Driftwood Acquisitions and Development Acquires Doubletree by Hilton St. Augustine and Hampton Inn Daytona Beach/Beachfront
June 20, 2017 12:25pm
Miami, FL – June 20, 2017 – Driftwood Acquisitions and Development (DAD) – a privately held investment firm specializing in the acquisition and development of hotel assets throughout the United States – today announced the acquisitions of two hotels in Florida’s most well-known coastal cities. The DoubleTree by Hilton Historic District in St. Augustine and Hampton Inn Daytona Beach/Beachfront will become the company’s eighth and ninth properties, respectively. Since launching in 2015, DAD has grown rapidly; these additions help the company surpass its 2017 goal, just halfway through the year.
“Our two newest hotels are perfect additions to DAD’s growing list of properties in popular tourist destinations and really underscore our success in 2017,” said Carlos Rodriguez, CEO of DAD. “Just halfway through the year, we’ve already exceeded our hotel acquisition goal for 2017, and we can’t wait to see what the second part of the year has to offer. It’s an exciting time for our company and it’s wonderful that our newest hotels in Daytona Beach and St. Augustine will be part of our story moving forward.”
Hampton Inn Daytona Beach/Beachfront
Hampton Inn Daytona Beach/Beachfront is located on the white sands of Florida’s Atlantic Coast – often referred to as “The World’s Most Famous Beach.” The resort provides guests with direct beach access and is walking distance from popular hotspots like the Daytona Beach Boardwalk and Ocean Shoppes.
The property is conveniently located near three major airports – Daytona Beach International Airport, Orlando Sanford International Airport and Orlando International Airport – as well as major highways such as I-95 and I-4, making Daytona Beach one of the most accessible beachfront destinations in Florida.
Daytona Beach is a preferred location in the business community, as well, with its pleasant year-round weather, low cost of living and famous local attractions. Most notably the Daytona International Speedway, which attracts millions of tourists to the city with the popular Daytona 500 event and NASCAR Spring Cup. The city’s 35,000 square foot convention center – Ocean Center – is located just a mile south of the property and hosts thousands of attendees yearly.
Renovated in 2013, the oceanfront property is comprised of 91 guestrooms, of which 84 feature uninterrupted oceanfront views. Guests will enjoy an on-site fitness facility, meeting room, whirlpool, heated outdoor pool, pool deck with bar, fire pit and children’s splash pad.
DoubleTree by Hilton Historic District
DoubleTree by Hilton Historic District is a four-star property ranked number four out of the 77 surrounding hotels on TripAdvisor. DAD’s newest acquisition features comfortable and convenient amenities with a sophisticated layout that reflects the city’s charm. The property offers more than 2,700 square feet of function/meeting space, a business center, free Wi-Fi, a fitness center, outdoor restaurant and signature restaurant, Oak Room & Lounge.
The hotel underwent an $8.2 million renovation in 2014, replacing all mechanical, electrical and plumbing and expanded the footprint of the first floor, allowing the hotel to gain a competitive advantage in attracting more visitors.
Located at the intersection of San Marco Avenue and Old Mission Avenue, the DoubleTree by Hilton Historic District is within walking distance of St. Augustine’s shops, restaurants and pristine beaches. The hotel’s location on the main thoroughfare permits clear visibility and access to nearby landmarks including, Castillo de San Marcos, Flagler College and Ponce de Leon’s Fountain of Youth Archeological Park – allowing guests to admire the stunning Spanish architecture of the historic city.
DAD’s Investment Strategy
DAD has created a unique business model to deliver high-yielding institutional quality hotel investments to accredited investors. The company finds and quickly acquires the best opportunities in the U.S. hotel market with its own capital. Once these hotels are secured and under management, DAD opens each asset to individuals to decide if its right for them and the amount they want to invest.
For more information on DAD, please visit www.dadlp.com.
Both properties will be operated by DAD’s affiliate management company, Driftwood Hospitality Management (DHM).
Tags: driftwood hospitality management,
doubletree by hilton
DHM currently manages approximately 40 hotels with more than 8,000 rooms throughout the United States and Costa Rica. The portfolio includes a broad cross-section of branded hotels ranging from large full-service to mid-size, extended stay and limited-service properties, as well as independent hotels, boutiques and resorts. The members of the company's senior management team have an average of 20 years of experience in all segments of the lodging industry and have proven highly successful in the development of new hotels and hotel takeovers, as well as the re-positioning and optimization of hotel operations.
For more information on DHM, please visit www.driftwoodhospitality.com.
Contact: Matt Ritter
Driftwood Acquisitions & Development to Build New 200-Room Canopy by Hilton in Tempe, Arizona
DoubleTree by Hilton Adds Two U.S. Hotels and One U.K. Hotel to Portfolio
Hilton Launches Africa Growth Initiative with Expectation of Adding 100 Properties Over the Next Five Years
Four Points by Sheraton Boston Logan Airport Completes Renovation Led by General Manager Michael Buddemeyer
Driftwood Hospitality Management Completes Phase One of The Saratoga Hilton's Renovation
Owned by Dubai Properties, DoubleTree by Hilton Opens in Bay Square, Dubai
Driftwood Hospitality Management and American Opportunity Regional Center ‘Top-Off’ Doubletree by Hilton in Doral, Florida
RAR Hospitality Names Mike DiNucci Director of Sales for the “Coming Soon” DoubleTree by Hilton Phoenix North
Driftwood Hospitality Completes Property Wide Renovations for the Hilton Washington DC/Rockville Hotel & Executive Meeting Center
DoubleTree by Hilton Gainesville Opens Near University of Florida Campus Following Complete Renovation
American Opportunity Regional Center and Driftwood Hospitality Management Break Ground on Doral DoubleTree in Miami
Driftwood Hospitality Management Acquires First Two Properties as Part of New "DAD" Affiliate
Driftwood Opens DoubleTree by Hilton in Austin, TX after Multi-Million Dollar Transformation
Hampton Inn & Suites to Debut in Hawaii with Development of 175-key Hotel as Part of Ka Makana Ali'i
Dual-Branded 352-key Hampton Inn & Homewood Suites by Hilton Chicago Downtown/Magnificent Mile Opens
Rizo Hotels Opens New 79-room Hampton Inn Carrizo Springs in Carrizo Springs, Texas
SKS Group & Hilton Enter Agreement to Expand DoubleTree by Hilton Portfolio in Australasia
The Broadway Columbia - a DoubleTree by Hilton, Opens; Owned by David Parmley of Broadway Lodging
Ground Broken for 103-room Hampton Inn & Suites-Dallas/Frisco North-Fieldhouse USA in Texas
Summit Hotel Properties Closes Three Acquisitions and Completes the Disposition of Five Hotels
Please login or register to post a comment.