RICHMOND, Va. — Sandpiper Hospitality, a Virginia-based hotel management company that specializes in the extended-stay segment, this week reported plans to continue to grow its portfolio in 2020 and 2021. The company added two new South Carolina Candlewood Suites properties last month and plans to announce more third-party management agreements this year. Looking ahead to next year, Sandpiper Hospitality plans to expand into additional market tiers and premium-branded hotels, including new properties in Georgia, North Carolina, and Nevada.
“Our hotels have been performing at occupancy rates well above 80 percent for months, which is really quite remarkable given the COVID-19 pandemic,” said Jim Darter, president and CEO, Sandpiper Hospitality. “Our extended stay platform has proven itself this year as it has performed at the top of the hospitality spectrum in terms of occupancy and market share. Sandpiper Hospitality is definitely a company that continues to be on the rise—we will be announcing several new third-party management agreements in the next few weeks.”
In the past four years, Sandpiper Hospitality has grown its portfolio of managed hotels from 17 to 42 opened and managed properties, added more than 3,000 keys across three new brands, grown its staff of service-oriented associates from 120 to nearly 500 associates, and expanded its operational reach from six to 12 states and across the entire country.
Sandpiper Hospitality is approved to manage select-service and extended-stay brands from Marriott International, IHG Hotels & Resorts, Choice Hotels, and Extended Stay America.
“Sandpiper Hospitality is a leader in the lodging industry, particularly in the extended-stay segment, and we are excited to establish a relationship with them following the acquisition of two Candlewood Suites hotels in South Carolina,” said Kevin Schramm, vice president of development, mainstream brands, for the United States and Canada, IHG Hotels & Resorts. “We look forward to more opportunities to grow together as Sandpiper increases its management platform across the country.”
Sandpiper is working to develop its portfolio through further ground-up developments, selective acquisitions of performing and non-performing properties, and third-party management with selected partners.