Sep 19, 2011 (Wichita, Kan.) – Value Place, the largest economy extended stay lodging franchise in the U.S., announced today that Dan Weber has been appointed as CEO to lead the Value Place Brand in its next stage of growth. Mr. Weber succeeds CEO Greg Kossover, who will become the newest Value Place franchisee. Kossover will continue to serve as an advisor to the company through the end of the year to assist with the transition. The announcement was made today by Chairman and Founder of Value Place, Jack DeBoer.
DeBoer highlighted Kossover's long-standing association with the Value Place Brand and its future by stating, "I want to thank Greg for his many years of dedicated leadership. It is very exciting to have Greg remain closely associated with the company as the newest addition to our franchise community. We are also thrilled to have a highly respected executive of Dan's stature join the Value Place team. Dan's extensive real estate and capital markets experience will be instrumental to Value Place as we focus on expanding our portfolio of corporate and franchise properties across the United States."
"I've led this organization as it recognized an underserved niche in the extended stay lodging market from the beginning. Narrowing in on the franchise ownership role is a natural progression; one that will allow for a unique involvement, and help advance the Brand's franchise system," says Kossover.
Mr. Weber looks forward to playing a key role in this expansion. "I am excited to join Value Place at a time when the company is poised for continued growth," he said. "The success of the Brand can be attributed to the relentless priority of offering a remarkably affordable extended stay option – we strive to maintain a cleaner, safer, simple and flexible guest experience in every Value Place property coast-to-coast."
Prior to joining Value Place, Mr. Weber served as a Principal with RED Development, LLC, a diversified commercial real estate firm with a portfolio of 39 shopping centers and mixed use properties, totaling more than 22 million square feet. Prior to RED Development, LLC, he served as Executive Vice President and Chief Investment Officer for Cole Real Estate Investments, a diversified real estate investment firm that manages several public non-traded and private real estate funds ($4.5 billion under management in 2009). He graduated with a Bachelor of Science degree in Business Administration from the University of Northern Colorado and a Master of Business Administration Degree with a concentration in Finance from the University of Houston.
Mr. Weber is welcomed to Value Place as it continues to outperform industry peers. This is thanks to the guidance of DeBoer and Kossover and other long-standing executive team members Gina-Lynne Smith, David Redfern and Kay Auer who will continue to lead the organization's growth, along with new Value Place President and COO Kyle Rogg.
Founded in 2002, Value Place is an economy extended stay lodging brand that features remarkably affordable weekly rates, rigorous cleanliness standards and secure temporary lodging with an unparalleled commitment to the comfort, privacy and peace of mind of each guest. Value Place currently has 175 locations open in 30 states. Since opening the first Value Place property in 2003, 49 franchise groups have committed to build over 300 properties by 2015.