Value Place Appoints Industry Veteran Bruce Haase as CEO

New Executive Joins the Firm from Choice Hotels International

WICHITA, Kan. - April 14, 2014 - (BUSINESS WIRE) - Value Place, the largest economy, extended-stay hotel brand in the U.S., has named Bruce Haase as CEO, effective Friday, April 11, 2014. He will be based in Wichita, Kan. at the Value Place corporate headquarters.

"The company has laid the foundation for a successful, proven, and profitable business model, and enjoys substantial growth opportunities in numerous undeveloped markets. This is a brand that’s on the move, and I’m excited to be a part of that progress."

Haase joins Value Place following a 12-year tenure at Choice Hotels International, one of the world’s largest lodging companies, where he was responsible for overseeing the company’s global operating functions, including brand management, marketing, franchise development, franchisee relations, international operations, loyalty, e-commerce, and procurement. At Value Place, Haase will lead the executive team of industry experts in their mission to accelerate the brand’s growth and continue to establish Value Place as the nation’s preeminent economy extended-stay hotel brand.

"From a growth and development perspective, Value Place provides the best hospitality opportunity right now," said Haase. "The company has laid the foundation for a successful, proven, and profitable business model, and enjoys substantial growth opportunities in numerous undeveloped markets. This is a brand that’s on the move, and I’m excited to be a part of that progress."

Value Place was established in order to fill a void in the hospitality industry, by providing guests a consistently affordable, clean, and safe, extended stay hotel. The hotel industry is seeing improvement in average daily rate (ADR) and occupancy, and today Value Place continues to outperform both the overall hotel industry and the economy extended-stay segment in Revenue Per Available Room (RevPAR) growth. As a result, Value Place is rapidly expanding its footprint through franchise and corporate development.

"The Value Place model is simple and easy to replicate, providing an attractive franchise development opportunity across the country," said Kyle Rogg, Chief Operating Officer of Value Place. Value Place continues to open new construction hotels, further securing its position as the largest economy-extended stay brand in the nation.

"Bruce’s expertise and experience in the industry will continue Value Place’s evolution to a national household brand," said Rogg. "In the past year we have developed a stellar roster of executive management with extensive franchising and hotel backgrounds, including Ron Burgett, Executive Vice President, Franchise Development; Randy Fox, Executive Vice President, Property Management; and Andy Anderson, Executive Vice President, Business Development."

About Value Place

Value Place is the nation’s largest economy extended-stay hotel brand with nearly 190 hotels located in 32 states. 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 short-term 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.

Contacts:

Robyn Powell
Value Place
Vice President Franchise Development Marketing
316-630-5531
RPowell@ValuePlace.com

Leigh Minnier
Media Relations
Account Supervisor
610-228-2108
Leigh@GregoryFCA.com

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