Value Place Franchisee, Quanah Hospitality Partners, LP, Sets New Record With Multiple Hotel Openings
Oct 30, 2007
Dallas, TX— October 30, 2007 -- Quanah Hospitality Partners, LP, a leadingfranchise developer of Value Placeextended stay hotels, has announced the opening of three new properties. The locations, all in Texas, at The TrophyClub, Rockwall and Forest Hill bring the total number of Quanah properties openor in development to 29.
The three concurrent openingsrepresent a landmark achievement for the developer, which opened its first Value Place only 12 months ago.
In late summer Quanah unveiled afive-year plan to develop more than 100 Value Place properties, an industry leadingpace. Quanah has been securing thenecessary capital to fuel this unprecedented expansion effort, including a $100million transaction in Summer 2007. Additional financial milestones will be reported shortly.
“While weadmittedly have a very ambitious development mission, I am proud our teamremains fully on-track in delivering successful properties,” commented Gary L.Webb, CEO of Quanah Hospitality Partners, LP. “We now have enough experience with Value Place openings to be able toeffectively ramp up our development pace and maintain our very high qualitystandards,” he added.
Value Place is the fastest growing brand in hospitality and leader in thegrowing extended stay hotel segment. Value Place currently has 64 hotelsoperating, with plans to develop 600 more during the next five years.
“We arethrilled with Quanah’s impressive development pace and their commitment tohelping us achieve the goal of building Value Place into a prominent nationalbrand,” said Gina-Lynne Scharoun,Value Place Franchise Services president. “Value Place’sbrand promise is to provide our guests with ultra-clean and secureextended-stay lodging with just-right simplicity, all at remarkably affordableweekly rates. There is a tremendous needfor our product, and Quanah is focused on delivering the promises of ourbrand. We look forward to supportingtheir future development plans and celebrating their success with them.”
As of September 2007, Quanah has opened five hotels in the greater Dallas/Fort Worth, TX,metroplex. Properties are currently under construction in Albuquerque,NM, and Jacksonville, FL. Additional projects are undercontract and development in Fort Worth, TX; Dallas, TX; Benbrook, TX; Forest Hill, TX; Irving, TX; Mesquite, TX; Albuquerque, NM; Jacksonville, FL; Palm Springs, CA; Moreno Valley, CA; Loma Linda, CA; Victorville, CA; Perris, CA; and Wildomar, CA.
About Quanah Hospitality Partners,LP
Led by amanagement team with more than 150 years of combined experience in real estatedevelopment and construction, Dallas-based Quanah Hospitality Partners, LP andits subsidiaries build and manage proven hospitality ventures that add lastingvalue to the community. Formed in 2004, Quanah entered into an exclusiveagreement with Value Place Franchising Services, LLC to develop extended-stayhotels in communities in Texas, New Mexico, Californiaand Florida.
About Value Place
Value Place is an extended stay hotel chain founded by JackDeBoer in 2003 to provide remarkably affordable, ultra clean and secureextended stay lodging for independent business owners, professionalconsultants, families and individuals who are on the move to a new jobassignment or relocating to a new community. Now with more than 60 hotelsoperating in nearly 20 states and expanding nationally, Value Place is thecreation of the management team that developed Residence Inn (now owned byMarriott), Summerfield Suites (a part of the Hyatt hotel chain), and CandlewoodSuites (an Intercontinental Hotel Group) and is headquartered in Wichita,Kansas. To find out more about Value Place or to make a reservation, visit us at ValuePlace.com or call 800-ValuePlace.