In partnership with David Grutman of Groot Hospitality, Williams will work with the hotel group to open Somewhere Else.
The resort, which will sit adjacent to Atlantis and take over the current site of The Beach, will offer more than 400 guestrooms and suites, a selection of dining venues, an oceanfront beach, pools and recreation areas, amenities and live entertainment.
Grutman said Somewhere Else will be a "one-of-a-kind resort".
"We’ll have something for everyone, yet Pharrell and I are making sure Somewhere Else is unlike anywhere else," he added.
The move marks a second project for the pair, following their opening last year of The Goodtime Hotel in Miami.
It comes after football legend Eric Cantona launched a tour operation aimed at fans who want a more in-depth experience.
