WATFORD CITY, ND—Value Place has been very busy over the last year-and-a-half. Last January, GlobeSt.com reported that the extended-stay hotel brand got a $100 million capital investment from the New York-based investment firm Lindsay Goldberg LLC to jumpstart the construction of dozens of new projects. Since then, the company has launched projects across the US, and this week, opened its third low-cost extended-stay hotel in the oil-rich Bakken region of North Dakota.

Thousands of oil workers have poured into the region’s small towns and cities, creating the need for new housing and retail outlets. The company’s new 124-room hotel, located at 4005 Frontier Ave. in the Crossings at Watford City, a planned development in Watford City, ND, opened yesterday. The company’s other Value Place hotel is in the nearby city of Williston. Local franchisor Art Cahoon of Nakota Development, LLC partnered with Value Place to develop the Watford City location.

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

Once you are an ALM digital member, you’ll receive:

  • 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

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.