WICHITA, KS—The nation's largest affordable extended-stay hotel chain has just topped off its efforts to bring in new blood by naming Bruce Haase as chief executive officer effective Friday, April 11, 2014. As reported in GlobeSt.com, in January the Wichita, KS-based firm also hired Ronald Burgett as executive vice president of franchise development. Randy Fox and Kyle Rogg were also recently brought on board as, respectively, executive vice president of property management and president and chief operating officer.
“In the past year we have developed a stellar roster of executive management with extensive franchising and hotel backgrounds,” says Rogg.“Bruce's expertise and experience in the industry will continue Value Place's evolution to a national household brand.”
In addition to the major personnel moves, Value Place has put plans in place for a major expansion. As reported in GlobeSt.com, for example, the company has decided to expand in California and Texas, and last fall bought 22 of its franchise outlets for $115 million. And last September, GlobeSt.com also reported that company officials were using a $100 million capital investment from the privately-held, New York-based investment firm Lindsay Goldberg LLC to jump start the construction of dozens of new company-directed projects in metro areas such as Atlanta, Cleveland, Denver, and southeast Florida.
“The company has laid the foundation for a successful, proven, and profitable business model, and enjoys substantial growth opportunities in numerous undeveloped markets,” says Haase. “This is a brand that's on the move, and I'm excited to be a part of that progress.”
Haase joins Value Place following a 12-year tenure at Choice Hotels International, where he oversaw the company's global operations, including brand management, marketing, franchise development, franchisee relations, international operations, loyalty, e-commerce, and procurement.
Value Place now has nearly 190 hotels in 32 states. The company owns 75 of the properties and provides management services for both company- and franchise-owned locations.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
