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).