Driftwood Management Acquires 249-room Hilton Raleigh-Durham Airport

Third Acquisition Under a Q3 2011 Joint Venture with Apollo Global Management

• 
  SAVE
• 
  SHARE
• 
  TEXT SIZE
• 
  PRINT
• 
  COMMENT
• 
  PDF

. April 03, 2012

North Palm Beach, FL - April 2, 2012 - Driftwood Hospitality Management today announced the acquisition of the Hilton Raleigh-Durham Airport at Research Triangle Park. The 249-room property joins the Sheraton Columbus Hotel at Capitol Square and DoubleTree by Hilton Downtown Wilmington Legal District as Driftwood's third acquisition under a Q3 2011 joint venture with Apollo Global Management, LLC. The property is the third addition to Driftwood's portfolio in the last 30 days.

“The Hilton Raleigh-Durham Airport at Research Triangle Park aligns perfectly with Driftwood's expansion plans, as it is a terrific footprint in one of the nation's most impressive emerging markets,” said Steven Johnson, EVP of Acquisitions for Driftwood. “The Research Triangle is a hotbed of renowned corporations, universities and facilities and we could not be happier to bring The Driftwood Difference to the area.”

The 249-room Hilton Raleigh-Durham Airport at Research Triangle Park, located just three miles from the Raleigh-Durham International Airport, is ideal for business travelers seeking a prime location combined with comfortable accommodations and unrivaled amenities. The hotel boasts 3,200 square-feet of flexible function space, wireless Internet access and a business center. Its proximity to Research Triangle Park makes meetings a breeze at the area's global powerhouse brands, including IBM, GlaxoSmithKline, General Electric, Deloitte and Cisco Systems, among others.

Nearby entertainment offerings are robust, as well, including the RBC Entertainment Center, Time Warner Cable Music Pavilion and the Durham Performing Arts Center. Within 15 miles of the hotel are several top-rated colleges and universities, including the University of North Carolina Chapel Hill, North Carolina State University, North Carolina Central University and Duke University.

For more information, visit www.TheDriftwoodDifference.com.

About Driftwood Hospitality Management
Based in North Palm Beach, Fla., Driftwood Hospitality Management, LLC is a leader in providing solutions-based services for the domestic and international hotel industry. Guided by The Driftwood Difference - Flexibility, Diversity, Integrity, Accessibility, Originality, the company covers the full spectrum of lodging business needs. From full-service, upscale and upper-upscale hotels to mid-size extended-stay, select and limited-service properties, Driftwood's portfolio represents virtually every segment of the hospitality industry. Focused on strategic acquisition, development, third-party management, asset management and receivership, Driftwood has extensive management experience and relationships with most major brands, including Starwood Hotels & Resorts Worldwide, Hilton Worldwide, InterContinental Hotels Group, Inc., Carlson, Choice Hotels International, Inc. and Wyndham Worldwide. With additional offices in Costa Rica, Scottsdale, Ariz. and Miami, Fla., the company and its hotels have received more than 20 industry awards in the past three years.