Value Place Reports Fourth Quarter and Full-Year 2014 Results

Full-year Company revenue increases by 50.9 percent & fourth quarter system-wide same-store RevPAR increases by 14.3 percent

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:

  • The Company's revenue increased by 23.9 percent to $28.4 million as compared to the fourth quarter of 2013
  • Royalty revenue increased by 17.5 percent as compared to fourth quarter in 2013
  • System-wide hotel room revenue was $56.9 million, an increase of 17.6 percent over fourth quarter of 2013
  • Same-store system-wide hotel room revenue per available room (RevPAR) rose 14.3 percent as compared to fourth quarter of 2013; the result of a 10.7 percent average daily rate increase and a 3.2 percent increase in occupancy
  • Corporate hotels (82 properties) generated EBITDA margins of 41.1 percent
  • The company executed on 22 hotel license agreements during the quarter
  • System-wide there were 11 hotels were under construction; including six company-owned hotels
  • System-wide, five hotels were opened during fourth quarter 2014, of which three hotels were company owned

Full Year 2014 Highlights:

  • Revenue increased by 50.9 percent to $108.8 million when compared to full-year 2013
  • Royalty revenue increased by 14.4 percent as compared to full year in 2013
  • System-wide hotel room revenue was $222.9 million, an increase of 14.6 percent over full year 2013
  • Same-store system-wide hotel revenue per available room (RevPAR) rose 10.9 percent as compared to full- year 2013; the result of a 10.0 percent average daily rate increase and a 0.8 percent increase in occupancy
  • Corporate hotels (82 properties) generated EBITDA margins of 44.6 percent
  • System-wide, eight hotels were open during 2014, of which four hotels were company owned
  • The company executed on 36 hotel license agreements during 2014, compared to eight license agreements in 2013 and the highest level since 2008

"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
Openings        Owner        Date Opened
Jacksonville, FL     Corporate     2/17/2014
Watford City, ND     Franchisee     5/30/2014
Grand Junction, CO     Franchisee     9/26/2014
Cleveland, OH     Corporate     10/10/2014
Fredericksburg, VA     Franchisee     10/15/2014
Kansas City, MO     Corporate     10/17/2014
Columbus, OH     Franchisee     10/18/2014
Dayton, OH     Corporate     10/30/2014
             
Under Construction            
Colorado Springs, CO     Corporate      
Denver, CO     Corporate      
Ft Lauderdale, FL     Corporate      
Miami, FL     Corporate      
Atlanta, GA     Corporate      
Louisville, KY     Franchisee      
Oklahoma City, OK     Corporate      
Hobbs, NM     Franchisee      
Columbus, OH     Franchisee      
Columbus, OH     Franchisee      
Norfolk, VA     Franchisee      

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, franchise@valueplace.com, or visit ValuePlace.com/Franchise.

About Value Place

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

Contacts: 

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

Leigh Minnier
Press Relations
Associate Vice President
610-228-2108
Leigh@GregoryFCA.com

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

the inside coup
the inside coup™ is a unique franchise opportunity in a multi billion dollar industry, Direct Mail.
Which Wich® Superior Sandwiches
Which Wich is changing the franchising game with our fun, personalized, and incredibly attractive business approach.
Bacon Bros. Public House
Bacon Bros. Public House prides itself on quality, locally sourced ingredients in addition to our award winning entrees, in-house smoked meats and...
Minuteman Press International
Minuteman Press is the world's largest & number 1 rated printing & marketing franchise. Our business model features multiple revenue streams,...
Quaker Steak & Lube®
Founded in 1974 in Sharon, PA, the award-winning casual dining restaurant chain has expanded over 55 locations throughout the United States and Canada

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)