COCOA BEACH, Florida—Driftwood Capital (Driftwood) introduced the profitable structural high off of the Westin Cocoa Seaside Resort & Spa, a ~$420 million improvement on Florida’s Area Coast. The 502-key resort is now 45 % accomplished and at present on observe for completion within the third quarter of 2027. Driftwood Hospitality Administration (DHM) is anticipated to imagine operations upon the opening of the property.
After breaking floor in September 2024, the Westin Cocoa Seaside Resort & Spa is Driftwood’s newest venture in a decade-long presence all through Florida’s Area Coast. Working with normal contractor KAST Development and architectural agency Gensler, Driftwood is about to personal roughly 62 % of the area’s beachfront stock and 11 % of its whole resort stock as soon as the event is accomplished, per latest market knowledge.
“This achievement marks a continued customary of excellence for improvement on Florida’s Area Coast, delivering a particular venture that’s anticipated to fulfill the area’s rising calls for and showcase its evolution in enterprise, expertise, tourism, and hospitality,” mentioned Carlos Rodriguez Sr., chairman and chief govt officer of Driftwood. “We stay up for finishing the subsequent part of the Westin Cocoa Seaside Resort & Spa and contributing to the area’s ongoing success as a key financial driver for the state.”
To commemorate the milestone, Driftwood hosted a conventional topping-off ceremony on the development web site, bringing collectively greater than 350 development staff, venture companions, and company.
Property Particulars
The Westin Cocoa Seaside Resort & Spa will sit on 15.7 acres of oceanfront property. The resort will convey greater than 72,000 sq. toes of open-air venues for conferences and occasions, complemented by 51,500 sq. toes of indoor house designed for gatherings and conferences.
Facilities on the resort will embody:
- 11 meals and beverage venues, together with themed eating places.
- Spa
- Browsing wave pool
- Swimming swimming pools
- Tennis and pickleball courts
- Health heart with cardio and weights
- A number of retail choices
- A multistory parking storage to accommodate about 800 autos.
The Westin Cocoa Seaside Resort & Spa is anticipated to generate roughly $3 million in vacationer taxes in its first yr of operation and $4.5 million a yr by its fifth yr of operation whereas creating roughly 1,800 direct and oblique jobs in its first yr (based mostly on preliminary assessments).
