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Construction Booms for Extended-Stay Hotels

WICHITA, KS—Value Place, the Kansas-based provider of affordable, extended-stay hotel suites says both bank financing and equity have become available again, and will spark a national construction boom.

By Brian J. Rogal | Updated on September 17, 2013

WICHITA, KS—Unlike many players in the hospitality industry, Value Place extended-stay hotels remained relatively healthy throughout the recession, and now that the economic clouds have begun to lift, the company plans to put big development plans into motion.

“We now have the money that will fund our growth,” says David Redfern, president of real estate development for Value Place, the largest affordable extended-stay lodging brand in the US. In 2009, Value Place largely stopped adding new units. But in January, GlobeSt.com reported that Value Place had in late December 2012 secured a $100 million capital investment from the privately-held, New York-based investment firm Lindsay Goldberg LLC.

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