driftwood acquisitions & development
Driftwood Acquisitions & Development Enters California Market With $85.7 Million Acquisition of 353-Key Marriott Mission Valley in San Diego
Driftwood Acquisitions & Development | March 20, 2019
SAN DIEGO (March 20, 2019) – Driftwood Acquisitions and Development (DAD) – a privately held investment firm specializing in the acquisition, development and investment syndication of quality hotel assets – announces its entry into the California market with the $85.7 million acquisition of the 353-key Marriott Mission Valley in San Diego. The firm also intends to develop a second hotel on the southwest corner of the same site. DAD is inviting accredited investors to co-invest in this hotel through its unique syndication platform, which allows clients to invest in institutional-quality, fully-financed, income-producing...
Driftwood Acquisitions & Development Sells SpringHill Suites Altamonte Springs
Driftwood Acquisitions & Development | January 16, 2019
Orlando, Fla. (Jan. 15, 2019) – Driftwood Acquisitions and Development (DAD) – a privately held firm specializing in the acquisition, repositioning and investment syndication of high-quality hotel assets – announced today that it sold the SpringHill Suites Altamonte Springs, a Marriott-branded, 90-key hotel located 10 miles north of Orlando. DAD acquired the asset in 2015 out of receivership, with little renovation needed, as a cash-flowing market play. While maintaining a 10 percent equity stake in the property, the firm syndicated the remaining 90% of its equity position to individual accredited investors after closi...
Driftwood Acquisitions & Development Acquires Florida’s 290-Room Crowne Plaza Melbourne Oceanfront
Driftwood Acquisitions & Development | October 18, 2018
Melbourne, Fla. (October 18, 2018) – Driftwood Acquisitions and Development (DAD) – a privately held investment firm specializing in the acquisition and development of quality hotel assets – today announced its purchase of the 290-room Crowne Plaza Melbourne Oceanfront in Melbourne, Florida. The hotel recently completed a full renovation that addressed areas impacted by Hurricane Irma. The hotel will be managed by Driftwood Hospitality Management (DHM). "This is the 15th acquisition made by Driftwood Acquisitions & Development, and we are excited about the potential this property has, with an idyllic location and a...
Driftwood Acquisitions & Development to Introduce Margaritaville Lake Resort, Lake of the Ozarks
Margaritaville Lake Resort, Lake of the Ozarks | October 11, 2018
Osage Beach, Mo. – October 11, 2018 – New details were revealed today surrounding the introduction of a Margaritaville Resort to the shores of Lake of the Ozarks in Osage Beach, Mo. This new lakeside retreat, the first of its kind for Margaritaville, will feature renovated guestrooms, an exterior refresh and several new dining concepts. Upon completion of a phased renovation program in spring 2019, the property will be named Margaritaville Lake Resort, Lake of the Ozarks. "Margaritaville's relaxing, laid-back vibe fits in perfectly here at Lake of the Ozarks and complements the unique charm of Osage Beach," said Fred Dehner,...
Driftwood Acquisitions and Development Breaks Ground on New Canopy by Hilton in Tempe, Arizona
Driftwood Acquisitions & Development | September 25, 2018
Coral Gables, Fla. – September 25, 2018 – Driftwood Acquisitions & Development (DAD) celebrated the groundbreaking of the Canopy by Hilton, Hilton's (NYSE: HLT) lifestyle hotel brand, yesterday in Tempe, Arizona. Slated to open as a 198-room hotel by January 2020, Canopy by Hilton Tempe Downtown University Area is located in the heart of Tempe across the street from Arizona State University (ASU), one of the largest public universities by enrollment in the United States. Driftwood Hospitality Management (DHM), DAD's affiliate, will manage the hotel. DAD is an innovative hospitality industry leader with decades of experie...
Driftwood Acquisitions and Development, Merrimac Ventures Break Ground on Dual-Branded Tru by Hilton and Home2 Suites by Hilton Hotel in Fort Lauderda
Driftwood Acquisitions & Development | June 6, 2018
Fort Lauderdale, Fla. – June 6, 2018 – Driftwood Acquisitions & Development (DAD), an innovative hospitality industry leader with decades of experience and a strategic focus on hotel and resort acquisitions, has celebrated the groundbreaking of its $50M+ dual-branded Tru by Hilton and Home2 Suites by Hilton hotel in Fort Lauderdale, Florida. Located at 315 NW 1st Avenue, the property will be managed by DAD's North Palm Beach management arm – Driftwood Hospitality Management (DHM) – and is expected to open in early 2020, merging two of Hilton's popular brands in the vibrant Flagler Village neighborhood in down...
Driftwood Acquisitions & Development to Build New 200-Room Canopy by Hilton in Tempe, Arizona
Driftwood Acquisitions & Development | January 30, 2018
MIAMI, Fla. and MCLEAN, Va. – January 30, 2018 – Driftwood Acquisitions & Development(DAD), a company with decades of hospitality experience and a strategic focus on hotel and resort acquisitions, today announced plans to build a new Canopy by Hilton (NYSE: HLT) in Tempe, Arizona. The $60M+, 200-room Canopy by Hilton Tempe Downtown, University Area is in the heart of Tempe on University Drive, across the street from Arizona State University (ASU), one of the largest public university campuses by enrollment in the United States. DAD is purchasing the land parcel from The OPUS Group to anchor a corner of OPUS' highly antic...
Driftwood Acquisitions & Development Acquires Hlton/Dallas Rockwell Lakefront and Sheraton Detroit Novi Hotel
Driftwood Acquisitions & Development | December 4, 2017
MIAMI, Fla. – December 4, 2017 – Driftwood Acquisitions & Development (DAD) – a company with a first-of-its-kind business model that provides the perfect vehicle for accredited investors to co-invest in institutional quality cash flowing hotel assets – today announced it has acquired the Hilton Dallas/Rockwall Lakefront and Sheraton Detroit Novi Hotel. The announcement is the latest in a string of positive news for the company, which is poised to celebrate its best year ever heading into 2018. Most recently, DAD unveiled plans for a $10M renovation program at Tan-Tar-A Resort in Central Missouri, which will b...
