Driftwood Capital
Driftwood Capital Breaks Ground on $420M Westin Resort & Spa in Florida’s Burgeoning Space Coast
Driftwood Capital | October 2, 2024
Cocoa Beach, Fla. (Oct. 2, 2024) – Driftwood Capital (“Driftwood”) announces the successful groundbreaking of the highly anticipated Westin Cocoa Beach Resort, Spa, and Conference Center, a 502-key oceanfront development located in Florida’s fast-growing Space Coast market. Located at 1300 North Atlantic Avenue on the coastal city of Cocoa Beach, the $420 million Westin Resort & Spa will be built on a 15.7-acre site, providing the largest conference center in the region. The resort will be managed by North Palm Beach-based Driftwood Hospitality Management once completed. The event was attended by notable figures, including Cocoa ...
Driftwood Capital Celebrates Grand Opening of Element Melbourne Oceanfront Hotel on Florida’s Space Coast
Driftwood Capital | June 14, 2024
The Miami-based company is capitalizing on one of the fastest-growing areas in Florida, opening the first waterfront hotel in Brevard County since 2020 Melbourne, Fla. (June 14, 2024) – Driftwood Capital, a vertically integrated commercial real estate firm providing accredited investors opportunities to invest in hospitality assets, announces the grand opening of the Element by Westin Melbourne Oceanfront (“Hotel”), a 130-key hotel in Melbourne, Florida. Part of a $1 billion pipeline of properties Driftwood Capital is developing throughout 2024, the Hotel is the firm’s fourth investment in Florida’s Space Coast, capitalizing on o...
Driftwood Capital Celebrates $40 Million Renovation of The Scottsdale Resort & Spa
Driftwood Capital | May 20, 2024
Scottsdale, Ariz. (May 20, 2024) – Driftwood Capital (“Driftwood”), a vertically integrated commercial real estate firm providing accredited investors opportunities to invest in hospitality assets, announces the completion of its $40 million renovation for the 278-key Scottsdale Resort at McCormick Ranch, a hacienda-style resort and the Phoenix area’s premier hospitality destination. Relaunched under the Curio Collection within the Hilton Worldwide portfolio of hotels and resorts, the AAA Four-Diamond resort is situated on 16 acres within the exclusive planned community of McCormick Ranch, just outside of Phoenix. Driftwood Hos...
Driftwood Capital Celebrates Rebranding of Its 245-Key Hotel Rumbao in Historic Old San Juan, Puerto Rico
Driftwood Capital | May 7, 2024
Following a $21.8M transformation, the repositioned asset has been launched under Marriott’s Tribute Portfolio of boutique hotels. San Juan, Puerto Rico (May 7, 2024) – Driftwood Capital (“Driftwood”), a vertically integrated commercial real estate hospitality sponsor, announces the grand opening of Hotel Rumbao, a 245-key hotel and Paseo Portuario, a parking and retail complex in Old San Juan, Puerto Rico. Acquired by Driftwood Capital in 2021, the property has been repositioned to Marriott’s Tribute Portfolio of independent boutique hotels following a $21.8 million renovation of the property and its surroundings. Driftwood H...
Driftwood Capital Acquires 299-Key Hilton Dallas/Plano Granite Park Hotel
Driftwood Capital | June 26, 2023
DALLAS (June 26, 2023) – Driftwood Capital, a vertically integrated commercial real estate firm providing attractive returns in hospitality, announces the acquisition of the Hilton Dallas/Plano Granite Park. The 299-key hotel is centrally located within the 90-acre master-planned, mixed-use community of Granite Park in the north Dallas suburb of Plano. This marks the company’s third hotel acquisition in the Dallas-Fort Worth market; it also owns the 231-key Hilton Dallas/Rockwall Lakefront and the 248-key Hilton Dallas Southlake Town Square. Driftwood Capital plans to renovate the hotel’s guestrooms and meeting space, and Driftwood H...
Driftwood Capital Breaks Ground on Oceanfront Element by Westin® Hotel in Melbourne, Florida
Driftwood Capital | October 17, 2022
Melbourne, Fla. (October 17, 2022) – Driftwood Capital (Driftwood), a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, is pleased to announce it has broken ground on the Element by Westin®, a new 130-key extended-stay hotel located on prime oceanfront property in Melbourne, Fla., one of the beach towns along Florida’s popular “Space Coast.” The property is being built on the 2.56-acre site of a former parking lot located at 2605 N. Highway A1A in Melbourne, Fla., adjacent to The Crowne Plaza Melbourne, another property owned and operated by Driftwood Capital. It is the first...
Driftwood Capital Completes Staybridge Suites Hotel in Downtown Wilmington, Delaware
Driftwood Capital | August 1, 2022
Wilmington, Del. (August 1, 2022) – Driftwood Capital, a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, is pleased to announce the completion of the new $31 million Staybridge Suites hotel in downtown Wilmington, Delaware. Located at 1220 N. Market Street in Downtown Wilmington, the 11-story property features 134 suite-style accommodations, a lounge, fitness center, sundries shop and a business center with meeting spaces designed for today’s business and leisure travelers. A former office building converted to a hotel, the property is located in a designated Opportunity Zone, an...
Driftwood Hospitality Appoints Senior Leadership Team for The Scottsdale Resort at McCormick Ranch
Driftwood Capital | March 31, 2022
Scottsdale, AZ – March 31, 2022 – The Scottsdale Resort at McCormick Ranch, a 326-room property that will be undergoing a comprehensive multimillion-dollar enhancement later this summer, announced today the resort’s new senior leadership team that will lead the property as it emerges into the Curio Collection by Hilton, a global set of remarkable upscale hotels hand-picked for their unique character and personality. [caption id="attachment_299900" align="alignright" width="268"] Ken Arneson[/caption] Driftwood Hospitality, the resort’s management company, has assembled a team of longtime Valley hospitality professionals that in...
