McKibbon Equities has closed on the purchase of Palm Pavilion Inn on Florida’s Clearwater Beach, adding the hotel to its portfolio of owned and operated assets.
The 30-room hotel has been open since 1926. It has a mix of hotel rooms, studios and one-bedroom apartments; a heated outdoor swimming pool; a rooftop observation deck; and The Palm Beach Shoppe. The property is walking distance from Clearwater Beach.
“Adding a beachfront property to our portfolio of owned assets has been a long-time goal,” said J.B. McKibbon, president of McKibbon Equities. “When the opportunity arose to purchase Palm Pavilion Inn, we knew it was the perfect fit for McKibbon and our greater acquisition strategy.”
Palm Pavilion Inn will be operated by McKibbon’s management company, McKibbon Hospitality, which operates two additional beachfront properties for third-party owners: Hampton Inn & Suites Clearwater Beach and Dolphin Sands Clearwater Beach.
Palm Pavilion Beachside Grill & Bar has been acquired by Beachside Hospitality Group, who will be overseeing the restaurant’s operations.