Kemo
10-21-2015, 12:05 AM
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After a lot of speculation the Tampa Bay Times has finally come through with an article explaining why Hulk Hogan’s “Hogan’s Beach” restaurant is in the process of closing. Today, the sale was closed on the Best Western Bay Harbor hotel at Rocky Point, which the restaurant is part of. The 261-room hotel is being sold for $34.5 million to the Oxford Capital Group out of Chicago. Obviously, this means that the restaurant closing has nothing to do with the fallout from Hogan’s racist rant leaking over the Summer, something real estate investor Ben Mallah confirmed to the Times.
Mallah explained that “Basically everything with us is timing. We buy assets and fix them up. The market is high right now. Tampa’s hot …Hogan had nothing to do with it. He was fine. Ultimately, we’re in the real estate business, not in the restaurant business.” Mallah said that Hogan had no ownership interest in the restaurant, which licensed his name, though his name is on some of the ownership paperwork.
The hotel is still open under the Bay Harbor name, but will be undergoing major renovations. Hogan’s Beach Shop, a separate storefront not connected to this property, remains open for business.
After a lot of speculation the Tampa Bay Times has finally come through with an article explaining why Hulk Hogan’s “Hogan’s Beach” restaurant is in the process of closing. Today, the sale was closed on the Best Western Bay Harbor hotel at Rocky Point, which the restaurant is part of. The 261-room hotel is being sold for $34.5 million to the Oxford Capital Group out of Chicago. Obviously, this means that the restaurant closing has nothing to do with the fallout from Hogan’s racist rant leaking over the Summer, something real estate investor Ben Mallah confirmed to the Times.
Mallah explained that “Basically everything with us is timing. We buy assets and fix them up. The market is high right now. Tampa’s hot …Hogan had nothing to do with it. He was fine. Ultimately, we’re in the real estate business, not in the restaurant business.” Mallah said that Hogan had no ownership interest in the restaurant, which licensed his name, though his name is on some of the ownership paperwork.
The hotel is still open under the Bay Harbor name, but will be undergoing major renovations. Hogan’s Beach Shop, a separate storefront not connected to this property, remains open for business.