Miami, Florida –Driftwood capital launched its new Driftwood Lifestyle & Luxury (DLLUX) division. A new platform encompassing management, investment and development, DLLUX is directed by the former CEO of Aspen Hospitality, Alio Azevedo. During the launch, DLLUX will monitor 12 assets currently managed by Driftwood Hospitality Management, of which eight also belong to funds sponsored by Driftwood. The launch of DLLUX is a Driftwood decision in the luxury, lifestyle and brand residences, in which, since 2019, the company has undertaken more than $ 2 billion in investment with developments like the Westin Resort & Spa Cocoa Beach, Florida; Dream Miami; Canopy by Hilton West Palm Beach; and canopy by Hilton Temple; As well as repositioning such as the Scottsdale Resort & Spa and the Rumbao hotel, a tribute portfolio hotel in Marriott in San Juan, Puerto Rico.
In addition to operational consolidation, Driftwood should launch a dedicated investment fund targeting lifestyle, luxury and brand residences, which will be led by Azevedo. The new fund will target markets across the United States and will select international markets that meet the criteria of the fund. With planned capital deployments of more than $ 3 billion, the fund will invest in assets that align with the evolutionary tastes of travelers.
“Travements are evolving towards more immersive and tailor -made experiences,” said Azevedo. “Our fund is designed to exploit this trend, offering a disciplined approach to growth and ensuring that Driftwood remains at the forefront of the high-end hospital market.”
Azevedo began his career in hospitality with Carlos Rodriguez, Sr. at Cardel Hotels. His luxury hospitality experience also includes the main development and acquisition efforts in the Americas for Four Seasons Hotels & Resorts, as well as the expansion efforts for Loews hotels in Miami and New York. More recently, Azevedo was CEO of Aspen Hospitality, where he managed the business management and expansion strategies while supervising the operations of his portfolio of hotels, residences and private ski clubs belonging and Operated, including the Little Nell Aspen, Little Nell New York, and the growth of the Limelight brand.
“Driftwood is strengthening its commitment to offer high experiences that resonate with the demanding traveler today while aligning our investors in the place where we see the greatest growth opportunities in hospitality investment,” said Carlos Rodriguez , Sr., President and CEO, capital of WRIFTWOOD.
Carlos Rodriguez Jr., President and COO, Driftwood, said: “By unifying our assets under a single targeted platform, we are better equipped to respond to market trends and offer yields superior to our investors.”