COCOA BEACH, Florida—Driftwood Capital (Driftwood) announced the successful 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 percent completed and currently on track for completion in the third quarter of 2027. Driftwood Hospitality Management (DHM) is expected to assume operations upon the opening of the property.
After breaking ground in September 2024, the Westin Cocoa Beach Resort & Spa is Driftwood’s latest project in a decade-long presence throughout Florida’s Space Coast. Working with general contractor KAST Construction and architectural firm Gensler, Driftwood is set to own approximately 62 percent of the region’s beachfront inventory and 11 percent 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 and chief executive officer of 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.
Property Details
The Westin Cocoa Beach Resort & Spa will sit on 15.7 acres of oceanfront property. The resort will bring more than 72,000 square feet of open-air venues for meetings and events, complemented by 51,500 square feet of indoor space designed for gatherings and conferences.
Amenities at the resort will include:
- 11 food and beverage venues, including themed restaurants.
- Spa
- Surfing wave pool
- Swimming pools
- Tennis and pickleball courts
- Fitness center with cardio and weights
- Multiple retail options
- A multistory parking garage to accommodate about 800 vehicles.
The Westin Cocoa Beach Resort & Spa 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).
