Investment business Driftwood Capital has launched its Driftwood Lifestyle & Luxury (DLLUX) division, a platform that includes management, investment, and development within the luxury hospitality sector.
The division is spearheaded by former Aspen Hospitality CEO Alinio Azevedo.
DLLUX will immediately take on the management of 12 assets currently overseen by Driftwood Hospitality Management. Of these, eight are owned by funds sponsored by Driftwood.
This strategic move marks Driftwood's increased focus on the luxury, lifestyle, and branded residences sector.
Since 2019, the company has committed more than $2bn to investments in this market, with developments such as the Westin Resort & Spa Cocoa Beach and Dream Miami.
Driftwood president and COO Carlos Rodriguez Jr 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.”
In parallel with the operational consolidation, Driftwood is preparing to launch a dedicated investment fund under Azevedo's leadership.
This fund will concentrate on the lifestyle, luxury, and branded residences sectors, targeting select international and US markets that meet its investment criteria.
With more than $3bn earmarked for capital deployment, the fund aims to invest in properties that cater to the sophisticated preferences of affluent travellers.
Azevedo said: “Travel is evolving towards more immersive and bespoke experiences.
“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's extensive background in hospitality includes his tenure at Cardel Hotels alongside Carlos Rodriguez, Driftwood Capital's senior chairman and CEO.
His experience also encompasses development and acquisitions in the Americas for Four Seasons Hotels & Resorts and leading expansion for Loews Hotels in Miami and New York.
Before joining DLLUX, Azevedo was instrumental in driving the management and expansion strategies at Aspen Hospitality.
