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Driftwood Capital Opens Component by Westin Melbourne Oceanfront Hotel

MELBOURNE, Florida—Driftwood Capital launched the substantial opening of the Component by Westin Melbourne Oceanfront resort, a 130-key resort in Melbourne, Florida. Part of a $1 billion pipeline of properties Driftwood Capital is creating throughout 2024, the resort is the agency’s fourth funding in Florida’s Region Waft.

“As we proceed our disciplined methodology on resort trends nationwide, the Component by Westin Melbourne Oceanfront will wait on to enhance our existing portfolio of investments, especially in the Region Waft, as an indicator of our crew’s most inspiring-in-class skills in resort trends,” mentioned Carlos Rodriguez Sr., chairman and CEO of Driftwood Capital. “With this most up-to-date beachfront resort type—the first waterfront resort in Brevard County since 2020 and the first beachfront Component by Westin in the emblem system globally—we glance forward to continuing to develop our presence and investments in this compelling market. We’re proud to assert the resort on time and on finances, a serious fulfillment in on the present time’s no longer easy type market.”

Driftwood Hospitality Management (DHM) will mediate administration operations and tasks of the resort, which is the first Westin beachfront property in the emblem’s global system. With the addition of the Component by Westin Melbourne Oceanfront, DHM now oversees 90 properties within its portfolio.

“With our mammoth fluctuate of skills in managing and working motels domestically and in a single other nation, the DHM crew is thrilled to proceed handing over the very supreme mark standards for industry and leisure vacationers alike visiting Florida’s Region Waft,” mentioned David Buddemeyer, founder and president of Driftwood Hospitality Management. “We glance forward to growing our presence on one other beachfront property in Brevard County.”

Just a few financial categories own elevated demand for resort rooms in Melbourne and Brevard County, with increased tourism on the horizon. In 2023, almost about 750,000 passengers flew by Melbourne Orlando International Airport reported the metropolis of Melbourne, with 7.3 million cruise passengers expected to embark by Port Canaveral by 2024 reported the Port Canaveral 2023 Issue of the Port. In 2024, better than 40 rocket launches had been launched 12 months-to-date, and 111 missions are projected throughout the 12 months per Florida Lt. Governor Jeanette Nuñez, hanging the Region Waft heading in the suitable path to interrupt final 12 months’s yarn of 72 launches. These trends, coupled with the confirmed Brightline disclose predicament in Cocoa on the Cocoa Curve shut to Issue Avenue 528/US-1 interchange, are continuing to assemble market fundamentals for resort type in the region.

Built with wellness in mind, the resort offers facilities and products and services for industry and leisure vacationers. The Hotel contains “Upward thrust” breakfast with a diversity of culinary alternatives, along with a Movement Health Heart and complimentary bike leases. Traffic can skills Melbourne’s seaside environment on the resort’s saline pool deck, offering meals and beverage alternatives at Ebb & Waft. The resort is additionally currently applying for Inexperienced Key Certification.

The resort sits adjoining to the Crowne Plaza Melbourne, one other resort asset owned by Driftwood Capital. The property’s high predicament areas company shut to just a few points of interest and leisure venues. Melbourne Orlando International Airport and Patrick Region Power Harmful are decrease than 20 minutes away, with Brevard Zoo decrease than 25 minutes away.

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