Filling the gap with rescue capital
When the pandemic shut down the travel industry, many hospitality sponsors were left with empty hotels, large payrolls, and continued uncertainty. At Driftwood Capital, we, too, spent many months reforecasting budgets, assessing long-term effects, and working through the many operational challenges that come with owning and managing hotels in such a scenario. But as a long-term hospitality investor with full capital stack capabilities, we also saw an opportunity to fill an important gap in the hotel financing space as a source of “rescue capital” to an industry desperately in need.
