Since 2007, Sandpiper has developed 14 WoodSpring Suites and acquired 11 existing properties. In 2012, Sandpiper formed a management company, Sandpiper Hospitality, in order to achieve better financial performance and ensure the assets are properly maintained. In addition to managing Sandpiper’s 25 properties, Sandpiper Hospitality provides third-party management services for other independently owned hotel properties in the extended stay segment.
Continued growth remains an essential part of Sandpiper’s business strategy. As a result, Sandpiper Lodging Trust (“SLT”) was formed in October 2018 through the acquisition of nine properties from predecessor Sandpiper-related funds. Since this initial acquisition, SLT has acquired four additional properties from an unaffiliated owner. SLT will continue to develop and acquire extended stay hotel properties to grow its existing portfolio. SLT expects to acquire additional properties from other affiliated Sandpiper funds, but we are also actively vetting new markets to create a more geographically diverse portfolio of economy and midscale extended stay hotels. In addition to new geographic markets, SLT will seek to acquire or develop new brands, such as Home 2 Suites, Extended Stay America, Candlewood Suites and TownePlace Suites, to further diversify SLT’s stable of properties.
Over the last twelve years, Sandpiper’s Family of Funds has attracted and overseen over $120 million dollars in private equity. Whether developing hotels from the ground up, or acquiring existing hotel assets, we have one guiding principle: We will always treat our Clients’ investment dollars as if they were our own. We take our fiduciary responsibility very seriously and realize that without our equity partners and shareholders, none of our growth would be possible.