WATFORD CITY, ND—Value Place has beenvery busy over the last year-and-a-half. Last January,GlobeSt.com reported that the extended-stay hotel brandgot a $100 million capital investment from the NewYork-based investment firm Lindsay Goldberg LLC tojumpstart the construction of dozens of new projects. Since then,the company has launched projects across the US, and this week, openedits third low-cost extended-stay hotel in the oil-rich Bakkenregion of North Dakota.
Thousands of oil workers have poured into the region's smalltowns and cities, creating the need for new housing and retailoutlets. The company's new 124-room hotel, located at 4005 FrontierAve. in the Crossings at Watford City, a planneddevelopment in Watford City, ND, opened yesterday. The company'sother Value Place hotel is in the nearby city of Williston. Localfranchisor Art Cahoon of NakotaDevelopment, LLC partnered with Value Place to develop theWatford City location.
“This new location is the latest in our aggressive expansionacross the US,” said Andy Anderson, executive vicepresident of business development at Value Place. “Demand foreconomy extended-stay hotels is steadily increasing and we areexcited to serve this previously underserved hotel segment.”
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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.
