Value Place Diversifying its Customer Base

WICHITA, KS—As reported in GlobeSt.com, Value Place, the extended-stay hotel brand, has just named Mike Varner as its senior vice president of brand strategy and marketing, one of many key hires the company has made this year. And Varner says Value Place, now located in 32 states, has set a goal of becoming a truly national brand.

“I’m not saying that we need to be in all 50 states,” he tells GlobeSt.com, “but we do want to be in the top 25 markets.” The company has launched fairly aggressive expansion plans, both for its franchise operations and for its corporate-owned hotels. In late 2012, for example, it got a $100 million capital investment from the New York-based investment firm Lindsay Goldberg LLC and decided to use the funds to jumpstart the construction of dozens of new projects in metro areas such as Atlanta, Cleveland, Denver, and southeast Florida, among others.