Wichita, Kan.-based hotel chain Value Place plans to expand its footprint in South Florida by building 15 hotels over the next two years, bringing its number of properties to 34. The cost of the new projects: $131 million.
The company now operates 19 hotels across the Sunshine State; the new properties, like the existing ones, will offer only weekly rates. Rates at Value Place’s hotel in Miami-Dade County’s Homestead start at roughly $330 a week.
Construction on Value Place’s first hotel is set to start in January, while two sites are already in contract. Each hotel will have 124 rooms and full kitchens. The company is checking out areas near residential neighborhoods, big businesses and major highways.
“We’re not competing for the nightly hotel business,” David Redfern, president of Value Place, told the Miami Herald. “I don’t know if there needs to be another nightly hotel, but we think there needs to be a hotel that focuses on people who are staying a week.” [Miami Herald] — Mark Maurer