Value Place seeking building sites for 12 new hotels in southern California
WICHITA, Kan., Feb. 26, 2014 — Value Place — the largest economy extended-stay hotel brand in the U.S. — plans to build 12 new hotels in southern California as it begins expanding the hotel brand here. Value Place is actively pursuing potential building sites. Value Place is working with San Diego-based KZ DevCo, which has deep experience in rolling out brands in southern California. KZ DevCo has a notable development portfolio in the region, including CVS Pharmacy, Starbucks, Petco, Burger King, 7-Eleven, Applebee’s, Whole Foods and FedEx Office (formerly Kinkos).
Targeted southern California markets include, but are not limited to, metro Los Angeles, San Diego, Long Beach, Orange County, Riverside and Ventura. Some of the new Value Place properties will be corporate owned and operated, while others will be developed by Value Place franchisees. “Housing and lodging costs are particularly challenging for travelers and new residents here, which is one of the reasons Value Place is a great fit,” says KZ DevCo general partner Mark Zimmerman.
Value Place was founded in 2002 by extended-stay hotel pioneer Jack DeBoer, who created the Residence Inn brand, selling the company to Marriott International in 1987. DeBoer also founded Summerfield Suites (now Hyatt House) and Candlewood Suites, sold to Intercontinental Hotel Group in 2004.
Specific construction site needs
Value Place will consider two-acre sites that meet these requirements:
Frontage to highways or thoroughfares with daily traffic of more than 50,000, including local and out-of-town traffic.
A strong mix of non-retail employers with more than 150 local employees.
Households or apartment communities within a one, three and five-mile area.
About Value Place
Value Place is the nation’s largest economy extended-stay hotel brand with more than 180 hotels located in 32 states, including one in Sacramento, Calif. The company owns 75 of the properties and provides management services for both company- and franchise-owned locations. 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. For more information, contact Value Place at (316) 631-1370 or visit ValuePlace.com.
David Raehpour, Value Place, firstname.lastname@example.org or 316.630-5573
Mark Zimmerman, KZ Dev/Co, email@example.com 949.476.2700.