CLEVELAND—Value Place, the nation's largest affordable extended-stay hotel operator, has been expanding, repositioning and renovating its national portfolio. And the company has just held the grand reopening of its hotels in Akron and Mentor, OH, and another hotel in Greenwood, IN, each of which received a $500,000 renovation.

After garnering guest feedback, the company enhanced each property by upgrading lighting, beds, and televisions, as well as amenities including high-speed, wireless Internet.

“We already meet the 'needs' of budget-conscious guests,” says Value Place chief operating officer Kyle Rogg. “These upgrades answer the 'wants.'”

Value Place plans to enhance corporate-and franchisee-owned properties, all new construction between 2002 and 2013. In addition, as reported in GlobeSt.com, the company bought 22 of its franchise outlets last fall for $115 million. And in September, GlobeSt.com also reported that company officials were using a $100 million capital investment from the privately-held, New York-based investment firm Lindsay Goldberg LLC.

Value Place tries to provide hotels appealing to government employees, military personnel, business travelers, and construction workers who travel frequently for work and require a budget-friendly hotel, company officials say.

In Akron, the four-story, 121-room property, located at 3325 Fortuna Dr., sits just south of downtown Cleveland near exit 120 off I-77. In Mentor, the three-story, 119-room property at 5650 Emerald Crt., sits near First Energy Stadium just off I-90. And the four-story, 121-room Greenwood property, located at 1009 Greenwood Springs Blvd., sits just south of downtown Indianapolis.

The company now has nearly 190 hotels in 32 states.

Instant Insights /

Value Place Renovating Portfolio

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