MIAMI, Florida—Driftwood Capital launched its new Driftwood Way of life & Luxurious Division (DLLUX). A brand new platform encompassing administration, funding, and improvement, DLLUX is led by the previous CEO of Aspen Hospitality, Alinio Azevedo. At launch, DLLUX will assume oversight of 12 property presently managed by Driftwood Hospitality Administration, eight of that are additionally owned by Driftwood-sponsored funds. The launch of DLLUX is a transfer by Driftwood into the posh, way of life, and branded residences sector, wherein, since 2019, the agency has undertaken greater than $2 billion in funding with developments just like the Westin Resort & Spa Cocoa Seaside, Florida; Dream Miami; Cover by Hilton West Palm Seaside; and Cover by Hilton Tempe; in addition to repositionings like The Scottsdale Resort & Spa and the Lodge Rumbao, a Tribute Portfolio Lodge by Marriott in San Juan, Puerto Rico.
Along with the operational consolidation, Driftwood is about to launch a devoted funding fund concentrating on way of life, luxurious, and branded residences, which might be led by Azevedo. The brand new fund will goal markets throughout the US and choose worldwide markets that match the fund’s standards. With deliberate capital deployments of over $3 billion, the fund will spend money on property that align with the evolving tastes of vacationers.
“Journey is evolving in direction of extra immersive and bespoke experiences,” stated Azevedo. “Our fund is designed to faucet into this pattern, providing a disciplined method to progress and guaranteeing Driftwood stays on the forefront of the upscale hospitality market.”
Azevedo started his profession in hospitality with Carlos Rodriguez, Sr. at Cardel Inns. His luxurious hospitality expertise additionally consists of main improvement and acquisitions efforts within the Americas for 4 Seasons Inns & Resorts, in addition to spearheading enlargement efforts for Loews Inns in Miami and New York. Extra not too long ago, Azevedo served because the CEO of Aspen Hospitality, the place he led the corporate’s administration and enlargement methods whereas overseeing operations of its portfolio of owned and operated accommodations, residences, and personal ski golf equipment, together with the Little Nell Aspen, Little Nell New York, and the expansion of the Limelight model.
“Driftwood is reinforcing its dedication to delivering elevated experiences that resonate with right now’s discerning traveler whereas aligning our traders with the place we see the best progress alternatives in hospitality investing,” stated Carlos Rodriguez, Sr., chairman and CEO, Driftwood Capital.
Carlos Rodriguez Jr., president and COO, Driftwood, stated, “By unifying our property underneath a single, targeted platform, we’re higher geared up to answer market tendencies and ship superior returns to our traders.”