Carlos Rodriguez Sr., executive chairman of Driftwood Capital, began acquiring properties in Brevard County over a decade ago, anticipating a surge in demand linked to the private space industry.
Despite initial skepticism from bankers, Rodriguez's vision has led to the renovation of a Hilton hotel and the acquisition of the International Palms Resort, which is being redeveloped into the $420 million Westin Cocoa Beach Resort & Spa, set to open next year.
This new luxury hotel, along with Driftwood's other investments, will give the firm control of approximately 11% of the hotel inventory in the area and 62% of beachfront hotels. The influx of companies like SpaceX and Blue Origin, as well as defense contractors, is driving demand for hospitality services, particularly for high-level executives and scientists visiting for launches.
Rodriguez's approach mirrors that of David Steinbach from Hines, who has successfully invested in the industrial sector to support space infrastructure. Both executives remain optimistic about the long-term potential of the space economy, with Rodriguez actively seeking further investment opportunities in the area as the U.S. Space Force and other initiatives gain traction