• New River has added markets to an existing seven-propertyagreement. It will also now own and manage 30 properties in LasVegas; Lincoln, NB; Norfolk, VA; and Richmond, VA. The firstproperty in this agreement is under construction in Lincoln. Itwill open in fall.
  • SunRidge will own and manage 24 properties in Alexandria, LA;News Orleans; the North Carolina cities of Greensboro,Raleigh-Durham, and Winston-Salem; and the Tennessee cities ofKnoxville and Nashville. The Alexandria property is underconstruction and will open in winter.
  • Vineyard will own and manage 24 properties in Omaha, NB; andthe Texas cities of Austin, Killeen, San Antonio and Waco. Thefirst Omaha property is under construction and will open infall.
  • Blue Water will own and manage one property in Topeka, KS.
  • Value Place is a three-year-old brandthat offers franchisees lower start-up and operating costs thantraditional hotels. Each property requires as few as 4.5 full-timeequivalent employee positions. The product is geared for businessowners, contractors and others who need temporary lodging for jobassignments and to travelers who need short-term housing at weeklyrates. Including previous deals, franchise agreements are in placefor the development of 175 Value Place hotels. Seven properties areopen and 12 more are under construction. In May, Liberty InvestmentProperties acquired the rights to to develop 26 Value Place economyhotel-apartment properties in 26 Florida markets at an estimatedaggregate development cost of $138 million.

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