As previously reported, Hulk Hogan's "Hogan's Beach" restaurant has recently closed down. At the time of the report, no reason why given as to why; however, there were rumors that it may have had something to do with the recent racism controversy involving Hogan.

However, reports now indicate that that is actually far from the truth, as the Tampa Bay Times is reporting that a local real estate investor has confirmed that they have recently closed on the sale of the Best Western Bay Harbor, a 261-room hotel which also includes the restaurant itself on the property. The total cost of the sale was said to be at $34.5 million.

The report also notes that while Hogan licensed his name to the "Hogan's Beach" restaurant, he did not have any actual ownership interest in the establishment itself.