Value Place Secures $34 Million with U.S. Bank to Refinance 10 Hotels
July 8, 2014 - Value Place, the largest economy, extended-stay hotel brand in the U.S., announced today that U.S. Bank has provided the company with a new, $34 million five-year term loan to refinance a group of its corporate-owned hotels. The 10 properties being refinanced are located in Wichita; Oklahoma City; Del City, Oklahoma; Fayetteville, North Carolina; Lubbock, Texas; Brownsville, Texas; and Pensacola, Florida.
“Our growing relationship with U.S. Bank dates to November of 2010, and since then they've also financed the 22 operating properties we acquired from Angelo, Gordon & Co.”
“Our growing relationship with U.S. Bank dates to November of 2010, and since then they've also financed the 22 operating properties we acquired from Angelo, Gordon & Co.,” said Kyle Rogg, COO of Value Place. “With our rapidly growing portfolio of owned properties, it's important to have a strong partner on which we can depend, and we are pleased that U.S. Bank continues to show confidence in Value Place's strategy, performance, and management.”
With nearly 190 hotels open in 32 states, Value Place has emerged as a leader in the economy extended-stay segment, offering a clean, safe, and affordable hotel stay to guests. Value Place is focused on strategic expansion across the U.S. Expansion plans include the acquisition of land to build hotels in metropolitan markets including Philadelphia, Miami, Atlanta, Boston, and Denver, to name just a few.
Interested landowners and developers may contact Value Place Real Estate Development at [email protected]. For more information on franchise opportunities, contact Value Place at 866-645-FRAN, [email protected], or visitValuePlace.com/Franchise.
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.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
