The Palms Hotel & Spa was purchased by its current owners, the Krause family, in 1991 and at the time was named the Sea Isle, an Art Deco hotel originally built in 1939. After extensive renovation, it was opened as the Miami Beach Ocean Resort in 1992. After almost 10 years of great success, the owners decided to take the hotel to a more luxurious and stylish level by overhauling its guestrooms and public areas and relaunching the property under a new name, The Palms South Beach, in 2001. This successfully transformed the property into a tropically sophisticated boutique hotel, complete with modern amenities, exceptional service, and a prime location within minutes of South Beach.
Once again, in 2009, the owners decided to progress to the next level as a 4-star hotel by adding The Palms Spa and a new restaurant and lounge concept, Essensia, to its amenities along with enhancing the property throughout. With these upgrades, wholeheartedly inspired by nature and in the interest of providing guests with a greater sense of well-being, the hotel unveiled its new name, The Palms Hotel & Spa, in January 2009.