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Quanah Hospitality Partners, LP Plans Major Expansion of Value Place Branded Properties;
Secures $100 million in Capital from NorthStar Realty Finance Corp.
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DALLAS, Aug. 27, 2007 - Quanah Hospitality Partners, LP ( http://www.quanah.com ) has announced the details of expansion plans for the Value Place brand, centering around an ambitious vision to develop 150-200 Value Place property locations within a short five-year timeframe. This equates to the addition of approximately 20,000 beds, an industry leading annual pace.
    
Value Place currently touts 52 open properties, with plans to develop at least 500 more hotels over the next five years. Quanah will be a major contributor to Value Place's aggressive expansion plans, and will be a driving force in creating one of the Top 20 largest hotel brands in the United States.
    
Quanah has been successfully securing the necessary capital to fuel this unprecedented expansion effort. Most recently it completed a $100 million transaction with NorthStar Realty Finance Corp., a publicly traded REIT. Additional milestones are expected to be reported within the coming 30-60 days.
    
Value Place ( http://www.ValuePlace.com ) is the fastest growing brand in hospitality and the leader in the growing extended stay hotel segment. Quanah is one of Value Place's largest franchisees and is developing hotels throughout the United States.
    
"The Value Place concept is ripe for rapid expansion. Our team has collectively built over 15,000 projects, so we fully understand what it takes to make this vision a reality," commented Gary L. Webb, CEO of Quanah Hospitality Partners, LP. "As franchise developers, we are also fully aligned with the values and vision of the Value Place ownership and are leveraging all the support they can provide," he added.
    
As of July 2007, Quanah has opened hotels in Fort Worth, TX and Albuquerque, NM and is under construction in Fort Worth, TX; Rockwall, TX; Trophy Club, TX; and Jacksonville, FL. Additionally, projects under contract include Fort Worth, TX; Dallas, TX; Benbrook, TX; Forest Hill, TX; Irving, TX; Mesquite, TX; Albuquerque, NM; Jacksonville, FL; Palm Springs, CA; Moreno Valley, CA; Loma Linda, CA; Victorville, CA; Perris, CA; and Wildomar, CA.
    
About Quanah Hospitality Partners, LP
    
Led by a management team with more than 150 years of combined experience in real estate development and construction, Dallas-based Quanah Hospitality Partners, LP and its subsidiaries build and manage proven hospitality ventures that add lasting value to the community. Formed in 2004, Quanah entered into an exclusive agreement with Value Place Franchising Services, LLC to develop extended-stay hotels to communities in Texas, New Mexico, California and Florida.
 
About Value Place

Our business is currently anchored in the hospitality industry as a franchisee of the fastest growing brand in the hospitality industry. Value Place®, founded by industry legend Jack DeBoer, creator of Residence Inn, Summerfield Suites, and Candlewood Suites, offers simple studios at an affordable weekly rate that give travelers a clean, safe alternative to budget hotels that compete on price alone.

Launched in 2004, Value Place® provides a pleasantly predictable experience without added amenities that drive up the cost to the customer. This perfect balance of functionality and affordability, along with its well-earned reputation for safety and cleanliness, has made Value Place® the fastest-growing hotel chain in the nation.

Who Are Our Customers?

The majority of Value Place® customers are working professionals — many of whom are traveling on their own dollar or on behalf of small businesses with a modest per diem allowance. Here are just a few examples of the many guests we serve:

  • Small-business owners
  • Business consultants
  • Field managers
  • Contractors and construction workers
  • Electricians, technicians, and skilled craftsmen
  • Inspectors
  • Programmers and software engineers
  • Field service agents
  • Those in the process of relocating
  • People buying, selling, or remodeling a home
  • Those in transition following marriage or divorce
  • Families and friends of hospitalized individuals
  • Visiting nurses and medical specialists
  • Businesses in need of corporate housing solutions
  • Employees with temporary work assignments
  • Individuals conducting or participating in training
  • College students and academic professionals
  • Vendors servicing the military
  • Seasonal residents (such as retirees)
  • Visiting family members and friends
  • General extended-stay travelers and vacationers 
Why Value Place?

Value Place® is Safe and Secure —

  • Interior corridors with limited points of entry and high visibility act as deterrents to crime and mischief.
  • Each customer is issued an electronic key that must be updated weekly to allow access to any public space beyond the front desk.
  • Value Place® has a “Know Your Residents” policy that conditions employees to take note of unfamiliar faces and report suspicious activity.
  • Each property has an on-site officer, along with security cameras on all floors that local police may access remotely via a secure password-protected Web site.
  • Well-illuminated building exteriors and interior common areas discourage illicit activity.
  • The Value Place® Clean and Value Place® Safe programs were developed in conjunction with the Harvard Business School.
  • Our standards of customer conduct are not limited to unlawful behavior; we can and do expel guests who fail to follow our guidelines. 
Each Property is an Asset to the Community —
  • Because Value Place® does not have its own restaurant, bar, or salon, local businesses can expect an increase in foot traffic as guests venture beyond the walls of their hotel to take advantage of these and other services.
  • In underserved markets, the addition of a Value Place® is often the catalyst that spurs economic activity.
  • Value Place® guests stay longer than average hotel patrons — which translates into more money spent with local merchants.
  • Our Value Place® properties generally have occupancy rates of 88 percent to 92 percent — a figure that’s unheard of among ordinary hotels. Higher occupancy means more money to the community through the transient occupancy tax.
  • The extended-stay business targets those who must travel due to business or personal obligations rather than those who travel for pleasure, making it a recession-resistant proposition.
  • Value Place® is a cost-effective resource for local businesses, providing an affordable alternative to luxury hotels when hosting clients or customers from out of town. 

 
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Contact:

Quanah Hospitality Partners, LP
http://www.quanah.com

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Also See: Quanah Properties Planning to Build Jack DeBoer's Value Place Hotel-apartments in Seven Texas and California Locations / April 2005
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