Value Place Enters Next Phase of National Growth Strategy

Hires Executive Vice President to Strengthen Executive Leadership and Build on Recent Success

WICHITA, Kan. - January 23, 2014 - (BUSINESS WIRE) - Value Place, the nation's largest economy extended-stay hotel brand, announced today the implementation of the next phase of its national growth strategy, which will focus on increasing its number of corporate- and franchise-developed properties. This phase will build upon the success of the company's existing corporate- and franchisee-developed properties and leverage recently secured funding to grow its national footprint.

As part of the transition to the next phase of growth, Value Place is strengthening its management team by adding accomplished hotel and hospitality sector veterans to its ranks. Ronald Burgett joins the company as Executive Vice President of Franchise Development. Prior to joining Value Place, Burgett was the Executive Vice President, Lodging and Brand Development at Red Lion Hotels Corporation. In this role, he spearheaded the creation of the new Leo Hotel Collection brand and was in charge of the growth and development of brands, franchise services, brand management, quality assurance, and franchisee relations. He also held positions at Northcott Hospitality, Smith Dean Burgett, and Choice Hotels International.

"The next phase for our brand is to increase corporate and franchise development," said Kyle Rogg, President and COO. "The hiring of a hospitality veteran like Burgett is an important step in our growth plan."

The company has strategically hired executives and managers with strong hospitality backgrounds in the past few years. The company's President and COO, Kyle Rogg, brings over 15 years of hotel contracting and payment processing experience, having previously served as an executive with CLC Lodging. Randy Fox, Executive Vice President of Value Place Property Management, offers over 20 years of hotel management experience, most recently having served as Senior Vice President, Operations for Red Roof Inn. In 2014 the company will seek out additional hotel executives to join the team and continue its rapid growth.

As Value Place enters its next phase of development, it's also honoring its past. Value Place Founder Jack DeBoer will be honored with the Lifetime Achievement Award at the Americas Lodging Investment Summit, occurring Jan. 27 to 29 in Los Angeles. DeBoer is considered the father of extended-stay hotels, and built the first Residence Inn before selling the company to Marriott International in 1987. DeBoer also founded Summerfield Suites and Candlewood Suites.

Value Place's expansion plans for the next three years include the acquisition of land to build corporate-owned hotels in metropolitan markets, including Atlanta, Cleveland, Denver, and southeast Florida, among others. Interested landowners in the Value Place expansion markets can contact Value Place Development at realestate@valueplace.com. Value Place also seeks new franchisees with the goal of doubling the number of its franchised properties. For more information about franchise opportunities visit ValuePlace.com/Franchise.

About Value Place

Value Place is the nation's largest economy extended-stay hotel brand with more than 180 hotels located in 32 states. The company owns 74 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.

Media Contacts:

Value Place

David Raehpour
316-630-5573
draehpour@valueplace.com

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