The founder and president of Red Carnation Hotel Collection has sold her beachfront estate in Palm Beach for $ 57 million.

Records show that Beatrice Tollman sold the mansion at 174 Via Del Lago to 174 VDL Investment LLC. The Florida-based company is managed by Siren Property Development and Investment, which in turn is managed by lawyer Maura Ziska. The buyer secured two separate loans from First Republic Bank to finance the purchase, totaling $ 37.1 million, according to records.

Tollman and her husband, Stanley, started their boutique hotel business in South Africa in 1954. In 1975 they moved to London and in 1984 created the Red Carnation Hotel Collection, according to Hotel Report. Today, their family owns Travel Corp., which owns 40 travel brands, including tour operators, hotels, and transportation companies. Their US headquarters are in Cypress, California, and their son Brett Tollman is CEO.

Property records show Tollman purchased the 15,241 square foot Palm Beach mansion in 1987 for $ 2.7 million.

The house, which sits on nearly 3 acres of waterfront land, is historic and was built by Marion Sims Wyeth in 1934, according to the listing.

The home has nine bedrooms, 10 full baths, and six half baths. The property has direct access to the Intracoastal with a dock, and also has a tennis court, koi ponds, swimming pool and a six-car garage.

The house was first listed in 2015 for $ 35 million. It was listed again in December for $ 64.9 million. Records show the interior was renovated in 2019.

Christian Angle of Christian Angle Real Estate represented Tollman and Suzanne Trapani-Frisbie with Premier Estate Properties represented the buyer.

This sale is just one of many expensive offers in palm beach this month. Among them, Steve Wynn flipped a waterfront property to $ 23.7 million, Todd Michael Glaser returned a historic Palm Beach estate to $ 27.5 million, and a private equity investor sold a beachfront mansion for $ 45.6 million.