Sandpiper Lodging Trust Acquires Woodspring Suites Extended Stay Hotel Portfolio in Orlando, Florida
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.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
