Sandpiper Hospitality continues strong growth in 2021

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RICHMOND, Va., Feb. 25, 2022 /PRNewswire-PRWeb/ --Sandpiper Hospitality a Virginia-based hotel management company with vast expertise in the extended stay segment continued to enjoy a strong growth trajectory in 2021, with hotel revenues up 36 percent while also adding two strategic new industry partnerships.

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Provider: 
PR NewswirePR Newswire
Retrieved on: 
Friday, February 25, 2022
Information
Tags: 
WoodSpring Hotels, Choice Hotels International, IHG Hotels & Resorts, AmericInn, Growth, Green Book, Marriott International, University City (Charlotte neighborhood), Hotel
Geotags: 
VIRGINIA, NORTH CAROLINA, FLORIDA, TEXAS
Summary
Key Points: 
  • RICHMOND, Va., Feb. 25, 2022 /PRNewswire-PRWeb/ --Sandpiper Hospitality a Virginia-based hotel management company with vast expertise in the extended stay segment continued to enjoy a strong growth trajectory in 2021, with hotel revenues up 36 percent while also adding two strategic new industry partnerships.
  • Sandpiper Hospitality continues to demonstrate its unique ability to combine a flexible approach to third-party management with extra-ordinary financial results for its investors and clients.
  • Sandpiper Hospitality is a high-performance hotel management firm recognized as experts in the extended stay hotel space.
  • With 56 hotels open or under management for a diverse group of clients across the country, Sandpiper Hospitality is on the leading edge of the hottest segment in hospitality.


Sandpiper Hospitality continues strong growth in 2021

RICHMOND, Va., Feb. 25, 2022 /PRNewswire-PRWeb/ -- Sandpiper Hospitality – a Virginia-based hotel management company with vast expertise in the extended stay segment – continued to enjoy a strong growth trajectory in 2021, with hotel revenues up 36 percent while also adding two strategic new industry partnerships.

In 2021, Sandpiper Hospitality achievements included:

  • Hotel Revenue increase of 36 percent from 2020 to 2021, approaching $100 million
  • Hotel GOP increase of 47 percent from 2020 to 2021
  • Addition of two key new brand partnerships - Suburban Extended Stay Hotel by Choice Hotels & multiple brands with Wyndham Hotels & Resorts
  • Addition of five new properties with a total of 544 new keys
  • Expanded presence into several new markets, including Denver, CO

New Sandpiper Hospitality properties added last year include the 125-room WoodSpring Suites Atlanta – Newnan and the 122-room WoodSpring Suites Charlotte – University Research Park. Both hotels achieved phenomenal success in 2021, including the Newnan property earning revenues in the top 15 of all WoodSpring Suites.

The company also introduced the "Do More Good" community service platform, designed to provide a pathway for each hotel location to give back to the communities in which they operate.

In the first six months of 2022, Sandpiper Hospitality will add at least eight new properties to its portfolio in Florida, Texas and North Carolina, including an AmericInn by Wyndham in San Angelo, Texas and the first ground-up dual-branded La Quinta/Hawthorn Suites by Wyndham in Austin/Pflugerville, Texas. The additional properties come from both affiliated growth from Sandpiper Lodging Trust and third-party owners and developers.

"Our extended stay hotels have continued to perform at very high occupancy rates and offer a fantastic return on investment," said Sandpiper Hospitality President & CEO Jim Darter. "We were thrilled to recently be ranked as a Top 50 Management Company in the 2022 Hotel Business Green Book thanks to our strong revenue growth. This marks the second consecutive year that we were rated as one of the fastest growing companies in all of hospitality management."

Sandpiper Hospitality is approved by Marriott International, IHG Hotels & Resorts, Choice Hotels International, Suburban Extended Stay Hotels and Extended Stay America to manage their select-service and extended stay brands and now manages over ten different brands in its portfolio.

Sandpiper Hospitality has a portfolio of 56 hotels open or under contract with 23 of them under management for third-party clients. Sandpiper Hospitality continues to demonstrate its unique ability to combine a flexible approach to third-party management with extra-ordinary financial results for its investors and clients. For more information, please visit http://www.sandpiperhospitality.com.

About Sandpiper Hospitality
Sandpiper Hospitality is a high-performance hotel management firm recognized as experts in the extended stay hotel space. With 56 hotels open or under management for a diverse group of clients across the country, Sandpiper Hospitality is on the leading edge of the hottest segment in hospitality. Hotel Business ranked Sandpiper Hospitality as a Top 50 Management Company in its 2022 Green Book and for the second year in a row, ranked it as one of the fastest growing companies in hospitality management. The firm has earned its position as the leading operator in the extended stay hotel segment of hospitality by virtue of superior returns on investment for its investors and clients. Sandpiper Hospitality - where expertise grounds us and flexibility elevates us. http://www.sandpiperhospitality.com

Media Contact

Julie Dunn, Dunn Communications Inc., +1 3035222659, [email protected]

 

SOURCE Sandpiper Hospitality

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