Value Place Shows System-wide Revenue Increases in Q2
Tuesday August 5th, 2014 - 9:40AM B
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WICHITA—Value Place revealed an 11.5% same-property RevPAW (revenue per available week) increase during the second quarter of 2014.
In announcing its 2Q results, the company also reported a systemwide revenue increase of 10.6% from the same year prior to $55 million. Other highlights include an average brand-wide occupancy increase of 81.6% as well as 11 hotels under construction and 10 under development.
"The Value Place brand already has hotels open in 32 states, and we are accelerating our national expansion by focusing on development in major metropolitan markets, including Pittsburgh, Philadelphia, Miami, Atlanta, Minneapolis and Denver," stated Kyle Rogg, COO of Value Place.
Tags: Value Place • second quarter results • Hospitality • Brands •
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.