Pat Croce & Company

What Pat Croce & Company does

Pat Croce & Company is a family-run hospitality management company that directly owns and operates a portfolio of 16 properties across three geographic markets: Key West, FL (founded 2005–2006); St. Augustine, FL (entered 2010); and State College, PA (entered 2020). The portfolio spans full-service restaurants and bars (including historic venues such as the Green Parrot, ranked #3 favorite bar in the United States, and Corner Room, operating since 1855), lodging (Hotel State College, operating since 1864), a pirate-themed attraction built around a collection of more than 800 authentic artifacts, and event/venue rental spaces.

The company generates revenue through four primary streams: food and beverage sales, attraction admissions, hotel accommodations, and event/venue rentals. Unlike franchise-driven hospitality operators, all properties are directly owned and operated, which concentrates operating control — and capital risk — within the parent entity. The customer base is fundamentally B2C and broad: leisure travelers visiting destination markets, local residents, the Penn State University community in State College, and event planners hosting weddings, corporate gatherings, and private functions.

The operating model has been paired with a sustainability program: the company achieved carbon-neutral certification in 2022 and formalized its environmental program through a 2023 partnership with GreenPlaces. The competitive positioning rests on heritage real estate, locally iconic brands, curated cultural assets (the pirate collection), and family-led operational continuity rather than on technology or scale economics. No AI/ML capabilities, external funding rounds, M&A activity, or franchise/licensing program are disclosed.

Name

Pat Croce & Company

Legal name

Pat Croce & Company

Website

https://patcroceandcompany.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Pat Croce & Company is a family-run hospitality operator that directly owns and manages 16 historic restaurants, bars, a hotel, a pirate-themed attraction, and event venues across Key West FL, St. Augustine FL, and State College PA, serving tourists, locals, and the Penn State community.

Ownership category

akta.pro rank

Product category

Hospitality Management

NAICS

Management of Companies and Enterprises (55111)

SIC

Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Family-Style Restaurants (THAFACAC)

Keywords

• Hospitality management
• Restaurant operations
• Bar establishments
• Hotel accommodations
• Tourist attractions

Headquarters

HQ city

State College

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Food & Beverage Sales: Revenue from restaurant, bar, and fast-casual dining operations across 16 properties including seafood restaurants, raw bars, grills, pubs, cocktail lounges, nightclubs, and British-style pubs. Food is sourced locally with sustainable domestic seafood.
2. Attraction Admissions: Revenue from admission tickets to the St. Augustine Pirate & Treasure Museum and Colonial Quarter interactive attraction.
3. Hotel Accommodations: Revenue from overnight stays at Hotel State College, a historic hotel operating since 1855/1864.
4. Venue & Event Rental: Revenue from private event bookings at venues including Colonial Oak Music Park (weddings up to 175 guests), The Corner Room, and Allen Street Grill. Catering menus sourced from in-house restaurants.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Pat Croce & Company is a family-run hospitality management company that owns, operates, and builds brands across the hospitality industry. It directly operates 16 distinct properties — including bars, restaurants, pubs, a historic hotel, interactive museums, and outdoor music venues — in three US markets: Key West FL, St. Augustine FL, and State College PA.

Product overview

Pat Croce & Company is a family-run hospitality management company operating a portfolio of bars, restaurants, hotels, and attractions across three markets: Key West, Florida; Saint Augustine, Florida; and State College, Pennsylvania. The company manages 16 distinct properties including seafood restaurants (Half Shell Raw Bar, Saint Augustine Seafood Company), bars and pubs (Green Parrot, Bull and Crown, Chumley's, Zeno's Pub, Bill Pickle's Tap Room), restaurants (Allen Street Grill, The Corner Room, Taberna del Caballo), entertainment venues (Colonial Oak Music Park, The Basement Nightspot), attractions (St. Augustine Pirate & Treasure Museum, Colonial Quarter), and a historic hotel (Hotel State College). The company was founded in 2005-2006 with operations in Key West and expanded to St. Augustine in 2010 and State College in 2020.

Differentiator

Problem solved

Functional benefit

Products and services

• Half Shell Raw Bar Key West seafood restaurant originally built as a shrimp warehouse in 1972. Offers broiled garlic oysters, fish and chips, steamed clams, peel-and-eat shrimp, and conch ceviche with waterfront dining views.
• Green Parrot

Quantifiable outcome

• Carbon Neutral certification achieved in 2022, with ongoing sustainability initiatives including renewable energy projects, oyster shell recycling, and sustainable vendor alignment.
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• GreenPlacescoreStrategic or Co-development Partner · 1 January 2023In 2023, Pat Croce & Company partnered with GreenPlaces to gain full visibility into their climate impact. This partnership enabled the formulation of their long-term sustainability strategy, including calculating greenhouse gas emissions, identifying strategic priorities, employee and guest education, supporting renewable energy projects, developing an oyster shell recycling program, and aligning with sustainable vendors and suppliers. The company achieved carbon neutrality in 2022 through this initiative.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Hard Rock International: Themed hospitality, restaurant, and attraction operator with strong content IP (memorabilia, branded experiences). Comparable to Pat Croce's themed-attraction-plus-F&B model (Pirate Museum + multiple venues).
• Kimpton Hotels & Restaurants: Boutique hotel and restaurant operator (now part of IHG) with a portfolio of individually branded properties featuring distinct restaurants and bars. Comparable as a multi-property hospitality operator with strong individual brand identities.
• Pyramid Hotel Group: Hospitality management company operating hotels, restaurants, and venues across multiple markets. Comparable as a multi-property, multi-concept operator with similar geographic spread.
• Highgate Hotels: Major hotel operator with significant restaurant, bar, and venue operations across U.S. markets. Comparable in operating a diversified hospitality portfolio across multiple geographies.

Direct peers

• Patina Restaurant Group: Multi-concept restaurant operator focused on high-traffic cultural and entertainment destinations (concerts, museums, airports). Comparable in concept portfolio diversity and venue-driven foot-traffic model.
• B&B Hospitality Group: Privately held, family-operated hospitality company managing restaurants, bars, and entertainment venues across multiple markets. Closely comparable in operating model (multi-concept, family-owned) and scale.
• Hillstone Restaurant Group: Independent multi-concept restaurant operator (Hillstone, Houston's, Bandera, etc.) running differentiated casual and upscale brands. Comparable as a diversified independent hospitality operator without a single dominant concept.
• Lettuce Entertain You Enterprises: Founder-led (Rich Melman) multi-concept restaurant group operating dozens of distinct dining brands. Highly comparable as a family/independent-run hospitality operator with diversified concept portfolio and no institutional ownership.

Emerging players

• 21c Museum Hotels: Boutique hotel brand that doubles as a contemporary art museum with attached restaurants and bars. Directly comparable to Pat Croce's combination of attraction IP (Pirate Museum) with hotel and F&B operations.

Others

• Bok Center / Reading Terminal concepts (Independent venue operators): Independent operators of distinctive live-music and hospitality venues (Colonial Oak Music Park equivalent). Included as adjacent peers on the venue-and-events component of Pat Croce's portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks4 records

Key highlights5 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Pat Croce & Company