April 23, 2024 10:25 am
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Florida firm buys Scottsdale resort, plans major renovations

(Image via Driftwood Capital)

By Corina Vanek | Phoenix Business Journal

Florida-based Driftwood Capital bought the Scottsdale Resort at McCormick Ranch and is planning a major renovation and conversion of the resort to a Curio by Hilton.

Driftwood Capital bought the 16-acre resort for $113 million on Feb. 10 from an entity of Hong Kong-based Junson Capital, according to Maricopa County records. The acquisition was Driftwood’s largest to date. The company has two other properties in the Valley. It was a co-developer of the Canopy by Hilton Tempe Downtown and owns the Doubletree Suites by Hilton Phoenix Airport Hotel. The Scottsdale Resort at McCormick Ranch previously operated under the Hyatt flag.

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