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Sandpiper Lodging Trust Announces Acquisition Of A Woodspring Suites

Mar 04, 2022•over 3 years ago

Acquiring Company

Sandpiper

Acquired Company

WoodSpring Suites

RockvilleTravel And TourismHospitality

Description

Sandpiper Lodging Trust now owns 21 properties in eight states spanning from the Mid-Atlantic region to Texas and Colorado.

Company Information

Company

Sandpiper

About

Based in Richmond, Va., Sandpiper Lodging Trust (“SLT”) is a nationally-focused real estate investment trust recognized as one of the leading companies specializing in extended stay lodging properties. The company continues to develop its portfolio through ground-up development and selective acquisition of performing and non-performing properties. SLT, along with its affiliated funds, owns a total of 33 extended stay hotels under the WoodSpring Suites, Candlewood Suites and Suburban Extended Stay brands. For more information, please visit http://www.sandpiperlodgingtrust.com. Sandpiper Hospitality, an affiliated hotel management company, manages the entire SLT portfolio and also manages 23 more hotels for unaffiliated third parties. Sandpiper Hospitality has earned its position as the leading operator in the extended stay hotel segment of hospitality by combining the spirit of genuine, welcoming hospitality with superior financial returns, fueling the growth and prosperity of its various stakeholders – from associates to guests to owners and investors. For more information, visit http://www.sandpiperhospitality.com. Media Contact: John D. Austin Chief Financial Officer Sandpiper Lodging Trust 804-775-2200 - x102

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed