|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.
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
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,
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
|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:
Why Value Place?
Contractors and construction workers
Electricians, technicians, and skilled craftsmen
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
Value Place® is Safe and Secure —
Each Property is an Asset to the Community —
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
Well-illuminated building exteriors and interior common areas discourage
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.
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
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.