Richmond, Va. – Sandpiper Lodging Trust(“SLT”) is pleased to announce the acquisition of two Residence Inn by Marriott ™ extended stay hotels located in the Central Florida market. One of the hotels, Sandpiper Gainesville, is located 2 miles southwest of the University of Florida in Gainesville, FL. The other hotel, Sandpiper Lakeland, is located 30 miles east of Tampa, near the Lakeland Linder International Airport. Terms of the deal were not disclosed.

Carter Rise, CEO of SLT, stated, “We are very excited about what these two Central Florida markets have to offer and believe that these two assets will serve as marquee additions to our portfolio. They are our first two Residence Inns. We are confident that with the management expertise of Sandpiper Hospitality and a substantial investment to renovate both properties they have a very bright future. We look forward to serving customers in these great markets and continuing the expansion of our presence throughout Florida.”

With hotels now in Tampa, Orlando, Gainesville, and Lakeland, SLT has gained wide coverage of the Florida extended stay hospitality market, demonstrating its high expectations for the Florida market moving forward. By acquiring two upscale Residence Inn extended stay hotels, SLT has increased both its brand and sector diversity in one of its most strategic markets.

SLT now owns 23 properties across four brands located in eight states spanning from the Mid-Atlantic region to Texas and Colorado.

About Sandpiper

Sandpiper Hospitality is a high-performance hotel management firm recognized as experts in the extended stay hotel space. With over 75 hotels open or under contract for a diverse group of clients across the country, Sandpiper Hospitality is on the leading edge of the hottest segment in hospitality. Managing 16 brands in 15 states, 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. www.sandpiperhospitality.com