Palm Beach’s Iconic Colony Hotel Secures $25M Refi
City National Bank of Florida provided the financing for the famed 90-room asset
By Julia Echikson April 30, 2025 3:15 pm
reprints
The Colony Hotel — the famed, pink establishment in Palm Beach, Fla. — secured $25 million from City National Bank of Florida to refinance the asset, records show.
The 2.5-acre boutique hotel property includes a 13-story building with 83 rooms at 155 Hammon Avenue, a block south of Worth Avenue, the town’s main ultra-luxury shopping street. Seven remaining rooms are housed in a mansion across the street, called The Villas.
The debt package includes a $15 million loan and a $10 million credit line, according to mortgage documents.
In 2016, husband and wife Andrew and Sarah Wetenhall purchased a majority stake in the 84,870-square-foot hotel for $12 million. Andrew Wetenhall’s late father, Robert, who owned the Montreal Alouettes Canadian football team, lived in one of the Colony’s penthouses, according to the Palm Beach Daily News.
Built in 1947, the Colony Hotel has become one of the most recognizable names in the wealthy island town, known for its pink walls and famous guests, such as Lilly Pulitzer, Judy Garland, Frank Sinatra and Sophia Loren.
A representative for the Colony Hotel did not immediately respond to a request for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
