Driftwood Capital Adds Hotel Indigo at Galleria to Portfolio

Hospitality firm Driftwood Capital recently acquired the Hotel Indigo Houston at the Galleria, a 131-key hotel located in the Uptown submarket. Driftwood acquired the property through its acquisition GP fund, which targets hotel acquisition opportunities in the $30 million to $150 million range.

The property will be open for syndication beginning on September 1 with a minimum investment of $50,000. Driftwood Capital retains a 10 percent stake in all investments.

“The hotel is well-situated in one of the largest business districts in the nation and nearby the Galleria Mall, Texas’ largest shopping mall, providing multiple demand drivers for a hospitality asset that meets the needs of this cosmopolitan neighborhood,” said Carlos J. Rodriguez Sr., CEO of Driftwood Capital. “With over 23 million square feet of office space and nearby tenants including General Electric, BBVA Compass and Marathon Oil, the tourism and business sectors concentrated in this area will allow us to realize considerable investment gains while providing a newly branded and modern hotel to the community.” 

Built in 2001 and renovated in 2009, the Hotel Indigo is located at 5160 Hidalgo St. The hotel features more than 3,000 square feet of meeting space, four meeting rooms, a fitness center and an on-site restaurant. Nearby transit routes include Interstate 610 and Interstate 69.

This is the fourth hotel property that Driftwood Capital has added to its growing portfolio in the last 12 months. Earlier this year, the firm acquired the 248-key Hilton Southlake in Dallas. Driftwood has acquired 22 full-service hotels and developed seven new ground-up hotel projects since its inception.