WICHITA, Kan.--(BUSINESS WIRE)--Value Place, the largest economy, extended-stay hotel brand in the U.S., has been recognized by Forbes as one of 2014’s Best Franchises in America, receiving the highest marks of any hotel brand in the $500,001 and over initial investment category. The company ranked number six in the category’s annual listing based on its strong 12 percent growth from 2008 to 2012 and its 99 percent continuity rating over the same period—a measure of its consistent track record as an operator of affordable, clean, safe extended-stay hotels.
“At Value Place, our franchisees have always been central to our success, and together we’ve been able to grow the brand exponentially as demand for economy, extended-stay hotels has increased steadily across the country,” added Value Place COO Kyle Rogg.
“Our hotels have proven to be a strong investment opportunity for hotel owners and commercial developers looking to diversify their portfolios,” said Bruce Haase, CEO of Value Place. “We are committed to providing a simple operating model that drives a large percentage of revenue to our franchisees’ bottom line.”
Value Place offers only basic guest amenities and services to ensure simplicity and cost savings at each of its hotels. Additional operating efficiencies have been strategically incorporated throughout the entire business model, including the brand’s staffing structure, which requires as few as five full-time employees per property. Value Place also delivers real estate and construction services, sales and marketing support, operational and property management training, and other resources to all franchisees.
“We believe so strongly in the promise of this brand that we have invested in 78 corporate-owned properties across the country,” said Ron Burgett, Executive Vice President of Franchise Development at Value Place. “Because of that involvement we understand how essential corporate brand support is to maximizing the profitability of our franchise properties. Not only does our franchise model provide a simple, stable investment opportunity, but our holistic, hands-on approach to franchising helps guide our operators through the entire development and operations process in order to help them grow and flourish.”
With nearly 190 hotels open in 32 states, Value Place has emerged as a leader in the economy extended-stay segment and has garnered national recognition for the success of its franchise operations. The latest Forbes ranking builds on Value Place’s recognition as one of 2014’s Top 500 Franchises by Entrepreneur Magazine, as well as one of Franchise Business Review’s Top 50 Franchises for four consecutive years.
The entire list of Best and Worst Franchises in America is available on Forbes.com and in the June 16, 2014 issue of the magazine.
About Value Place
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. For more information, contact Value Place at (316) 631-1370 or visit ValuePlace.com.