Oracle co-founder Larry Ellison has acquired the Eau Palm Beach Resort & Spa from the Lewis Trust Group. The 309-room resort, which has a colorful past, was established in 1950 as La Coquille Club. It catered to high-end vacationers such as the Vanderbilt, Ford and Rockefeller families. In the ’90s, it became the Ritz-Carlton Palm Beach Resort, and it was rebranded Eau Palm Beach Resort & Spa in 2013. Various sources report that the asking price was approximately $1 million a room.

The 8-acre resort and hotel features seaside swimming pools, a 42,000-square-foot spa, 32,000 square feet of meeting space and several restaurants. 

Ellison has taken an interest in the hospitality industry. His portfolio includes Four Seasons Lanai, Sensei Lanai, Nobu Ryokan Malibu, Nobu Hotel Palo Alto, Hyatt Regency Lake Tahoe, and Sensei Porcupine Creek. Ellison is planning to invest in future updates at Eau Palm Beach Resort & Spa.

Global real estate investment bank Eastdil Secured’s Lodging Team served as the exclusive advisor to the seller.