After months of speculation since the devastating fire on April 28th 2010 left the beloved Treasure Ship restaurant just a shell of its former glory, owners Lisa and Jimmy Todd have decided not to re-build. The historic landmark was opened in 1978 and since became one of Panama City Beach’s favorite eateries, thanks to its glorious waterfront setting, abundance of character, great food and friendly staff.
Lisa Todd recounted the great number of people that always shared their memories of the Treasure Ship, including the romantic proposals and special family gatherings that will always play a big part in its legacy. “The community response has been wonderful” says Todd. “We appreciate all the support both over the years and to this day. We are very saddened to share this news but at the same time, feel that it is the right thing to do.”
Rebuilding the Treasure Ship would have been ultimately cost prohibitive, and after having 3 separate engineering firms examine the structure, the Todds decided to make the hard decision, move on, and look forward to the next chapter.
While nothing will succeed the Treasure Ship for a fairly lengthy period of time (possibly a year or two), one day something else will occupy the same beautiful spot that this remarkable Panama City Beach icon called home for 32 years. Of course we will welcome whatever that may be whenever that happens, but nothing will ever replace the Treasure Ship in our hearts and our memories.
Here are some of the original burn photos.
PCBDaily 
Great location for a “lighthouse” type bar and eatery. When something is built there I hope its not going to be another huge, ugly tourist attraction, but just for once something that goes well with the marina, etc.
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Great article on panama city beach hotels. We appreciate the information!
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Great place for a casino : P
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I have just returned to work today from my weeks vacation to PCB, my family & I had wondered if this was in the process of being rebuilt or at a standstill since we didn’t see any workers at the sight last week.
I guess this is the answer to our question.
I think it’s a sad decision and one that PCB may regret although I do understand the cost of this re-build project and the engineers output.
Hopefully since this is a very good spot on the bay they will take this into account & build something of great magnitude for all to see!
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Its so sad I was looking forward to taking my family one day.
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I too have been going to this very awesome PCB resturant site. I am very sorry that it has burned down and have been following the forward progress of the decision to build or not rebuild via the web. My suggestion: For all of the people that have been coming to this loving PCB landmark, including myself, why don’t the locals in PCB hold a donation somewhere in PCB so that customers who visited there and know the significants of the site, could donate anything from $1.00 and go up either in person or on the web? I think that all those like myself that know about this PCB landmark and loved it, and STILL do, would like to donate something to bring it back to life somehow. I also think with all those people donating that the owners could be able to rebuild. I think they would get a huge response to this idea and I don’t think it would take long to achieve a cost goal. Just a thought!
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This historical monument will be missed. My family and I have visited the ship on every PCB vacation. I remember going there with my grandparents, who I miss dearly. I went there to remember all the great memories I had with them. It will always be a place I will remember sharing smiles and laughter with my family.
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I am a Georgia resident and we have been going to this restaurant since I was 7 years old. In recent years, I have been taking my son to this restaurant. It’s really sad to see this iconic restaurant closed. Perhaps, someone would buy the property and rebuilt.
Who knows, anything is possible.
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I loved the Treasure Ship restaurant and growing up that was the place we ate at every time we visited Panama City Beach. I visited Panama City a while back and now I can’t look at the city again the same way. I really miss this really awesome, one of a kind, restaurants that can never be replaced. I think, since we don’t have plans of rebuilding it, instead have a historic landmark put in the place where it use to be. Kinda like a memorial to remain the people of the glory that place brought to Panama City. I also thought it would be awesome if you could’ve taken the Black Pearl from Pirates of the Caribbean to put in the place of the Treasure Ship and turn it into a restaurant or something. But like you mentioned nothing can ever take the place of this once beautiful historical restaurant that want ever be seen again for a long time. I still have one of the very last and probably the only surviving kids menu that turns into a pirate hat! It will be placed in a frame to keep it preserved and whenever I look at it I will always remember the Treasure Ship and share my stories of the restaurant to the next generation of my family.
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Has anyone thought about arson? Seriously though someone burned this mother to the ground for the insurance dough. Ammirite? All the lemmings saying “oh, I visited here from Sarasota she since I was
6” can go cry me a river. It’s amazing a giant wooden ship next to an unlimited amount of water could ever burn the f down without some sort of accelerant. Whatevs
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