Palm Pavilion Restaurant & Inn has sold for $23 million, closing a deal that was first announced in January.
The sale splits the iconic Clearwater Beach property between two Tampa Bay hospitality groups. St. Petersburg-based Beachside Hospitality Group purchased the restaurant. Tampa-based McKibbon Equities acquired the inn.
Palm Pavilion sits at 10 and 18 Bay Esplanade on Clearwater Beach. Built in 1926, it is recognized as Florida’s oldest operating beach pavilion.
Two buyers, two operations
The sale included an 11,869-square-foot restaurant and a 12,129-square-foot inn with 37 units, along with on-site parking…