After three years of planning and construction, a new $31 million Staybridge Suites hotel is now open in downtown Wilmington.
Market players struggle to see a positive recovery for the sector, but there is opportunity to be had for the right asset and location.
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 Miami-area developer has completed a $31 million conversion project that turned an 11-story downtown Wilmington office building into a new Staybridge Suites hotel. The hotel, featuring 134 suite-style rooms with a contemporary look and feel, is now open to the public.
Brevard County commissioners on Tuesday approved a controversial proposal to grant up to $30 million to the developer behind the planned Westin Cocoa Beach Resort & Spa.
An increasing number of travelers today are as interested in collecting memorable experiences as they are in collecting travel rewards, and this is driving more consumer demand and investor appetite for boutique-style, soft-brand hotels that offer a unique setting for these experiences to unfold.
Travel is finally seeing the rebound hotel operators have been waiting for since the onset of the Covid-19 pandemic more than two years ago.
As Carlos Rodriguez, Sr., CEO of Driftwood Capital, puts it, “At the end of the day, it’s all about trust and letting everyone know where you stand and what is happening.”
Florida-based Driftwood Capital bought the Scottsdale Resort at McCormick Ranch and is planning a major renovation and conversion of the resort to a Curio by Hilton, the Phoenix Business Journal reported.
Driftwood Capital has acquired The Scottsdale Resort at McCormick Ranch, a hacienda-style resort with 326 guestrooms located on 16 acres in one of Arizona’s planned communities.
The Scottsdale Resort at McCormick Ranch was renovated in 2015, but the upgrade planned by its new owner, Driftwood Capital, is being called the most extensive in the property’s nearly 50-year history.
Driftwood Capital bought the 16-acre resort for $113 million on Feb. 10 from an entity of Hong Kong-based Junson Capital, according to Maricopa County records.
Florida-based Driftwood Capital bought the Scottsdale Resort at McCormick Ranch and is planning a major renovation and conversion of the resort to a Curio by Hilton, the Phoenix Business Journal reported.
Driftwood Capital plans to complete a multimillion-dollar renovation that will convert the Hotel to a Curio Collection by Hilton, a global upscale brand of one-of-a-kind hotels and resorts handpicked for their distinct character.
A hotel property in Scottsdale that has been around for more than four decades was recently sold and will undergo a multimillion-dollar renovation.
Driftwood Capital bought the 16-acre resort for $113 million on Feb. 10 from an entity of Hong Kong-based Junson Capital, according to Maricopa County records.
Driftwood Capital plans to complete a multimillion-dollar renovation that will convert the Hotel to a Curio Collection by Hilton, a global upscale brand of one-of-a-kind hotels and resorts handpicked for their distinct character.
Driftwood — which currently owns three other hotels and employs 300 people in the region — has proposed making a $300 million private investment to build a luxury oceanfront resort.
Accredited investors will have the opportunity to invest in the hotel through Driftwood Capital’s DealDirect investment platform beginning in the second quarter of 2022.
A majority of the Brevard County Commission opposes using tax money to pay for a study on whether the county needs a new convention center, how big it should be and where it should be located.
Pinsker will help shape and execute on the firm’s long-term investment strategy through the selective acquisition of full-service, cash-flowing hotels in US markets with strong underlying fundamentals.
Driftwood Capital is pleased to announce the appointment of Martin Pinsker to the role of Vice President In this role, Pinsker will help shape and execute on the firm's long-term investment strategy through the selective acquisition of full-service, cash-flowing hotels in U.S. markets with strong underlying fundamentals.
Once the pandemic hit, many investors waited, patiently, for opportunities to buy assets at a discount. There was a widespread expectation that a wave of distressed assets would come to market, as happened following the Financial Crisis.
Driftwood has closed a $138.7 million financing package for two resort hotels located in Estes Park, Colorado on behalf of the sponsor Grand Heritage Hotel Group.
