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Value Place seeks land to immediately develop nine new Denver area properties

Jul 10, 2013

Value Place seeks land to immediately develop nine new Denver area properties

Extended stay hotel brand continues rapid national expansion

DENVER, July 10, 2013Continuing 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 early 2014.

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 lodging.”

Typically, Value Place hotels are built near highways, freeways or major intersections. The company will consider sites that meet all of the following requirements:

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 local employees

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 realestate@valueplace.com.

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.

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