The vertically integrated Driftwood Capital specializing in high-yield commercial properties in the hospitality industry started building an extended-stay Element Hotel with 130 rooms, located on the oceanfront in Melbourne, Florida. This is a beach town on the state’s popular Space Coast where Cape Canaveral is located.
After the property is completed in 2024, it will have contemporary design, wonderful amenities, and a focus on wellness. Rooms will feature open-plan kitchens with full-size fridges, electric stoves with two burners, microwaves, dishwashers, and sinks.
Amenities in Element Melbourne Beach will include a swimming pool, a spacious 24/7 Motion Fitness Center, charging stations for electric vehicles, a bike rental by Priority Bicycles, and a large pool deck overlooking the Atlantic Ocean, where snacks and drinks made of locally sourced ingredients will be offered. Guests will also have the use of a 24/7 laundry and 175 parking spaces.
The new hotel will apply for Green Key Certification for sustainable design, construction, and operation.
The property is being built on a land plot with an area of 2.56 acres at the site of the former parking lot adjacent to The Crowne Plaza Hotel. Construction and operation of the Element Hotel will create about 200 jobs. The property will be owned and operated by Driftwood Capital.
The new hotel in Melbourne will be the eight in Florida under the Element brand, which owns more than 75 properties across the USA.
Driftwood already owns the Hilton Cocoa Beach Hotel and the International Palms Resort and Conference Center in Brevard County. The latter will soon be replaced with a new 4.5-star Westin Resort & Convention Center worth $388 million.