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New Value Place Hotel Franchise Chief Development Officer Ready to to Further Expand Extended Stay Concept

Jan 15, 2008

WICHITA, Kan., January 15, 2008 – Value Place Franchise Services LLC — the nation’s fastest-growing extended stay hotel chain — announced today that Paul M. Mangiamele has been named Chief Development Officer/Senior Vice President of Franchise Development.

A leading senior executive with an extensive background in hospitality and franchising, Mangiamele is charged with leading Value Place’s franchise development efforts, and will play a key role in fueling the company’s aggressive expansion plans.

“Paul has an exemplary record of developing and implementing strategies that have resulted in tremendous financial and business growth for both start-up and Fortune 500 companies alike,” said Gina-Lynne Scharoun, president of Value Place Franchise Services LLC. “We are thrilled to have Paul join our team, and I am confident that his leadership skills and experience with creating successful franchise development strategies will serve him and our company well as we continue to grow the Value Place brand,” Scharoun added.

Mangiamele has more than 30 years of experience in franchise development, broker and distributor networks, and building and leading teams in start-up, growth and Fortune 500 environments. His diverse background includes serving as vice president of business development with Regis Corporation, vice president of international operations for Sylvan Learning Systems and vice president of business development for Carlson Companies, Inc., franchisor of Radisson Hotels, Country Inns and Suites, Regent Hotels and TGI Friday’s.

He most recently served four years with Austin, Texas-based Sport Clips, Inc. in various senior management capacities, including chief operating officer. While with Sport Clips, Mangiamele led several significant growth initiatives that assisted the organization in growing store count from 100+ stores to more than 500 stores nationwide.

“Value Place is poised for growth and has established itself as a great brand that is creating a new category in the hospitality industry,” Mangiamele said. “I am excited to work with both the executive team and our current Value Place franchisees on the growth opportunities ahead. In today’s competitive environment, it is rare to be able to grow a brand with the potential and integrity that Value Place possesses,” he added.

Mangiamele holds a Master of Education degree (summa cum laude) from Springfield College, Mass., and a Bachelor of Science degree from the College of New Jersey (magna cum laude). He also holds the professional designation of Certified Franchise Executive. He resides with his family in Minneapolis, Minn.

Value Place is one of the nation’s fastest-growing brands. The extended stay hotel chain now has nearly 80 open properties in 19 states, and 42 franchise groups have committed to build another 600+ hotels nationwide over the next five years. For more information or reservations, visit ValuePlace.com.

About Value Place
Value Place is an extended stay hotel chain founded by Jack DeBoer in 2003 to provide remarkably affordable, ultra clean and secure extended stay lodging for independent business owners, professional consultants, families and individuals who are on the move to a new job assignment or relocating to a new community. Now with nearly 80 hotels operating in 19 states and expanding nationally, the Value Place Brand is the creation of the management team that developed Residence Inn (now owned by Marriott), Summerfield Suites (a part of the Hyatt hotel chain), and Candlewood Suites (an Intercontinental hotel chain company) and is headquartered in Wichita, Kan. To find out more about Value Place or to make a reservation, visit us at ValuePlace.com or call 1-800 ValuePlace.

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