Driftwood Capital has completed the structural top off of the Westin Cocoa Beach Resort & Spa, a $420 million development on Florida’s Space Coast. The 502-key resort is now 45% completed and currently on track for completion in Q3 2027. North Palm Beach-based Driftwood Hospitality Management (DHM) is expected to assume operations upon the opening of the property.
After breaking ground in September 2024, the property is Driftwood’s latest endeavor in a decade-long presence throughout Florida’s Space Coast. Working in tandem with West Palm Beach-based general contractor KAST Construction and San Francisco-based architectural firm Gensler, the company is set to own approximately 62% of the region’s beachfront inventory and 11% of its total hotel inventory once the development is completed per recent market data.
“This achievement marks a continued standard of excellence for development on Florida’s Space Coast, delivering a distinctive project that is anticipated to meet the region’s growing demands and showcase its evolution in business, technology, tourism and hospitality,” said Carlos Rodriguez Sr., chairman/CEO, Driftwood. “We look forward to completing the next phase of the Westin Cocoa Beach Resort & Spa and contributing to the region’s ongoing success as a key economic driver for the state.”
To commemorate the milestone, Driftwood hosted a traditional topping-off ceremony at the construction site, bringing together more than 350 construction workers, project partners and guests. The celebration was centered on the men and women building the the hotel, recognizing their craftsmanship, commitment to excellence and the dedication to high standards they bring to delivering this project.
“This event is first and foremost to thank all of the men and women who are building this project with pride and bringing to life an idea with the highest level of quality,” said Jay Cooper, managing director, development and construction, Driftwood, at the event. “We’re grateful for your effort and craftsmanship, and we appreciate each and every one of you. On behalf of Driftwood, our partners at KAST Construction and our design team led by Gensler, thank you for helping make the Westin Cocoa Beach Resort & Spa a reality.”
Sean Ouellette, president, KAST Construction, added, “Westin Cocoa Beach reflects the depth of KAST’s experience delivering complex hospitality developments. As the project celebrates its topping-off milestone and inches closer to the halfway point, we’re proud to partner with Driftwood on a resort that is designed to be a major destination for business and leisure travelers on the Space Coast.”
The resort will sit on 15.7 acres of oceanfront property, bringing the largest conference center as of today to the Space Coast, once completed. Serving to fill a 160-mile gap of Marriott beachfront resorts on the Atlantic between Daytona Beach and Hutchinson Island, the resort will bring more than 72,000 sq. ft. of open-air venues for meetings and events, complemented by 51,500 sq. ft. of indoor space designed for gatherings and conferences.
The property is expected to generate approximately $3 million in tourist taxes in its first year of operation and $4.5 million a year by its fifth year of operation, while creating approximately 1,800 direct and indirect jobs in its first year (based on preliminary assessments).
