Value Place Secures $34M with U.S. Bank to Refinance 10 Hotels
Wednesday July 2nd, 2014 - 2:51PM S
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
WICHITA, KS—U.S. Bank has provided Value Place 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, OK; Fayetteville, NC; Lubbock, TX; Brownsville, TX; and Pensacola, FL.
“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."
Tags: Value Place • Hospitality • Sources of Funding •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.