Value Place, the nation’s largest economy extended-stay lodging brand, today unveiled a refreshed property standard that delivers cost efficiency and convenience for operators and sleek new room features for guests. The new “Value Place 2.0” design carries more than 30 significant enhancements that range from more energy-efficient lighting and appliances to improved locking systems and expanded storage and counter space.
Value Place’s property in Alpharetta, Ga., is the first location to incorporate the 2.0 features throughout the building. Intended as the established standard for all future development, the upgrades are being implemented in all new Value Place properties and phased in at existing locations.
“We are very excited to roll out the first substantial overhaul of our concept since we opened the first Value Place 10 years ago,” said Kyle Rogg, Value Place President and Chief Operating Officer. “We listened to our franchisees, our managers and, of course, our guests to create dynamic improvements that make the Value Place experience even more user-friendly.”
Operators benefit from new 2.0 upgrades that make housekeeping upkeep faster and easier, including luxury vinyl tile flooring, wall-hung furniture, accessible bed bases, laminated kitchen walls and integral bowls in bath vanities. Guests will find dresser/TV stands with extra storage, ceramic cooktops that provide more counter space, and in-room shelving and rail systems that make hanging and retrieving clothing smoother.
Several components introduce greater operational efficiency, such as improved energy-saving refrigerators and new, 7,000-BTU packaged terminal air conditioners (PTAC) with remote management to ensure units run only when needed. Corridors feature LED lights for lower utility costs and less-frequent bulb changes, while motion sensors in guest rooms control lighting without wasting energy.
Other 2.0 features combine guest convenience with reduced maintenance and replacement costs. A new radio-frequency identification (RFID) system opens door locks by “reading” the key card, eliminating the need to rekey cards and creating less wear and tear on the opening mechanism. Rooms also feature improved toilet tank hardware to cut the risk of costly malfunctions.
A $100 million private equity investment from New York-based Lindsay Goldberg LLC, announced in January, is facilitating the upgrade of existing properties and the development of additional locations to meet the new 2.0 standard.
Rogg noted Value Place’s new design features “combine to deliver significant operating efficiencies and cost savings that we believe will be very attractive to our franchise and corporate investors.”
Value Place is the country’s largest economy extended-stay franchise, with 181 U.S. properties offering Hotel Convenience and Apartment Essentials™. Packaged affordably compared with traditional hotels, its property features range from “at-home” basics like stovetops, full-size refrigerators and on-site laundry facilities to “away-from-home” services such as front-desk and key card security. Guests also enjoy the flexibility of paying by the week and staying as long as necessary.
The concept was created by Jack DeBoer, a lodging pioneer who founded Residence Inn, the upscale all-suite Summerfield Hotel chain and the Candlewood Hotel Co. He also developed more than 16,000 apartments in 30 cities across the U.S., and continues to guide the evolution of the Value Place brand.
Chief components of the Value Place model include:
• Short construction timeframe – Value Place’s new-construction design minimizes architectural, engineering and construction costs and speeds the development cycle. Multiple general contractors experienced with the process help drive efficiency into new projects.
• Streamlined operation – Typical Value Place properties run on as few as 4.5 to 5 full-time-equivalent employees, keeping staffing and training costs low. For those who prefer not to be involved day-to-day, Value Place offers property management services through its subsidy, Value Place Property Management.
• Ongoing innovation – Value Place continuously explores and initiates ways to keep costs low and quality high to help optimize top-line revenue and profitability.
• Strongly upheld Brand standards – Deep commitment to the company’s “Affordable. Clean. Safe. Simple. Flexible.” Brand positioning and all it stands for help Value Place properties increase customer loyalty and capitalize on strategies such as the company’s popular National Accounts program.
Rogg said these and other factors combine to make Value Place an attractive addition to existing investment portfolios, while also creating strong appeal to a broad cross-section of those requiring long-term lodging. Value Place has franchise opportunities throughout the United States available to qualifying investors. For more information, contact Value Place at (316) 630-5519 or visit ValuePlaceFranchise.com.
About Value Place Franchise Services LLC
Founded in 2002, Value Place is an economy extended-stay lodging brand that features remarkably affordable weekly rates, rigorous cleanliness standards and secure temporary lodging with an unparalleled commitment to the comfort, privacy and peace of mind of each guest. Value Place currently has 181 locations open in 32 states. Since opening the first Value Place property in 2003, 50 franchise groups have committed to build more than 300 properties by 2015. In January 2013, Value Place recorded a substantial jump in Entrepreneur’s prestigious “Franchise 500” ranking, climbing to 210 from its position at No. 493 a year earlier. For more information visit ValuePlace.com.