Value Place has partnered with local franchisors Amish and Dipal Patel to develop a hotel at 7710 Lee Highway in Chattanooga, Tennessee. This will be the brand’s eighth hotel in Tennessee.
“This new hotel will help to meet the fast-growing demands of the area,” said Ron Burgett, Executive Vice President of Franchise Development at Value Place. “This site sits strategically at the entrance to Volkswagen, the largest employer in the Chattanooga region, and will provide the first quality, affordable extended-stay option for business travelers, employees relocating to the area, and visitors to the region.”
The projected opening date is the first quarter of 2015. Once completed, the new four-story, 124-room hotel will feature such guest amenities as laundry facilities, modified kitchens, and the cleanliness, safety and security that a Value Place provides to every guest.
“We chose to partner with Value Place because of the brand’s high expected NOIs, low planned operating expenses, and proven track record of success,” says Amish Patel. “But more than that, Value Place is unique because they are a fellow developer and owner. We wanted to do business with someone who truly had our bottom line in mind, and their commitment to investing in the brand demonstrates that.”
Value Place is focused on strategic expansion across the U.S. through both corporate and franchise-owned development. Over the next three years, expansion plans include the acquisition of land to build corporate and franchised properties in metropolitan markets, including Miami, Fort Lauderdale, Boston, Chicago, Minneapolis, Los Angeles, Seattle, Portland and Atlanta.
With nearly 190 hotels open in 32 states, Value Place has emerged as a leader in the extended-stay segment. The company continues to garner national recognition, and was recently named one of 2013’s Top 500 Franchises by Entrepreneur Magazine, as well as one of Franchise Business Review’s Top 50 Franchises for four consecutive years.
Value Place is the nation’s largest economy extended-stay hotel brand with nearly 190 hotels located in 32 states. The company owns 78 of the properties and provides management services for both company- and franchise-owned locations. Featuring remarkably affordable weekly rates, rigorous cleanliness standards and secure short-term lodging, the brand delivers an unparalleled commitment to the comfort, privacy, and peace of mind of each guest.
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