Driftwood Acquisitions & Development Acquires Hlton/Dallas Rockwell Lakefront and Sheraton Detroit Novi Hotel
December 4, 2017 12:01pm
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 be rebranded as a Margaritaville Resort.
“We are excited to expand into Dallas and Detroit – two rapidly growing tourism markets with tremendous potential,” said Carlos Rodriguez, CEO of DAD. “These recent acquisitions underscore the momentum we’ve achieved over the last year and show how well positioned we are for future success. We have proven that our business model can deliver meaningful returns to our investors and we look forward to bringing our clients new opportunities as we continue building a diverse portfolio.”
Hilton Dallas/Rockwall Lakefront
Hilton Dallas/Rockwall Lakefront overlooks picturesque Lake Ray Hubbard – one of the largest lakes in North Texas, spanning 22,000 acres – boasting scenic sunrises and sunsets, as well as stunning views of the Dallas skyline. The resort is within walking distance of Harbor Rockwall, a waterfront entertainment venue offering guests a variety of dining, shopping and entertainment options.
Located within proximity of two major airports – Dallas/Fort Worth International Airport and Dallas Love Field – as well as major highways I-635 and I-30, Hilton Dallas/Rockwall Lakefront features 231 rooms and twelve suites with large sitting rooms and balconies providing panoramic views of Lake Ray Hubbard and the Harbor. An ideal venue for any type of social or corporate event with more than 28,000 square feet of flexible space, the property’s 17 individual function rooms combine modern business facilities with dramatic waterfront views. A 52-seat amphitheater features individual laptop and internet connections.
Hotel amenities include complimentary self-parking and Wi-Fi, a fully-equipped fitness center, an outdoor swimming pool, poolside cabanas, C&B Scene bar and lounge, and on-site dining at Heirloom Kitchen, specializing in unique farm-to-fork cuisine.
Sheraton Detroit Novi Hotel
The Sheraton Detroit Novi Hotel, which was renovated in 2014, welcomes guests with an array of inspired, comfortable amenities and refined accommodations, offering an accessible location from which to explore greater Detroit.
Ideally situated at 8-Mile road and Interstate 275, the Sheraton Detroit Novi Hotel provides easy access to Downtown Detroit’s dining, shopping, entertainment centers – including Ford Field, home of the Detroit Lions and Little Caesar’s Arena, the multi-purpose arena of the Detroit Red Wings and the Detroit Pistons. Hotel guests can explore the area’s casino district and try their luck across the river at Caesar’s Windsor Casino in Windsor, Canada. Nearby cultural centers include The Henry Ford Museum of American Innovation, Greenfield Village and the Detroit Institute of Arts Museum.
The property is comprised of 238 guestrooms – including two suites. Guests enjoy a full-service business center, which offers the convenience of on-site shipping and printing, 20,000 square feet of function space, complimentary self-parking, a 24-hour fitness center, an indoor pool and whirlpool, and signature restaurant Twenty-One-One-Eleven, serving breakfast, lunch and dinner.
Unique DAD Investment Platform Launches Online
In addition to these acquisitions, DAD recently brought its innovative investment model online, with a new digital platform. Through the new site, accredited investors can invest in specific properties that are part of DAD’s portfolio, seamlessly managing those investments in a simple, secure online environment. Tan-Tar-A Resort – acquired by DAD in June 2017 – was the first available investment opportunity to debut on the new site. The Hilton Dallas/Rockwall Lakefront and Sheraton Detroit Novi Hotel are both now live online, as additional investment opportunities.
“This year has been tremendous for us, seeing dreams we laid out just two years ago turning into a reality,” said Rodriguez. “Today, we celebrate a year of outstanding progress for us and our investors, and we set our sights on what we expect will be another record-setting year in 2018!”
For more information on DAD and the company’s recent acquisitions, please visit www.dadlp.com.
Tags: driftwood acquisitions & development,
hilton dallasrockwall lakefront,
sheraton detroit novi hotel,
Driftwood Acquisitions & Development, LP – known as DAD to its investors and associates – is a Miami, Florida-based company with a first-of-its-kind business model, providing the perfect vehicle for accredited investors to co-invest in institutional quality cash flowing hotel assets. 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 individual clients to participate, allowing the investor to build his or her own portfolio rather than investing in traditional blind pools. This eliminates risk factors and uncertainty, providing an innovative vehicle to strategically invest in hotel opportunities.
In addition to this acquisitions business model, DAD is a reputable leader in the EB-5 Investor program, a government initiative to attract foreign investment to create jobs in the U.S. Through this program, DAD has helped foreign investors get their U.S. residency and created hundreds of jobs in South Florida by developing EB-5 qualified hotels.
Since launching in 2015, DAD has seen continued solid growth. The company’s portfolio today totals eleven acquisitions and four new-build developments, with a pipeline of many other diverse hotel and resort properties across the United States.
Contact: Matt Ritter
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