Known under various names such as the Treasure Island Resort or Treasure Island Inn, the 11-story, 227-room structure was built in 1974 along the sandy shores of Daytona Beach and residing where the Treasure Island Motel used to be.
It featured a tiki garden with a bar, two swimming pools, conference facilities, the Billy Bone’s Tavern, and a grand entrance with a huge wooden, Polynesian-style, overhanging roof.
Like the Glass Bank in Cocoa Beach, the hotel sustained huge amounts of damage after the 2004 hurricane season and was closed down by the end of summer. The owners, Bray & Gillespie LLC, stated it would reopen by June 2005, but work halted during it’s reconstruction after a legal dispute with the construction company hired to repair the building. To make matters worse, Bray & Gillespie who used to own over 35 hotels in the Daytona area filed for bankruptcy.
When the city of Daytona Beach Shores filed suit in 2011 to get the building torn down, a dozen defendants were named because it was that unclear who owned it because of all the liens, bankruptcies, suits and countersuits. In the end, the court determined the property was under the ownership of RAIT Financial Trust, the lien holder.
Afterwards, an agreement was established which required RAIT to either demolish or restore the building within the next year. In return, the city would forgive about $167,000 of the more than $800,000 in code enforcement fines the property has racked up over the past decade.
Rather than demolishing the building, RAIT began cleaning the area around the property with the idea of restoring it. But as of now, the building remains as it has for the past 10 years; a hulking eyesore where only scrappers and the curious individual goes.