeting space.

Margaritaville Biloxi will also make improvements to its marina to provide more secured overnight docking accommodations, as well as develop a bay-front resort pool and pool bar with outdoor gambling.

Cuningham Group has been selected to be the designer and architect for the new project while New Orleans-based The McDonnel Group has been chosen as general contractor.

"Margaritaville Biloxi will be making a considerable investment in creating a resort destination the likes of which Biloxi has never seen," said Doug Shipley, president & CEO. "The addition of time-shares to our hotel will attract a whole new type of customer; one that's not currently visiting the Biloxi area. It truly is an exciting opportunity for our city."