Sandpiper Lodging Trust Announces Acquisition of a WoodSpring Suites Extended Stay Hotel Portfolio in Orlando, Florida
Sandpiper Lodging Trust now owns 21 properties in eight states spanning from the Mid-Atlantic region to Texas and Colorado.
RICHMOND, Va., March 4, 2022 /PRNewswire-PRWeb/ -- Sandpiper Lodging Trust ("SLT") is pleased to announce the acquisition of two WoodSpring Suites extended stay hotels located in the Orlando, Florida market. One of the hotels, WSS Clarcona, is located 6 miles northwest of downtown Orlando. The other hotel, WSS Clermont, is located 18 miles west of Orlando, near Lake Apopka. The hotels were initially developed by Liberty Investment Properties and have been owned most recently by Hotel Management Services, Inc. Sandpiper Hospitality will immediately begin managing the two-hotel portfolio.
Terms of the deal were not disclosed.
Carter Rise, CEO of SLT, stated, "We are very excited about what the Orlando market has to offer and believe that these two assets will be valuable additions to our portfolio. They present us with two quality, value-add opportunities that, with the expertise of Sandpiper Hospitality, should prove very advantageous for us. We look forward to continuing the expansion of our presence through-out Florida."
SLT now owns 21 properties located in eight states spanning from the Mid-Atlantic region to Texas and Colorado.
About Sandpiper
Based in Richmond, Va., Sandpiper Lodging Trust ("SLT") is a nationally-focused real estate investment trust recognized as one of the leading companies specializing in extended stay lodging properties. The company continues to develop its portfolio through ground-up development and selective acquisition of performing and non-performing properties. SLT, along with its affiliated funds, owns a total of 33 extended stay hotels under the WoodSpring Suites, Candlewood Suites and Suburban Extended Stay brands. For more information, please visit http://www.sandpiperlodgingtrust.com.
Sandpiper Hospitality, an affiliated hotel management company, manages the entire SLT portfolio and also manages 23 more hotels for unaffiliated third parties. Sandpiper Hospitality has earned its position as the leading operator in the extended stay hotel segment of hospitality by combining the spirit of genuine, welcoming hospitality with superior financial returns, fueling the growth and prosperity of its various stakeholders – from associates to guests to owners and investors.
For more information, visit http://www.sandpiperhospitality.com.
Media Contact:
John D. Austin
Chief Financial Officer
Sandpiper Lodging Trust
804-775-2200 - x102
Media Contact
Julie Dunn, Dunn Communications Inc., +1 3035222659, [email protected]
SOURCE Sandpiper Lodging Trust
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