The 21-room beachfront hotel has not been renovated since its original construction in 1950.
The hotel will be demolished, according to CBS Los Angeles.
According to property records, co-founder and chief executive of Oracle Corporation Larry Ellison purchased Casa Malibu Inn in 2007 for $20 million.
Chef Nobu Matsuhisa told Haute Living that he and the Oracle CEO are in talks about a Japanese concept hotel next to the Nobu Malibu property on Pacific Coast Highway.What are your memories at Casa Malibu? Tell us in the comments.