MIAMI, Florida—Driftwood Capital launched its new Driftwood Life-style & Luxurious Division (DLLUX). A brand new platform encompassing administration, funding, and growth, DLLUX is led by the previous CEO of Aspen Hospitality, Alinio Azevedo. At launch, DLLUX will assume oversight of 12 belongings at the moment 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 luxurious, way of life, and branded residences sector, during which, 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 ready to launch a devoted funding fund focusing on way of life, luxurious, and branded residences, which can be led by Azevedo. The brand new fund will goal markets throughout america and choose worldwide markets that match the fund’s standards. With deliberate capital deployments of over $3 billion, the fund will put money into belongings that align with the evolving tastes of vacationers.
“Journey is evolving in direction of extra immersive and bespoke experiences,” mentioned Azevedo. “Our fund is designed to faucet into this development, providing a disciplined method to development and guaranteeing Driftwood stays on the forefront of the upscale hospitality market.”
Azevedo started his profession in hospitality with Carlos Rodriguez, Sr. at Cardel Lodges. His luxurious hospitality expertise additionally contains main growth and acquisitions efforts within the Americas for 4 Seasons Lodges & Resorts, in addition to spearheading growth efforts for Loews Lodges in Miami and New York. Extra lately, Azevedo served because the CEO of Aspen Hospitality, the place he led the corporate’s administration and growth 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 immediately’s discerning traveler whereas aligning our traders with the place we see the best development alternatives in hospitality investing,” mentioned Carlos Rodriguez, Sr., chairman and CEO, Driftwood Capital.
Carlos Rodriguez Jr., president and COO, Driftwood, mentioned, “By unifying our belongings beneath a single, centered platform, we’re higher outfitted to reply to market traits and ship superior returns to our traders.”
