WICHITA, Kan. - January 23, 2015 - (BUSINESS WIRE) - Value Place, the nation's fastest growing extended-stay hotel brand, today released its fourth quarter and full-year 2014 results.
Fourth Quarter 2014 Highlights:
Full Year 2014 Highlights:
"We saw significant consumer and developer demand for our brand in 2014," noted Bruce Haase, Chief Executive Officer. "We believe we are well positioned for sustained growth into 2015. Value Place delivered impressive growth on three fronts last year – above industry RevPAR growth at our company-owned and -franchised properties, the addition of new corporate properties, and the rapid expansion of our franchise network. We see multiple opportunities in 2015 to expand the footprint of our brand through both company-owned and -franchised properties while continuing to grow RevPAR."
During 2014, the company, system-wide, opened eight hotels and currently has 11 hotels under construction.
|System-Wide Hotel Activity|
|Watford City, ND||Franchisee||5/30/2014|
|Grand Junction, CO||Franchisee||9/26/2014|
|Kansas City, MO||Corporate||10/17/2014|
|Colorado Springs, CO||Corporate|
|Ft Lauderdale, FL||Corporate|
|Oklahoma City, OK||Corporate|
As of December 31, 2014, the Value Place network comprised of 190 hotels, consisting of 108 franchised and 82 corporate-owned properties, totaling 22,278 rooms. The number of hotels currently under construction is 11 with 42 additional hotels, including six corporate hotels, under development.
"Our investment in the Value Place 'growth engine' is paying off," said Kyle Rogg, Chief Operating Officer of Value Place. "The quality of our people, processes, and tools continue to improve, and 2015 will see significant growth in franchise development, corporate development, same-store RevPAR, and human and financial capital."
For more information on Value Place franchise opportunities, contact Value Place at 866-645-FRAN, email@example.com, or visit ValuePlace.com/Franchise.
Value Place is the nation's largest economy extended-stay hotel brand with 191 hotels located in 32 states. The company owns 82 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.
SOURCE Value Place
Vice President Franchise Development Marketing
Associate Vice President