Driftwood Capital breaks ground on the Element Melbourne Hotel

Driftwood Capital has broken ground on the Element by Westin, a new 130-key extended-stay hotel located on prime oceanfront property in Melbourne, Fla., one of the beach towns along Florida’s popular “Space Coast.”

The property is being built on the 2.56-acre site of a former parking lot located at 2605 N. Highway A1A in Melbourne, Fla., adjacent to The Crowne Plaza Melbourne, another property owned and operated by Driftwood Capital. It is the first Marriott-branded hotel in Melbourne Beach.

Construction and operation of the hotel will create about 200 new jobs.

In Brevard County, Driftwood also owns the Hilton Cocoa Beach and the International Palms Resort and Conference Center in Cocoa Beach, Fla., which will soon be replaced with a new, 4.5-star, $388 million Westin resort and convention center.

“After many years of planning, it’s always exciting to get the shovels in the ground,” said Carlos Rodriguez Sr., CEO of Driftwood Capital.  “On