Sheraton Old San Juan Hotel
Driftwood Capital Acquires Sheraton Old San Juan Hotel in Puerto Rico
Driftwood Capital, a vertically integrated commercial real estate investment, development and lending platform specializing in hospitality, announces that it has acquired the Sheraton Old San Juan, a 240-room hotel and 27,500-square-foot retail complex in the heart of Old San Juan, Puerto Rico. Driftwood intends to undertake a full-scale renovation of the property and convert it to a Tribute By Marriott - making it the only branded hotel in the historic district. It will be managed by Driftwood Capital's sister company, Driftwood Hospitality Management (DHM), a national hotel operator with over 20 years of expertise.
As part of the renovation, Driftwood will also unveil a new concept for the hotel's second-floor restaurant, which overlooks Old San Juan Harbor, with the goal of creating a vibrant social scene that will draw in both hotel guests and cruise ship visitors.
Located at 100 Brumbaugh Street, Sheraton Old San Juan consists of the main building - a nine-story, 180,739-square-foot property with 240 rooms, including 44 suites, 10 meeting rooms totaling 9,114 square feet, a rooftop pool, a business center, a fitness center, and two restaurants. In addition, the property includes a two-story, 27,500-square foot retail complex, which is home nationally recognized tenants, including Walgreens, Senor Frogs, Harley Davidson and Nespresso.