Billionaire Larry Ellison Just Bought the Famous Eau Palm Beach Resort in Florida
Larry Ellison is largely known for his tech innovations, but the Oracle cofounder is just as invested in hospitality—literally.
The billionaire Ellison, currently the seventh-richest person on the planet, just acquired the Eau Palm Beach Resort & Spa in Manalapan, Florida. The five-star hotel has existed in many iterations since it was established in the 1950s; Ellison is taking over the property from the Lewis family, who held control since 2003.
More from Robb Report
'Experience Is Not Expertise': Why Rich, First-Time Hoteliers Are Failing So Spectacularly
A Solar-Powered Private Island in the Florida Keys Hits the Market for $21.9 Million
Why a New N.Y.C. Bill Could Dramatically Impact the City's Hotel Restaurants
“Our family feels privileged to have been a successful part of the Eau Palm Beach story,” Simon Lewis, the principal of the Lewis Trust Group, said in a statement. “Though we are sorry to bring our tenure to a close, we are gratified in knowing that Larry Ellison will treasure the resort and guide its hoteliers to even greater heights. Though we leave behind countless memories and friends, we will always look back on our long association with Manalapan with gratitude and pride.”
The Eau Palm Beach was initially known as La Coquille Club, a beach club where families such as the Vanderbilts and Rockefellers vacationed. In the 1970s, La Coquille was torn down by the Simon family, who built the Ritz-Carlton Palm Beach in its place. In 2013, the Lewis family rebranded the property as the Eau Palm Beach. (The La Coquille Club still exists as a beach club within the resort.)
Ellison’s investment in the Eau Palm Beach will go toward future updates that hope to refresh the property but maintain its prestige. Over the years, the billionaire has similarly taken ownership of numerous other hotels, including the Four Seasons Resort Lanai, Nobu Ryokan Malibu, and Hyatt Regency Lake Tahoe. That background will ideally lead to a smooth transition for the Eau Palm Beach, which is planning to retain its current staff members.
“We are excited about the acquisition by the Ellison family,” Tim Nardi, the resort’s general manager, said in a statement. “Ellison’s extensive experience in luxury hospitality brings a new level of innovation to the resort and we are confident that this transition will not only enhance the unique experiences we offer but also introduce new amenities and services, ensuring Eau Palm Beach remains a premier destination for our valued guests.”
It was not made clear how much Ellison paid for the property, but his hotel portfolio has now expanded to the Sunshine State.
Best of Robb Report
The Ultimate Miami Spa Guide: 15 Luxurious Places to Treat Yourself
The 7 Most Insanely Luxurious Spas in the World, From Tokyo to Iceland
17 Reasons the Caribbean Should Be at the Top of Your Travel Itinerary
Sign up for Robb Report's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.