RICHMOND, Virginia — Sandpiper Lodging Trust announces the acquisition of two WoodSpring Suites extended-stay hotels located in Orlando, Florida.
One of the hotels, WoodSpring Suites Clarcona, is located 6 miles northwest of downtown Orlando. The other hotel, WoodSpring Suites Clermont, is located 18 miles west of Orlando, near Lake Apopka. The hotels were 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. The terms of the deal were not disclosed.
Carter Rise, CEO of Sandpiper Lodging Trust, 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 throughout Florida.”
Sandpiper Lodging Trust now owns 21 properties located in eight states spanning from the Mid-Atlantic region to Texas and Colorado.