Driftwood Acquisitions and Development, Merrimac Ventures Break Ground on Dual-Branded Tru by Hilton and Home2 Suites by Hilton Hotel in Fort Lauderdale

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USA, Fort Lauderdale, Florida. June 14, 2018

Driftwood Acquisitions & Development
(DAD), an innovative hospitality industry leader with decades of
experience and a strategic focus on hotel and resort acquisitions, has
celebrated the groundbreaking of its $50M+ dual-branded Tru by Hilton
and Home2 Suites by Hilton hotel in Fort Lauderdale, Florida. Located at
315 NW 1st Avenue, the property will be managed by DAD's North Palm
Beach management arm - Driftwood Hospitality Management
(DHM) - and is expected to open in early 2020, merging two of Hilton's
popular brands in the vibrant Flagler Village neighborhood in downtown
Fort Lauderdale. A festive groundbreaking event took place, welcoming
more than 60 attendees, including representatives from Hilton, Merrimac
Ventures (Driftwood's co-developers and GP partners), as well as local
dignitaries and special guests.

“Fort Lauderdale is booming with development and undergoing an
extensive urban revitalization, and this unique dual-branded hotel is
the perfect addition to the area,” said Carlos Rodriguez, CEO of DAD.
“We are pleased to be working with our partners at Hilton once again,
creating an exciting new destination for a cross-generation of leisure
and business travelers to visit while exploring all that the area has to
offer.”

Tru is Hilton's newest midscale offering, providing young travelers a
colorful design language with an emphasis on personalization, and
efficient guestroom layouts in an amenity-rich building. Home2 Suites is
Hilton's midscale all-suite hotel brand, featuring contemporary
accommodations and customizable guest room design.

“We are excited to celebrate the continued expansion of our
dual-branded hotel portfolio, as well as this unique new property in the
Downtown Fort Lauderdale market,” said Isaac Lake, director of key
partners for Hilton.“The Tru and Home2 Suites brands perfectly
complement each other, providing guests with a game-changing,
contemporary, fresh experience in an affordable way.  We look forward to
our growing partnership with Driftwood and working together to make
this property a success.”

When it opens, the new-build hotel will rise to 19 stories and feature two distinctive lobbies - each of which will boast its own breakfast bar, lounge, and other brand-specific amenities. The lobbies will be connected by an indoor corridor and will share the same elevator bank. The property will also offer 102 parking spaces available to guests for a nightly rate, an outdoor pool deck complemented by an outdoor bar, a fitness center, and 4,843 square feet of private event and conference space.

Upon completion, the property will feature 112 Tru guestrooms and 106 Home2 Suites guestrooms. The Tru portion of the hotel will be designed to appeal cross-generationally, and complimentary amenities will include the brand's signature “Top It” breakfast, coffee and tea; mobile check-in and Digital Key available through the Hilton Honors mobile app; and segment-leading Wi-Fi bandwidth.

The pet-friendly Home2 Suites portion of the hotel will offer extended stay guests the amenities and services they need to feel comfortable, with the flexibility to customize their suite to their style and preference. Guestrooms will feature en-suite kitchens, and guests will enjoy complimentary Wi-Fi, inviting communal spaces, and more.  Trademark Home2 Suites amenities will be present, including Home2 MKT for grab-and-go items, and the Inspired Table, a complimentary daily breakfast that includes more than 400 potential combinations.

“We are excited to partner with Driftwood on this exciting dual-branded hotel, which will further activate Flagler Village and contribute to the momentum and energy already happening in the area,” said Dev Motwani, president and CEO of Merrimac Ventures.  “Our family has been in the hotel business in Fort Lauderdale Beach for over 30 years, starting with the Merrimac Hotel and now the Four Seasons, and we couldn't be more excited to expand our footprint into the downtown hospitality market with this project.”

Located five miles Fort Lauderdale-Hollywood International Airport, and less than a mile from the newly-opened Brightline downtown Fort Lauderdale high-speed train station, the property's central location will provide guests with easy access to some of the city's finest boutiques and restaurants on Las Olas Boulevard, and local landmarks including Fort Lauderdale Beach, Hugh Taylor Birch State Park, Bonnet House, Florida Atlantic University and Keiser University.