BAKERSFIELD, CA—Value Place, a fast-growing extended-stay hotel brand, has signed a license agreement to build a 124-unit, four-story hotel here.

Bhattal Enterprises has entered into an agreement with Value Place to construct the second Value Place location in California. The hotel is expected to break ground in early 2015.

“We are excited to partner with Ajit Bhattal on this Bakersfield project. We have worked hard over recent months to engage and educate developers in California on the unique benefits of the Value Place business model,” said Ron Burgett, Executive Vice President of Franchise Development. “Ajit is a great addition to the Value Place family.”

“I was attracted to Value Place because it complements my existing businesses within the city of Bakersfield. The brand has a simple operating model that is attractive to me as a first-time hotelier,” says Ajit Bhattal, the principle developer. Bhattal also owns and operates franchised quick-serve restaurants and service stations in the immediate area where construction is planned.

This new property in California is just one of several new projects and multi-property development agreements recently announced by the company. “Value Place has been working hard to develop our brand in the Western United States where we see great customer and developer demand for our product,” said Bruce Haase, CEO of Value Place.

With nearly 200 hotels open in 32 states, Value Place has emerged as a leader in the extended-stay segment. The brand continues to garner national recognition, and was recently named by Forbes magazine as the top hotel franchise in the U.S., one of 2014's Top 500 Franchises by Entrepreneur Magazine, as well as one of Franchise Business Review's Top 50 Franchises for four consecutive years.