MINNEAPOLIS—Value Place, the extended-stayhotel chain, has spent all of 2014 expanding its brand throughout the US, opening bothcorporate-owned and franchise outlets. And it has now just enteredinto an agreement with Sauk Rapids, MN-based UnitedDevelopment Solutions for the immediate development ofthree new hotels in the Minneapolis metro area.

|

The firm will develop the properties in suburban Fridley,Burnsville, and Mendota Heights. Furthermore, UDS and Value Placealso agreed to explore the possibility of building six or sevenadditional properties in the market within the next 36months.

|

A typical Value Place location has about 124 rooms in afour-floor, 45,000-square-foot building on two acres that providesguests with a bedroom, a desk with an internet connection and afull kitchen.

|

“United Development Solutions is a great franchise partner forValue Place as we continue to expand our national footprint in theNorth Central region of the United States,” says RonBurgett, executive vice president of franchise developmentat Value Place. “Working with developers who understand the returnon investment potential of our simplified operations model is vitalto our mutual success.”

|

UDS focuses on commercial real estate development and hasdeveloped numerous hotel and mixed-use projects in a five-statearea surrounding Minnesota.

|

“Value Place has a proven track record of opening hotels, aswell as the experience and expertise to help us meet our aggressivedevelopment goals for metro Minneapolis,” says TroyHoekstra, a partner at UDS. “Adding an extended-staylodging concept to our portfolio was the perfect complement to ourcurrent assets, while at the same time maintaining our targetedreturn on investment for our partners.”

|

“We are excited about the progress we have seen with ourstrategy to increase brand awareness and grow in major markets,”says Bruce Haase, chief executive officer of ValuePlace. “We have entered two major metro markets in twoweeks and we are experiencing some very positive momentum.”

|

Value Place now has nearly 200 hotels open in 32 states. Thecompany owns 81 of the properties and provides management servicesfor both company- and franchise-owned locations.

|

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.