George Seli

🏠 Driftwood Capital launched its Driftwood Lifestyle & Luxury Division (DLLUX) in February, managing 12 assets, with $2 billion invested since 2019 in luxury and lifestyle projects, including the Westin Resort & Spa Cocoa Beach and Dream Miami. Alinio Azevedo, Managing Director, indicated that luxury hotels saw a 29% ADR increase from 2019 to 2023, with branded residences growing by 160% over a decade. DLLUX has a dedicated fund (DLLX) targeting over $3 billion in investments, focusing on luxury hospitality assets and branded residential properties.

📱 Vinny Patel, CEO of VMV Capital, specializes in extended-stay hotels in the Southeastern U.S. He opened the 88-room Extended Stay America Premier Suites Greenville – Spartanburg – I-85 in December 2023, emphasizing strong Gross Operating Profit (GOP) and Return on Investment (ROI) margins. The Premier Suites brand, launched by Extended Stay America in 2021, features upgraded amenities. Patel's management strategies focus on guest experience, financial management, property maintenance, and talent development. The Greenville – Spartanburg location benefits from the local manufacturing industry and the Sun Belt growth trend, expecting to end 2025 with a double-digit percentage increase in Revenue Per Available Room (RevPAR). Patel underscores the importance of franchisor support, brand consistency, and understanding extended-stay nuances for success.

🎶 In September, Sheraton Grand Nashville Downtown completed a transformation which included redesigning all 494 guestrooms and suites, revamping meeting and event venues, adding communal spaces, and improving F&B experiences. The project was managed by Looney & Associates and is part of Sheraton Hotels' global brand revitalization. It aims to create a welcoming atmosphere for both guests and locals, integrating contemporary aesthetics with Southern hospitality, and including design features like a communal table with built-in outlets and local art installations.