Oracle founder Larry Ellison now owns the Eau Palm Beach Resort & Spa, a luxury hotel in Manalapan, Fla., and a member of the Preferred Hotels & Resorts Legend Collection.
Global real estate investment bank Eastdil Secured advised the seller, Lewis Trust Group. Other terms were not disclosed.
Ellison owns hotels such as the Sensei Lanai, A Four Seasons Resort; Nobu Ryokan Malibu; Nobu Hotel Palo Alto; Hyatt Regency Lake Tahoe and Sensei Porcupine Creek.
Originally established as La Coquille Club in the 1950s, Eau Palm Beach Resort & Spa has evolved remarkably since its inception. From the mid-1950s to the late 1970s, La Coquille Club served as a popular beach club and playground for socialites such as the Vanderbilt and Ford families, as well as the Rockefeller family and U.S. presidents. By the late 1970s, the Simon family, owners of the Vanderbilt estate, obtained permission to raze the club and build The Ritz-Carlton Palm Beach, which opened in the early 1990s. The Lewis family purchased the property in 2003, maintaining its status as a Ritz-Carlton until 2013, when it was rebranded as Eau Palm Beach Resort & Spa.
“Our family feels privileged to have been a successful part of the Eau Palm Beach story,” Simon Lewis, principal, 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.”
“We are excited about the acquisition by the Ellison family,” said Tim Nardi, general manager of Eau Palm Beach Resort & Spa. “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.”
Ellison is planning to invest in future updates that will "further elevate the guest experience at Eau Palm Beach Resort & Spa," according to the company. The current team of hoteliers will remain on staff, ensuring a smooth transition and continuity in operations.