MIAMI, Florida—Driftwood Capital launched its new Driftwood Lifestyle & Luxury Division (DLLUX). A new platform encompassing management, investment, and development, DLLUX is led by the former CEO of Aspen Hospitality, Alinio Azevedo. At launch, DLLUX will assume oversight of 12 assets currently managed by Driftwood Hospitality Management, eight of which are also owned by Driftwood-sponsored funds. The launch of DLLUX is a move by Driftwood into the luxury, lifestyle, and branded residences sector, in which, since 2019, the firm 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 Tempe; as well as repositionings like The Scottsdale Resort & Spa and the Hotel Rumbao, a Tribute Portfolio Hotel by Marriott in San Juan, Puerto Rico.
In addition to the operational consolidation, Driftwood is set to launch a dedicated investment fund targeting lifestyle, luxury, and branded residences, which will be led by Azevedo. The new fund will target markets across the United States and select international markets that fit the fund’s criteria. With planned capital deployments of over $3 billion, the fund will invest in assets that align with the evolving tastes of travelers.
“Travel is evolving towards more immersive and bespoke experiences,” said Azevedo. “Our fund is designed to tap into this trend, offering a disciplined approach to growth and ensuring Driftwood remains at the forefront of the upscale hospitality market.”
Azevedo began his career in hospitality with Carlos Rodriguez, Sr. at Cardel Hotels. His luxury hospitality experience also includes leading development and acquisitions efforts in the Americas for Four Seasons Hotels & Resorts, as well as spearheading expansion efforts for Loews Hotels in Miami and New York. More recently, Azevedo served as the CEO of Aspen Hospitality, where he led the company’s management and expansion strategies while overseeing operations of its portfolio of owned and operated hotels, residences, and private ski clubs, including the Little Nell Aspen, Little Nell New York, and the growth of the Limelight brand.
“Driftwood is reinforcing its commitment to delivering elevated experiences that resonate with today’s discerning traveler while aligning our investors with where we see the greatest growth opportunities in hospitality investing,” said Carlos Rodriguez, Sr., chairman and CEO, Driftwood Capital.
Carlos Rodriguez Jr., president and COO, Driftwood, said, “By unifying our assets under a single, focused platform, we are better equipped to respond to market trends and deliver superior returns to our investors.”