Sandpiper Lodging Trust Announces Acquisition of Brand-New WoodSpring Suites Extended Stay Hotel in Tampa, Florida
Richmond, VA
Sandpiper Lodging Trust Announces Acquisition of Brand-New WoodSpring Suites Extended Stay Hotel in Tampa, Florida
Richmond, VA
PRWeb:
Sandpiper Lodging Trust ("SLT") is pleased to announce the acquisition of a brand-new WoodSpring Suites extended stay hotel located in Tampa, Florida. The hotel was developed by Liberty Investment Properties, headquartered in Orlando, Florida, and was acquired by SLT upon completion. Sandpiper Hospitality will manage the 122-room hotel. Terms of the deal were not disclosed.
Carter Rise, CEO of SLT, stated, "We have always been very attracted to the west coast of Florida's hospitality market and we are extremely excited about the location of this asset in Tampa.
Given the continued expansion of the Tampa market, we see a significant opportunity for this hotel and look forward to continuing to expand our presence in Florida."
Mr. Rise added, "We have a great, longstanding relationship with Liberty. They have a wonderful reputation as developers and are known for their integrity and for developing high quality products, especially within the WSS system."
SLT now owns 19 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.
