MIAMI, Dec. 1, 2016 /PRNewswire/ -- Driftwood Acquisitions and Development (DAD), an affiliate of Driftwood Hospitality Management (DHM), celebrated its first anniversary today with a day-long event at The Biltmore Hotel in Coral Gables, FL. Capping off a successful year, this celebratory day included exciting announcements made by DAD executives on recent hotel acquisitions and new-builds that form part of DAD's exciting hotel co-investment-program.
"This has been an exceptional year for Driftwood Acquisitions and Development, attributable in large part to our partners and investors," said Carlos Rodriguez, CEO and general partner of DAD. "The amount of deals we have been able to secure and syndicate, coupled with the continued interest from accredited investors worldwide, as exemplified by the turnout today, validates the model we have created for individuals to participate in hotel investments across the U.S.
Over the past year, DAD has acquired seven hotels across the United States, including International Palms Resort Cocoa Beach, Sheraton Salt Lake City and Saratoga Springs Hilton. DAD also acquired several development sites for new-build properties that will be completed in 2017, which includes the Doral DoubleTree by Hilton, DoubleTree by Hilton Ft. Lauderdale Airport and Tru/Home2 Suites by Hilton Ft. Lauderdale ─ totaling $200M in assets. These contracts were executed with more than 100 accredited investors with an entrance price of investment as low as $100K each, raising $30M plus in capital. In less than five years, DAD expects their portfolio to control and manage over $1B of hotel assets.
"As we look ahead to 2017, I anticipate the company's growth to continue, as we are seeing terrific new opportunities for partners and investors in the upcoming year," said Rodriguez.
DAD will be offering its latest deals via its newly created website portal. This portal will be a tool to help manage the increasing volume of investors, as well as to help capture additional accredited investors worldwide. Unlike other crowdfunding platforms, this is a white-label solution created for their own deals only.
DAD sources, structures and acquires each hotel investment opportunity entirely with its own resources and capital. Once DAD owns and controls the asset, with the DHM team operating the hotel, it turns around and syndicates the newly acquired opportunity to its network of accredited investors at the same purchase price. For hotel developments, DAD accepts accredited investors via the EB5 Visa Program, and has established its own EB5 division to capture and manage those clients directly as it seeks to ensure maximum transparency and security for its investors.
Today's anniversary events included guest speakers Shawn Grenley of Smith Travel Research, Bill Fortier, senior vice president, development, Americas for Hilton Worldwide; Daniel Peek, senior managing director, HFF; Ira Weidhorn, co-head and managing director, HIG Realty Partners; and Steve DeRose, senior vice president of Loan Origination, Starwood Mortgage Capital. These industry experts spoke about the current outlook facing the national lodging sector and the value DAD's new investment program will have on investors and the hotel industry.
Driftwood Hospitality is a vertically integrated hotel conglomerate comprised of Driftwood Hospitality Management (DHM), a leading hotel management company, and Driftwood Acquisitions and Development (DAD), a privately held investment fund designed to acquire and develop hotel assets throughout the United States with a growing network of Accredited Investors.
DHM currently operates approximately 40 hotels with more than 8,000 rooms throughout the United States with a portfolio that 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. DHM uses its extensive management experience and relationships with most major brands, including Hilton Worldwide, Marriott International, Starwood Hotels & Resorts Worldwide, InterContinental Hotels Group, Inc., Choice Hotels International, Inc. and Wyndham Worldwide, to assist owners with all aspects of property management. Members of the company's senior management team have an average of 20 years of experience in all segments of the lodging industry.
While DHM continues to grow its portfolio of hotels under management with institutional fund investments and third party management services, DAD was specifically formed to attract High Net Worth individuals and small investment groups looking for stabilized, cash-flowing hotels with upside that yield over 10% annual dividends and a 15% annualized return to investors. With 7 hotels purchased in the last year and the capacity to scale to over $1BB of hotel assets in a short period, DAD is poised for exponential growth with investors that seek quality deals with solid fundamentals and a small-ticket entry point of $100k per hotel. DAD is also active with EB-5 investments to help finance a long pipeline of premiere hotel development sites.
For additional information please visit http://driftwoodhospitality.com/
Matt Ritter / Sylvia Kindlain
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SOURCE Driftwood Acquisitions and Development