Value Place seeks land to immediately develop nine new Denver area properties
Jul 10, 2013
Place seeks land to immediately develop nine new Denver area properties
stay hotel brand continues rapid national expansion
DENVER, July 10, 2013 – Continuing
a trend of rapid expansion across the U.S., Value Place has turned its
attention to the Denver market.The
Wichita, Kan., based extended stay hotel company has immediate plans to develop
nine new corporate properties in the Denver area with construction to start in
Value Place is working with Denver-based broker
Steve Markey of David, Hicks & Lampert to explore possible sites and talk
with landowners, brokers and commercial real estate firms.
The company plans to invest more than $63 million to build nine hotels,
including about $13 million for land acquisition. The company can close
immediately once a building permit is issued. Local companies will be hired for
construction and communities will benefit from incremental tax revenue and
guest spending in the area.
Founded by successful hospitality entrepreneur Jack
DeBoer, 184 Value Place hotels are operating in 32 states, including two
corporate locations in Aurora and Colorado Springs, and two franchise locations
in Loveland and Firestone. All properties carry the same strict standards set
by the brand and operate under stringent quality assurance guidelines.
While many other hotel companies have stopped
building new hotels, we are doing exactly the opposite,” says Value Place president
of real estate development David Redfern. “We don’t go into a market and reflag
an older hotel, or upgrade and rebrand it. We build every hotel from the ground
up, to very exacting standards. Each Value Place offers clean, safe and
comfortable accommodations for business travelers and those needing temporary
Typically, Value Place hotels are built near highways, freeways or major
intersections. The company will consider sites that meet all of the following
Frontage to highways or thoroughfares with daily traffic of more than
50,000, including local and out-of-town traffic
A strong mix and dispersion of non-retail employers with more than 150
A one-mile population of at least 5,000 people, and a five-mile
population of at least 100,000 people
Value Place plans to acquire land and build
corporate-owned hotels in other metro markets, including Atlanta, Boston,
Cleveland, Miami and southeast Florida over the next three years. Interested
landowners in these areas may contact Value Place real estate development at firstname.lastname@example.org .
About Value Place
Founded in 2002, Value Place is the largest economy
extended-stay lodging brand in the U.S.
Featuring remarkably affordable weekly rates, rigorous cleanliness
standards and secure temporary lodging, the brand delivers an unparalleled
commitment to the comfort, privacy and peace of mind of each guest. Value Place
currently has 184 locations open in 32 states. Named a recession proof business
in 2010 by USA Today, Value Place delivers proven stability and consistent
returns to its franchisees. Since opening the first Value Place property in
2003, 50 franchise groups have committed to build over 300 properties by 2015. For
more information, contact Value Place at (316) 630-5505 or visit ValuePlace.com.
For franchise opportunity information call 316.630.5519.