Value Place has signed an agreement with real estate investment, development and services company West77 Partners to develop up to 25 hotels across the state of Washington.

West77 Partners has entered a development agreement with Value Place Franchise Services, which, will see multiple hotels will be constructed in Washington State over the next four years.

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According to Value Place, construction is initially expected to begin on three hotels in the first quarter of this year within the Seattle metropolitan statistical area (MSA).

"Investing in real estate transactions with a hospitality focus has been a goal for some time now."

West77 Partners principal Mike Nielson said: "Value Place is a great fit for West77 Partners. Investing in real estate transactions with a hospitality focus has been a goal for some time now.

"Value Place has a proven track record and precise operating model that attracted us. With a stronger expected return on investment than more traditional, nightly-stay hotels, coupled with our ability to build out a new region of the country for Value Place, we feel we have the right franchise partner."

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The new West77 Partners portfolio is expected to be managed by Value Place Property Management.

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Value Place CEO Bruce Haase said: "This dynamic development group has the energy and expertise to aggressively introduce our unique hotel concept to a new customer base in the Pacific north-west.

"Partnering with West77 Partners in the state of Washington is a fantastic opportunity for both of us."

Extended-stay hotel brand Value Place has nearly 200 hotels open in 32 states and owns 82 of the properties and provides management services for both company- and franchise-owned locations.