The newly acquired Scottsdale Resort at McCormick Ranch
INVESTMENT
DRIFTWOOD
CEO sees the new light
CARLOS RODRIGUEZ , SR ., LEARNED SEVERAL LESSONS DURING COVID ABOUT COMMUNICATION AND LOYALTY . NOW , THE MIAMI-BASED MULTI-DISCIPLINED OPERATOR IS READY TO PUT THE PANDEMIC BEHIND AND KICKSTART GROWTH .
by JEFF WEINSTEIN , EDITOR IN CHIEF
When you invest , develop , lend and manage , you serve multiple constituents with different expectations . For Miami-based Driftwood Capital , which has transacted on more than US $ 3 billion in hospitality assets and uniquely provides a network of more than 1,200 accredited investors access to direct investing after deals close , the big takeaway about managing those expectations through the challenging past two years has been the importance of ongoing education and communication through all four of its platforms . As Carlos Rodriguez , Sr ., CEO of Driftwood Capital , puts it , “ At the end of the day , it ’ s all about trust and letting everyone know where you stand and what is happening .”
Especially for those investors who were looking for dividends and returns during the middle of the pandemic , Rodriguez says that constant communication about what actions were being taken to resolve challenges allowed Driftwood to build more trust . In fact , he firmly believes investors are more likely to invest with Driftwood again and at the very least stand by the organization and its decisions .
The good news is that Driftwood , which currently has a growing portfolio of some 23 full-service hotels and eight new ground-up hotel developments , continued to pay dividends on some of its properties during COVID , and in February Rodriguez said all Driftwood hotels throughout the pandemic stayed current with their banks . But , again , he emphasized how lines of communication were open and information was flowing with webinars , newsletters and more . “ Investors were very satisfied and happy with us ,” Rodriguez says , adding he had been through it before after 9 / 11 and again in 2008 . “ I can tell you we ’ ve never worked harder in our lives . We were doing re-forecasts for our
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