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Once the pandemic hit, many investors waited, patiently, for opportunities to buy assets at a discount. There was a widespread expectation that a wave of distressed assets would come to market, as happened following the Financial Crisis. The wave never crashed ashore. In the hotel sector, the absence of reduced pricing has halted investment activity, despite being one of the asset classes hardest hit by the pandemic.

Driftwood Capital added six hotel assets to its portfolio last year, finding value opportunities where it can. “Challenging times present opportunities to unlock value, so that what’s driving our investment activities and appetite for hospitality assets in general,” Carlos Rodriguez Sr., CEO of Driftwood Capital in Miami, tells GlobeSt.com. “The deep discounts that most industry experts were predicting [in 2020] never fully manifested—but there were some discounts to be had and we were able to capitalize on that.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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