May 13, 2013 // Franchising.com // WICHITA, Kan. - Value Place announced today that construction has begun on a new property in Lake Charles, La. Scheduled to be completed in October 2013, the four-story, 124-room building will be built to the company’s recently announced “Value Place 2.0” standards, featuring more than 30 major enhancements improving on cost-efficiency and customer appeal.
This will be the sixth Louisiana location for the 181-unit economy extended-stay lodging chain and the second in the area near the southwest border of the state. This region is experiencing heightened economic development activity due to several proposed liquefied natural gas (LNG) plants, a casino now under construction, and other expansion. Value Place is the perfect fit for employees who are temporarily relocating for work, families in transition to become permanent residents of the community, or anyone who needs affordable, long-term lodging.
“Exceptional growth and development is occurring in the Lake Charles locality and the area can strongly benefit from an extended-stay option,” says Value Place CEO Dan Weber, “We can meet that need with our clean, safe properties that provide exceptional value to our guests. Value Place also offers many greatly appreciated amenities such as full kitchens, flat screen TVs, on-site laundry facilities, Wi-Fi and other features that will afford our guests the flexibility to stay in Lake Charles for an extended period of time while enjoying the comforts of home.”
According to the Highland Group’s 2013 Extended-Stay Lodging Market Report, extended-stay hotels attracted more than $1 billion in new investment in 2012. The economy segment that includes Value Place drew in more than $800 million alone, the report said, including a $100 million capital investment in Value Place by the private equity firm Lindsay Goldberg LLC. The report projected that construction would increase further, especially in the “underserved” economy segment.
Lake Charles and other new properties soon to be announced, feature the “Value Place 2.0” design standards, highlighted by enhancements ranging from more energy-efficient lighting and appliances to luxury vinyl tile flooring, ceramic cooktops and other upgraded elements. The refreshed property standard delivers cost efficiency and convenience for operators and sleek new room features for guests. Value Place has franchise opportunities available throughout the United States to qualifying investors. For more information, call (316) 630-5519, or visit ValuePlace.com.
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 181 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.
SOURCE Value Place
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