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Driftwood Hospitality Management Embarking on Extensive Renovation
of Three Properties Recently Acquired Through Apollo Joint Venture
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News for the Hospitality Executive |
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North
Palm Beach, FL – June 5, 2012
– Driftwood Hospitality Management (www.TheDriftwoodDifference.com)
today announced the details of a major renovation project targeting
three recently
acquired properties. The company expects to finalize the
extensive
upgrades by the end of 2012, thanks to the financial backing of a 2011
joint
venture with a real estate investment fund managed and advised by
affiliates of
Apollo Global Management, LLC (together with its subsidiaries,
“Apollo”). “In this market, companies that are aggressive and refuse to rest on their laurels will come out in on top,” said Mike Diaz, Chief Operating Officer at Driftwood. "The Driftwood team believes in being flexible, strategic and seizing opportunities as they arise. We see signs that the economy is rebounding, especially within the business travel sector, and we believe that moving forward with these renovations will ensure our properties are poised for future success.” Driftwood’s Q3 & Q4 expansion program will encompass the following:
About Driftwood Hospitality Management  Based in North Palm Beach, Fla.,
Driftwood Hospitality Management, LLC is a leader in providing
solutions-based
services for the domestic and international hotel industry. Guided by
The
Driftwood Difference – Flexibility, Diversity, Integrity,
Accessibility,
Originality, the company covers the full spectrum of lodging business
needs. From full-service, upscale and upper-upscale hotels to
mid-size
extended-stay, select and limited-service properties, Driftwood’s
portfolio
represents virtually every segment of the hospitality industry.
Focused
on strategic acquisition, development, third-party management and
receivership,
Driftwood has extensive management experience and relationships with
most major
brands, including Starwood Hotels & Resorts Worldwide, Hilton
Worldwide,
InterContinental Hotels Group, Inc., Carlson, Choice Hotels
International, Inc.
and Wyndham Worldwide. With additional offices in Costa Rica,
Scottsdale, Ariz.
and Miami, Fla., the company and its hotels have received more than 20
industry
awards in the past three years. For more information, visit www.TheDriftwoodDifference.com.
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| Contact: Claibourne Smith M. Silver Associates 954-765-3636 Claibourne@msilver-pr.com |
