COLUMBUS—Value Place, the extended-stay hotel chain, spent all of 2014 expanding its brand throughout the US, opening both corporate-owned and franchise outlets. And it has kicked off 2015 with the same style. Along with its partner VP Columbus LLC, the company opened a newly-constructed hotel in suburban Urbancrest, OH, on January 22. This opening increases the brand's hotel count in the state to 13, with locations in Dayton, Cincinnati, and Cleveland, among others.
The hotel sits at 3205 Centerpoint Dr., only a small distance from Ohio's capital and near two international airports. Company officials say the location will provide an affordable lodging option with quick access to various amenities in the Columbus metro region.
“Value Place is expanding its brand in Ohio as the demand for extended-stay hotels continues to grow,” says Andy Anderson, executive vice president of business development. “Urbancrest is an ideal location for one of our hotels, as the town's population and workforce has steadily increased in the past decade and it is conveniently located within 10 miles of Columbus.”
Value Place hotels typically have four-stories, 124 rooms, and amenities as laundry facilities, high-speed wireless internet and modified kitchens.
The company now has nearly 200 hotels open and under development in 35 states. It owns 82 of the properties and provides management services for both company- and franchise-owned locations. Over the next three years, Value Place plans to acquire land for both corporate and franchised properties in many markets including Miami, Philadelphia, Fort Lauderdale, Boston, Atlanta, Chicago, Minneapolis, Los Angeles, Seattle, Portland, and Atlanta.
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.
