Driftwood Acquisitions and Development acquires first two hotels

Driftwood Hospitality Management acquired its first two hotels under its new Driftwood Acquisitions and Development affiliate. Both located in Central Florida, the Holiday Inn Express Orlando Airport and SpringHill Suites by Marriott Altamonte Springs will undergo renovation projects slated to commence in Q1.

The Holiday Inn Express Orlando Airport will start its renovation program in the coming weeks, with a transformation that will include the full Formula Blue concept, InterContinental Hotel Group’s new prototype design. The hotel will have open public spaces, integrated power and wireless charging stations throughout the hotel, a market station for on-the-go snacks and refreshments, a business center, a recreational pool fitness center and the Formula Blue’s staple noise reduction headboard.

SpringHill Suites by Marriott Altamonte Springs underwent a $1.9-million refresh in 2012 that included upgrades to the guestrooms and public spaces. As new owner, DAD has plans to implement a minor improvement plan which includes the lobby area and corridors. 

In addition to its first two acquisitions, DAD is pursuing other developments in Florida, including Miami and Fort Lauderdale. The company is projecting five additional acquisitions in new markets by the end of 2016.