Sandpiper Lodging Trust Acquires WoodSpring Suites Extended Stay Hotel Portfolio in Orlando, Florida
Alpharetta, GA
Sandpiper Lodging Trust Acquires WoodSpring Suites Extended Stay Hotel Portfolio in Orlando, Florida
Alpharetta, GA
Hotel Online:
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, LLC is a nationally-focused real-estate investment organization 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. Sandpiper owns a total of 39 hotels under the Candlewood Suites (IHG), Courtyard (Marriott), ECHO Suites (Wyndham), Premier Suites (Extended Stay America), Residence Inn (Marriott), RiseWell Kitchen Suites (Sandpiper), Suburban Studios (Choice), and WoodSpring Suites (Choice) brands.
Sandpiper Hospitality ("SH"), an affiliated hotel management company, manages the entire Sandpiper portfolio and manages 30+ more hotels for unaffiliated third parties. SH 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 www.sandpiperhospitality.com.
