CHICAGO—Value Place has signed a long-term development agreement with Holladay Properties to build multiple hotels in the Chicago area.
The agreement calls for Halladay to develop 15 hotels in the Chicagoland within the next 60 months, with the potential to build additional properties. The first hotel is on track to break ground in spring 2015.
“This development group has the stamina and resources to aggressively grow with us in this area of the country,” stated Ron Burgett, EVP of development, Value Place. “Partnering with Holladay in a big way in Chicago is exactly what this brand needs in the upper Midwest. Holladay is a perfect fit.”