Florida firm buys Scottsdale resort, plans major renovations

Posted at 8:41 AM, Feb 15, 2022
and last updated 2022-02-15 10:41:26-05

Florida-based Driftwood Capital bought the Scottsdale Resort at McCormick Ranch and is planning a major renovation and conversion of the resort to a Curio by Hilton.

Driftwood Capital bought the 16-acre resort for $113 million on Feb. 10 from an entity of Hong Kong-based Junson Capital, according to Maricopa County records. The acquisition was Driftwood’s largest to date. The company has two other properties in the Valley. It was a co-developer of the Canopy by Hilton Tempe Downtown and owns the Doubletree Suites by Hilton Phoenix Airport Hotel. The Scottsdale Resort at McCormick Ranch previously operated under the Hyatt flag.

“We’ve liked the market in general,” Carlos Rodriguez Sr., founder, chairman and CEO of Driftwood, said. “We’ve always liked Scottsdale, so when this one came up, we jumped on it.”

The company plans to commence a major renovation in early summer after the peak travel season has ended. The renovation will take the number of rooms down from 326 to 278 keys, as some of the casitas will be combined to make the suites larger and nicer, Rodriguez said. The renovation will also include giving the pool a “whole resort atmosphere” and completely revamping the spa and fitness area.

Read more of this story from the Business Journal.