US-based Value Place, an extended-stay hotel brand, has signed a deal with Pure Strike Development for the construction of a new hotel in San Angelo, Texas.
The new hotel will represent the first Value Place in San Angelo and its 38th hotel in Texas.
After completion, the four-storey property will have 124 rooms and will feature guest amenities such as laundry facilities and modified kitchens.
The new property is part of Value Place’s strategic expansion across the US over the next three years.
Value Place franchise development executive vice president Ron Burgett said that San Angelo has a diverse business environment that has been experiencing promising economic growth in recent years, especially in the oil and gas sector.
"The city also maintains a strong regional presence across many industries, including medical, agricultural and military, that align with our core customer base," Burgett added.
"We look forward to working with Pure Strike Development to bring them a quality, affordable extended-stay hotel option for their business travel and relocation needs."
The company’s expansion plans also include the acquisition of land to build corporate-owned hotels in additional metropolitan markets, including Miami, Fort Lauderdale, Boston, Los Angeles, Atlanta and Dayton.
Pure Strike Development president Pete Kramer said the company chose to partner with Value Place because of the proven franchise system it has in place.
"We look forward to developing a property in San Angelo and continuing to grow with Value Place," Kramer added.
Currently, Value Place operates around 190 hotels in 32 US states, while the brand owns 75 of the properties and provides management services for both company- and franchise-owned locations.