Driftwood Acquisitions & Development To Build New Lifestyle Hotel in Arizona

Canopy by Hilton Says Hello to Tempe

MIAMI, Fla. and MCLEAN, Va. – January 24, 2018 – Driftwood Acquisitions & Development (DAD), a company with decades of hospitality experience and a strategic focus on hotel and resort acquisitions, today announced plans to build a new Canopy by Hilton (NYSE: HLT) in Tempe, Arizona. The $60M+, 200-room Canopy by Hilton Tempe Downtown, University Area is in the heart of Tempe on University Drive, across the street from Arizona State University (ASU), one of the largest public university campuses by enrollment in the United States. DAD is purchasing the land parcel from The OPUS Group to anchor a corner of OPUS’ highly anticipated full block, mixed-use development Union Tempe, featuring two residential high-rise apartment towers connected to 31,000 sq. ft. of retail and restaurant space.

Located five miles from the Phoenix Sky Harbor International Airport, the property’s central location will provide guests with easy access to some of the city’s finest shopping centers, culinary offerings, entertainment centers such as the Wells Fargo Arena, and local landmarks including Tempe Beach Park, Tempe Town Lake, Jaycee Park and Hayden Butte.

When it opens, Canopy by Hilton Tempe Downtown, University Area will span 14 floors and feature a lobby-level café, a gym, more than 3,000 sq. ft. of meeting space, a rooftop pool and terrace bar, cabanas and a fire pit. The hotel, which will be managed by DAD’s affiliate, Driftwood Hospitality Management (DHM), is expected to break ground in May of 2018 and is slated to open its doors by December of 2019. This is Driftwood’s second Canopy by Hilton project – its first, the Canopy by Hilton West Palm Beach, broke ground in Q4 2017.

“Tempe is a thriving and energetic community, and this project demonstrates our continued belief in the long-term future of the area,” said Carlos Rodriguez, CEO of Driftwood Acquisitions & Development. “This property will be an exciting addition to the downtown area, encouraging guests to live like locals. We are pleased to once again work with the Canopy team at Hilton, and we can’t wait to get started.”

“The Canopy by Hilton Tempe Downtown, University Area will be a perfect complement in completing our mixed-use vision for Union Tempe,” said Brett Hopper, Sr. Director Real Estate Development of Opus Development Company.  “This is exactly the concept we were envisioning, and we’re excited to bring this innovative hotel with its unique design to Downtown Tempe.”

Canopy by Hilton is a lifestyle brand that embraces its locale, providing guests with authentic and unique local experiences. Each Canopy property is designed as a natural extension of its neighborhood with connections to local art, food, drink and culture. Guests will have access to mobile check-in, complimentary Wi-Fi, complimentary breakfast, and evening tastings of local wines, beers and spirits during their stay. Upon check-in, guests will receive a welcome gift inspired by the destination.

“We are thrilled to bring Canopy by Hilton to the Arizona State University and downtown community,” said Gary Steffen, global head, Canopy by Hilton. “The Tempe neighborhood perfectly aligns with our ethos, extending a love of local and fresh approach to hospitality, and is an ideal anchor for our lifestyle brand in Arizona.”

Allen + Philp is the architect and designer of record, Sundt Construction, Inc. is the general contractor, and EoA, Inc. is the interior design firm for the development.

For more information on DAD, please visit www.dadlp.com.