WoodSpring Hotels Completes $275,000,000 Portfolio Refinancing with J.P. Morgan

Wichita, Kan., August 11, 2016 – WoodSpring Hotels today announced they have secured $275 million to refinance a portfolio of their WoodSpring Suites extended stay hotels. The diversified portfolio contains properties located across 20 states, including many of the fastest growing lodging markets in the country. J.P. Morgan provided the five-year floating-rate loan to WoodSpring Hotels.

“This financing, along with our private equity sponsorship, demonstrates the significant institutional interest in WoodSpring Hotels,” said Kyle Rogg, Chief Financial Officer for WoodSpring Hotels. “Our properties’ high margins and stable cash flows make them particularly attractive to lenders.”

The non-recourse loan replaces existing debt and provides the company with approximately $70 million for additional development and accelerated distributions.

About WoodSpring Hotels
WoodSpring Hotels is the company behind the nation’s fastest growing value extended-stay hotel brand with over 200 hotels system-wide located in over 30 states. The company owns 90 hotels and provides management services for both company-owned and franchised locations under the WoodSpring Suites and Value Place brands. WoodSpring Suites are hotels for good people with practical needs, down-to-earth attitudes and a comfortable style, and who appreciate the value of life’s necessities – done really well. For more information, visit www.WoodSpring.com.

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