Sandpiper Lodging Trust (SLT) announced its acquisition of four WoodSpring Suites Hotels from Wills Capital Partners, LP (WCP). Three of the properties are located in Texas including: Austin, San Antonio and Odessa and one in Clarksville, Tennessee.
Carter Rise, CEO of SLT, stated, “We have known and admired Charles Wills and his development team for nearly 10 years. His properties consistently rank among the highest performing hotels in the WoodSpring system. This acquisition expands our geographic footprint into four rapidly growing markets. We are particularly pleased that Mr. Wills has agreed to join our Board of Trustees, and I look forward to working with him for years to come.”
Charles Wills, managing partner of WCP commented, “We are thrilled to partner with Sandpiper Lodging Trust through this merger. Sandpiper is a leader and innovator in the WoodSpring brand. This partnership is the ideal path to maximize future returns for our investors.”
SLT now owns 13 properties operating as WoodSpring Suites located in five states from the Mid-Atlantic region to Texas.