MIAMI—The Value Place hotel chain is finalizing plans to build a new hotel in Miami. The Wichita, KS-based extended-stay hotelier is also building new hotel properties in Davie and Lake Worth FL.
Value Place reports it has entered into an agreement with Gold Coast Premier Properties, LLC to build a new Value Place hotel in South Florida. The firms say they have plans to build additional properties in the future. The first site will be near Zoo Miami in a prime location highly visible from the Florida Turnpike. It is expected to break ground in 2015. Typical Value Place hotel properties feature 124 rooms.
“Gold Coast is a great franchise partner for Value Place as we continue to expand our presence in South Florida using a mix of both company- and franchisee-owned locations,” says Ron Burgett, executive vice president of franchise development at Value Place. “Florida's economic and demographic trends make it an ideal fit for Value Place, and the Zoo Miami location is a perfect complement to the properties the company is building in Davie and Lake Worth, FL. Value Place has traditionally attracted some of the most sophisticated investors in lodging who appreciate the simplicity and profitability of our operations model. We have had the opportunity to work closely with Gold Coast during their planning process and we could not be more thrilled to have them join our franchisee family.”
“We are excited about our continued expansion in the South Florida market,” says Bruce Haase, CEO of Value Place. “Our momentum continues to grow as more people recognize the strong return on investment generated by our unique operating model and the many growth opportunities available to developers in this under-served segment of the industry.”
Value Place has nearly 200 hotel properties in operation or under development in 35 states. Earlier this month the company announced that Value Place entered into an agreement with West77 Partners, LLC to develop up to 25 hotels across the state of Washington.
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