WICHITA, KS—Value Place just released itssecond quarter results, and reported that its system-wide revenueincreased 10.6% over the same period last year to $55 million.Furthermore, the privately-held company saw an 11.5% same-propertyRevPAW increase during the second quarter.

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Value Place also reported that it had 185 hotels, consisting of107 franchised- and 78 corporate-owned properties, with a total of22,108 rooms. The company also had 11 hotels under construction and10 under development. As reported in GlobeSt.com, Value Placeopened a new hotel in Watford City, ND, and signednine new license agreements that will bring new hotels toChattanooga, Tampa, Austin, Nashville, Columbus, and othermarkets.

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“The Value Place brand already has hotels open in 32 states, andwe are accelerating our national expansion by focusing ondevelopment in major metropolitan markets including Pittsburgh,Philadelphia, Miami, Atlanta, Minneapolis, and Denver,” saidKyle Rogg, chief operating officer of Value Place.“In addition to the development of our national corporate hotelportfolio, our network of franchisees, investors, and developersspan the country, giving us a high degree of confidence in ourgrowth plans.”

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The solid numbers come on the heels of several importantpersonnel changes. Bruce Haase, for example,took the helm as chief executive officer following a12-year tenure at Choice Hotels International, oneof the world's largest lodging companies.

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“Value Place franchisees are attracted to the stability of thebrand, the consistency of the product across the portfolio, and theproven financial model that keeps costs low for both guests andfranchisees,” said Haase. “In addition, Value Place has identifiedin excess of 20 markets across the country where we believe a neweconomy extended-stay hotel could be successful, providing thecompany with ample growth opportunities into the future. ValuePlace is poised for aggressive expansion for the remainder of 2014and we are only getting started.”

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.