WRE News: Billionaire Barry Ellison Buys Eau Palm Beach Resort & Spa for $277.4 Million

Palm Beach, FL – Billionaire Larry Ellison just made a $277.4 million splash in Palm Beach County, acquiring the Eau Palm Beach.

The 310-room luxury hotel, located on an eight-acre oceanfront property in Manalapan, was sold by Zinfandel Holdings LLC, led by the family of Simon Lewis, to a company affiliated with Ellison. The sale, which also included a nearby 2.84-acre parking lot, marks a significant increase in the property’s value since its last sale in 2003 for $67.5 million.

The resort, originally established in the 1950s and rebranded as Eau Palm Beach in 2013, will retain its current management under Ellison’s ownership. Known for his investments in luxury hotels, Ellison adds this Florida gem to his portfolio, which includes properties like the Four Seasons Lanai and Nobu Ryokan Malibu.